Coffee Chains Enter Singapore to Expand in the Region

Jan 2024

While Singapore’s coffee market is highly competitive, brands continue to expand in the city-state in hopes success on the island will propel international growth.

Recently, five leading players set up in Singapore, namely China’s Luckin Coffee, Indonesia’s Kenangan Coffee and Fore Coffee, Canada’s Tim Hortons and Taiwanese specialty coffee chain Louisa Coffee.

The city-state represented Luckin’s first major push outside of China, opening 30 outlets since March 2023. Kenangan Coffee has opened four stores since its start in September 2023 while Tim Hortons counts two outlets and Fore Coffee and Louisa Coffee have one shop each.

Launched in 2017, Kopi Kenangan boasts over 800 stores across 45 cities in Indonesia and 22 stores across Malaysia. In Singapore the brand is known as Kenangan Coffee, and it has opened shops at Changi Airport Terminal 2, Jewel Changi Airport mall, as well as Raffles City Shopping Centre and Takashimaya Shopping Centre. In effect, the company highlighted how Singapore is Southeast Asia’s hub, with people from the region coming to the city-state simply just to transit, to travel or do business. A successful entry into Singapore is seen as part of a strategy to propel the brand further in the region.

Singaporeans are fond of coffee. A July 2022 survey conducted in Singapore revealed that around 55% of respondents said they bought coffee in the week prior to the survey. By contrast, the wider Asia-Pacific region has the lowest per capita consumption of coffee in the world, according to Euromonitor, with much room for growth.

(Source: CNBC)

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