Will profitable Kopi Kenangan get $1bn to take on the world?

The Indonesian unicorn has ambitious growth plans to more than triple its store network by 2030 – a long-awaited IPO could finance it

In January 2022, Jakarta-based Kopi Kenangan became the first F&B company from Southeast Asia to attain coveted unicorn status after attaining a $1bn valuation.

Fast-forward four-and-a-half years and another $1bn milestone is being eyed, with Indonesia’s largest coffee chain reportedly seeking to raise that amount as part of a public listing.