Fore Kopi Accelerates National Expansion as IDX's First and Only Listed Coffee Chain
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JAKARTA, Investortrust.id — PT Fore Kopi Indonesia Tbk or FORE expands rapidly across Indonesia as the first and only coffee chain listed on the Indonesia Stock Exchange with 290 outlets in 50 cities from Senopati to Paniki in Manado, strengthening its affordable premium strategy after its strong April IPO that raised Rp 353.44 billion, equal to $22 million.
PT Fore Kopi Indonesia Tbk reached the northern tip of Sulawesi with its Paniki outlet, reflecting a deliberate push to deepen penetration in underserved markets beyond Jakarta.
FORE made its market debut on April 14, 2025 by issuing 1.88 billion shares at Rp 188 each, and the stock hit the maximum allowed daily increase on the first day as demand far exceeded available shares.
The company launched in August 2018 alongside its digital app targeting upper middle consumers shaped by Indonesia's fast growing technology ecosystem.
“Our goal is to become the best coffee network in Indonesia, with coffee made from local beans to create a special experience every day,” said Strategy and Corporate Development Director M Fahmi Rachmattulah at Fore Donut Panglima Polim on Friday, Nov 21, 2025.
Fahmi said Fore positioned itself as affordable premium to make high quality coffee more accessible. “We believe that coffee is not just a beverage, but an essential need in life, which we translate into our FOREveryone tagline,” he said.
The forest inspired name reflected the company’s sustainable vision supported by local coffee farmers and palm sugar artisans as core suppliers.
Fore opened its first store in Senopati in 2018 and exceeded 100 outlets in 2019 as revenue strengthened. The company introduced one liter fresh made to order drinks in 2020 when the pandemic forced temporary closures across the industry.
Fore entered the food segment through Fore Deli in 2021 and expanded further with Fore Junior in 2022, where its Butterscotch Sea Salt Latte reached 14 million cups.
Fore earned halal certification and launched the Fore Grind Master barista competition in 2023. The company added more than 60 new stores in 2024 and posted strong profit growth ahead of its IPO the following year.
“Our expansion is built on structured and planned processes, starting from data based location analysis to assessing accessibility, visibility, supporting facilities, and historical performance,” Fahmi said. He said this discipline ensured strong outlet performance potential across tier two and tier three cities.
Fahmi added that Fore’s affordable premium positioning strengthened national relevance and supported rapid yet controlled expansion. “This directly supports our ability to scale quickly while keeping operations disciplined,” he said.