Indonesia-based on-demand specialty coffee startup Fore Coffee has announced its plan to open 1,000 new locations in Indonesia, in collaboration with local accommodation network provider Airy, the company said on Wednesday during a press conference.
In the early stage, Fore Coffee will open 50 stores at different Airy’s locations hotel chains. It will continue its expansion to reach 1,000 stores in the future, all located at Airy’s hotels.
“Fore Coffee could be the largest coffee network in Indonesia,” said Willson Cuaca, co-founder and managing partner at East Ventures in the press conference, adding that currently, the biggest coffee chain in Indonesia has around 400-500 stores, without mentioning the name of such company. Willson also said that his VC will continue to invest in Fore Coffee.
East Ventures is a backer for Fore Coffee and Airy Indonesia, which also has online travel unicorn Traveloka as an investor.
Willson mentioned that he sees Chinese coffee chain Luckin Coffee as an example. The on-demand beverage chain has opened more than 2973 brick-and-mortar stores and has expanded quickly in China. The firm plans to open 10,000 store locations by the end of 2021, KrASIA reported.
Currently, US-based coffee shop Starbucks is one of the largest coffee chains in Indonesia with more than 370 outlets in 31 cities, according to the 2018 financial report of PT Map Boga Tbk, the company that operates Starbucks in Indonesia.
Indonesia is the fourth-largest coffee producer in the world, after Brazil, Vietnam, and Colombia, according to Indonesia’s Trade Ministry, local media The Jakarta Post reported.