Fore Coffee Opens First Store in Singapore

Fore Coffee's official regional expansion was marked by the opening of its first outlet in Singapore, located at the Bugis Junction shopping center. The company has the ambition to become brand pioneer and leader of delicious Indonesian coffee culture on the global stage.

In its inauguration, Fore Coffee Co-founder & CEO Vico Lomar said that the presence of Fore Coffee's first international outlet was a place to celebrate diversity while introducing Indonesian coffee culture to coffee fans in Singapore.

"Fore Coffee's first outlet has a mission to not only serve a series of superior Fore Coffee coffee menus that are loved by the Indonesian people, but also provide a deeper insight into coffee and Indonesian culture," said Vico.

Also present at the inauguration, Minister of Tourism and Creative Economy Sandiaga Salahudin Uno said that Fore Coffee is committed to bringing the best Indonesian coffee throughout the world in order to increase the level of coffee bean exports.

"Indonesia has the potential to strengthen its global reputation for coffee beans which of course compete with coffee beans from Brazil and Vietnam. "I hope that today we can start optimizing this outlet to educate and introduce Singaporeans to the rich and beautiful Indonesian coffee culture," he added.

Fore Coffee offers a line of mainstay drink menus that have become favorites among coffee lovers in Indonesia, such as Palm Sugar Latte, Pandan Oat Latte, and Butterscotch Sea Salt Latte, which are priced starting from S$4,5 (around Rp. 51 thousand).

This superior menu is re-mixed with fresh twist because it has been adapted to the taste preferences of the Singaporean people through a series of FGDs which also used the nutri-grade level as a guide for making recipes, so that the taste is even richer.

“[..] The opening of our international outlet in Singapore is clear proof of our commitment to making Indonesian coffee part of the global lifestyle [..],” concluded Vico.

Its closest competitor, Kopi Kenangan, has already expanded regionally. Marked by the opening of the first outlet in Malaysia in October 2022 with a total of 22 outlets currently spread across Kuala Lumpur and Selangor.

Then, expansion to Singapore will be carried out in August 2023, with three outlets operating, located at Raffles City Shopping Center, Changi Airport T2, Takashimaya Shopping Center. Prices start from S$2,9.

Quoting from research which Fore and Redseer conducted in June 2023, stated that Singapore's coffee market share is expected to grow by 5% per year, reaching $1,3 billion in 2027. Data also shows that Singaporeans consume around six to seven cups of coffee every week.

So it's not surprising that it is a strong magnet for many companies to enter there, especially as Singapore is a business hub in Southeast Asia.

Achieve positive EBITDA

In Indonesia, ForeCoffee claims to have achieved positive EBITDA in the third quarter of 2021. The main key thing to do is cut the promotional budget by up to 50%. This cutting trend will continue in 2022 at 30% and is targeted to reach 20%-30% in 2023.

Vico explained three strategic steps that are the key to Fore Coffee's success in expanding its reach and services to achieve business profitability, namely encouraging superior product quality with R&D innovation, optimizing the performance of quality human resources, and targeting the opening of the newest outlets.

Until now, Fore Coffee has 134 outlets in Jabodetabek, the islands of Java, Sumatra and Kalimantan. Fore will add about 75 outlets and expand to cities mid size so that it can operate a total of around 200 outlets by the end of 2023.

"Our dream is that Fore Coffee can become a brand that is loved and trusted by Indonesian consumers. This goal seems simple but requires extraordinary commitment from all elements of the company. "With the principles of openness and transparency and actively innovating for customer satisfaction, these ideals can undoubtedly be achieved," said Vico.

Fore is also repositioning its brand image to become a trendy, pocket-friendly drink. Companies feature seasonal beverage products while pushing their flagship products.

The three superior menus, namely Aren Latte, Pandan Latte, and Butterscotch Sea-Salt Latte, are claimed to bring the Fore brand into the TOP 5 Brand ranks with top of mind highest in Indonesia.