Dear reader,
Flash Coffee, a tech-enabled coffee chain, has brought on former Foodpanda CEO Jakob Angele as its executive chairman to guide the company towards profitability.
Following a period of extensive expansion across Asia Pacific, the company has significantly scaled back, shutting down its operations in Singapore, Thailand, Hong Kong, Taiwan, and South Korea, and now operates only 67 stores in Indonesia.
Despite this reduction, Angele remains optimistic, pointing out that most of the remaining stores are EBITDA-positive. The company has focused on refining its cost structure and updating its menu, with 63% of beverages now being new offerings tailored to Indonesian preferences.
This strategic shift, along with improved seating options, has boosted offline business performance. Angele, who has a professional history with Flash Coffee’s founder, believes the brand is well-positioned in Indonesia’s competitive market, offering quality at a medium to high price range.
The company’s plans include opening five to ten new stores in Indonesia this year, with no immediate intentions for international expansion. Confident in the Indonesian market’s potential, Angele envisions Flash Coffee growing to 300-400 outlets nationally while remaining profitable.
Sainul,
Editor.
—
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