Dear reader,
Flash Coffee, a tech-enabled coffee chain, has appointed former Foodpanda CEO Jakob Angele as its executive chairman to steer the company towards profitability.
After a period of rapid expansion across Asia Pacific, the company has scaled back significantly, liquidating its operations in Singapore, Thailand, Hong Kong, Taiwan, and South Korea, leaving it with just 67 stores in Indonesia.
Despite this contraction, Angele is optimistic, noting that most of the remaining outlets are EBITDA-positive. The company has focused on fine-tuning its cost structure and revamping its menu, with 63% of drinks being new offerings tailored to Indonesian tastes.
This strategic shift, coupled with enhanced seating options, has improved offline business performance. Angele, who shares 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 point.
The company plans to open five to ten new stores in Indonesia this year, with no immediate plans for international expansion. Confident in the potential of the Indonesian market, Angele envisions Flash Coffee expanding to 300-400 outlets domestically while maintaining profitability.
Sainul,
Editor.
—–
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