Fore Coffee is seeking to open 75 new outlets in Indonesia across the next six months to exceed 200 stores by the end of 2023.
Founded in 2018, Fore Coffee currently operates approximately 130 stores across Greater Jakarta and the islands of Java, Sumatra and Kalimantan and is looking to expand its presence in Indonesia’s mid-size cities.
The specialty coffee chain is also ‘optimistic’ about achieving profitability in 2023 and will cut its marketing budget by up to 30% to refocus on new product innovation and organic promotion.
In April 2023, Fore Coffee promoted Matthew Ardian from Vice President of Marketing to Chief Marketing Officer. Upon his appointment, Ardian said he will work alongside CEO Vico Lomar and Chief Financial Officer Umara Ardra to develop marketing plans and accelerate store profitability.
World Coffee Portal research forecasts the total Indonesian branded coffee shop market, led by domestic chain Kopi Kenangan and US-based Starbucks, will reach 4,100 outlets by 2025.
Source: World Coffee Portal
