What Fore Coffee does

Fore Coffee is an Indonesian specialty coffee chain operating company-owned retail stores under a premium-but-affordable positioning. Founded in 2017-2018 in Jakarta, the company grew to 316 stores nationwide by the end of 2025, distributing coffee beverages (and related bean/merchandise offerings) directly to mass-market Indonesian consumers. The company IPO'd on the Indonesia Stock Exchange (IDX) under ticker FORE on April 14, 2025, raising approximately USD 21 million at a post-money valuation near USD 83 million. It does not disclose a proprietary technology stack or digital platform; the website domain currently resolves to a default nginx page, indicating minimal direct-to-consumer digital infrastructure.

The business model is straightforward retail: Fore Coffee generates revenue through high-volume, low-ticket consumer transactions at its physical store network, with FY2025 revenue of IDR 1.5 trillion (~USD 94M) and net profit of IDR 90.1 billion (~USD 5.6M), implying a ~6% net margin. The customer base is a long-tail of individual mass-market consumers in Indonesia seeking premium quality coffee at accessible price points; the company also plans to target overseas markets (Singapore, India, Australia, Malaysia, Philippines, China) and the Indonesian diaspora. Its go-to-market is entirely owned-retail with no franchising disclosed.

Following the IPO, Fore Coffee has committed proceeds to three growth vectors: (1) opening 140 additional outlets domestically, taking the store base toward ~456 locations; (2) diversifying into a new product line — donuts — to lift average ticket size; and (3) entering overseas markets. There is no disclosed AI/ML capability, no acquisitions to date, and the management team is led by co-founders Elisa Suteja, Robin Boe, and Jhoni Kusno, with Willson Cuaca as Chairman and Umara Ardra as Group Director & CFO.

Name

Fore Coffee

Legal name

Fore Coffee

Website

https://fore.coffee

Company type

Public

Founded year

2017

Operating status

Ipo

Headcount range

1,001–5,000 employees

Short description

Fore Coffee is an Indonesian specialty coffee chain operating 316 company-owned retail stores nationwide, selling premium-affordable coffee to mass-market Indonesian consumers. Listed on the IDX since April 2025 (ticker: FORE), it is expanding domestically and into new product categories.

Ownership category

akta.pro rank

Product category

Specialty Coffee Retail

NAICS

Coffee and Tea Manufacturing (31192), Coffee and Tea Manufacturing (311920)

SIC

Retail-Eating & Drinking Places (5810), Retail-Eating Places (5812)

akta.pro primary industry

Coffee Chains & Franchise Cafes (THAFADAB)

akta.pro secondary industries

Coffee, Tea & Cocoa Trading/Wholesale (AFAIAKAD), Specialty Coffee & Tea Retail (Beans, Leaves, Accessories) (CRAHAGAI), Coffee, Tea & Cocoa Beverage Wholesale (AFAIAGAD)

Keywords

• Specialty coffee retail
• Coffee chain stores
• Coffeehouse beverages
• Cafe food service
• Coffee bean sales

Headquarters

HQ city

Jakarta Pusat

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Retail Coffee Sales: Revenue generated from operating a chain of 316 coffee stores across Indonesia. The company reported IDR 1.5 trillion in revenue for full-year 2025, representing significant growth driven by aggressive store expansion strategy.
2. Food & Beverage Products: Diversification into new product categories including donuts, expanding beyond core coffee offerings to increase average transaction value and drive incremental revenue per store location.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

Fore Coffee operates a chain of 316 company-owned coffee retail stores across Indonesia, selling coffee beverages and related products at premium yet affordable price points to mass-market consumers. Following its April 2025 IPO, the company plans to open 140 additional outlets and diversify into a donut business to increase average transaction value and drive incremental revenue per store location.

Product overview

Fore Coffee is an Indonesian premium yet affordable coffee chain operating 316 stores nationwide as of 2025. The company operates a single unified retail format offering coffee beverages and related products. Following its IPO on the Indonesia Stock Exchange in April 2025, the company announced plans to open 140 new outlets and expand into a donut business as part of its diversification strategy.

Differentiator

Problem solved

Functional benefit

Products and services

• Fore Coffee Retail Stores
• Fore Donuts

Quantifiable outcome

• 55% increase in net profit to IDR 90.1 billion in full-year 2025
• +3 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators8 records

Recent moves9 records

Expansion highlights3 records

Direct peers

• Kopi Kenangan: Indonesia's largest grab-and-go coffee chain with similar premium-affordable positioning and rapid multi-format store expansion. Direct competitor for the same mass-market coffee consumer in Indonesian urban centers.
• Tomoro Coffee: Indonesian coffee chain that has scaled aggressively on a similar premium-affordable, tech-enabled model. Competes head-to-head with Fore Coffee in the same cities and customer segment.
• Maxx Coffee: Long-running Indonesian coffee chain with a sit-down café format and broad menu. Competes with Fore Coffee for the same Indonesian premium coffee consumer, particularly in malls and high-traffic locations.
• J.CO Donuts: Indonesia-headquartered donut and coffee chain with regional presence. Fore Coffee's planned Fore Donuts launch directly competes with J.CO's established coffee-and-donut combination model.

Emerging players

• Tim Hortons Indonesia: International QSR brand rapidly scaling in Indonesia through a master franchise. Targets a similar middle-market coffee consumer with a globally recognized brand and donut adjacency, competing directly with Fore Coffee's positioning.
• Luckin Coffee: China-headquartered, tech-driven coffee chain that has recently expanded into Singapore and other Southeast Asian markets. Closely comparable on small-format, tech-enabled, value-priced coffee retail model as Fore Coffee eyes the same regional expansion.
• % Arabica: Japanese-origin specialty coffee brand expanding across Asia including Singapore, Indonesia, and other markets Fore Coffee is targeting. Represents the specialty/single-origin positioning Fore Coffee could move up against as it internationalizes.

Broad incumbents

• Starbucks Indonesia: Operated by Sari Coffee Indonesia (Sriboga), Starbucks anchors the premium end of the Indonesian coffee market. While positioned above Fore Coffee on price, it competes for overlapping occasion-based consumption in major Indonesian cities.
• Coffee Bean & Tea Leaf: Established premium coffee chain with presence across Southeast Asia including Indonesia. Competes with Fore Coffee in the full-service café segment and offers comparable coffee-and-food attach model.

Regional players

• Dunkin' Indonesia: Master-franchised donut and coffee chain with established Indonesian footprint. Particularly relevant as Fore Coffee diversifies into donuts, providing a direct donut-coffee combination benchmark for menu strategy and pricing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/forecoffeeid
• Facebookfacebook.com/fore.coffee
• LinkedInlinkedin.com/company/fore-coffee

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds3 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fore Coffee