Branding Strategy of Kopi Kenangan Mantan, so It Becomes the First

Unicorn F&B Company in Southeast Asia

Imam Suryono and Tania Natalia

Universitas 17 Agustus 1945 Jakarta, Jl. Sunter Permai Raya, North Jakarta, Indonesia

Keywords: Branding Strategy, Coffee Unicorn, NVivo.

Abstract: The objective of this research is to identify the branding strategies required by coffee business owners to

expand their business overseas. The research draws on credible and relevant data sources, including online

news, YouTube, and research articles from 2021 to 2023. The language used is clear, concise, and objective,

with a formal register and precise word choice. The text adheres to conventional academic structure and

formatting, with a logical flow of information and causal connections between statements. The text is free

from grammatical errors, spelling mistakes, and punctuation errors. No additional aspects have been added to

the content. The data is processed using NVivo 12 Plus software. There are four stages involved in data

processing: data input, coding, visualization, and conclusion determination. To evaluate coding validity, a

triangulation approach was used. The research has provided answers to the initial research questions. The

coffee branding strategy has been successful in establishing a memorable coffee brand abroad, with outlets

now open in five Southeast Asian countries. The branding strategy comprises of eight points: affordable

pricing, leveraging social media, collaborating with artists, expanding the business, implementing the grab-

and-go concept, innovating products, using unique product names, and maintaining high product and service

quality. This research recommends that coffee business owners looking to enhance their brand reputation

should adopt the aforementioned eight-point branding strategy used by Kopi Kenangan. This is very important

because it can bring coffee to the level of Southeast Asia, this coffee even became the first unicorn F&B

company in Southeast Asia.

1 INTRODUCTION

In 2023, Adel Andila Putri identified three coffee

shops that received top brand awards. According to

statistical data, Kenangan Coffee had the highest

sales increase at 39.70 percent, making it the top

brand. These statistics indicate that Kenangan Coffee,

a local coffee, is highly sought after by the people of

Indonesia. The menu offers a variety of flavours, but

the former memorable coffee menu has become a

staple at the coffee shop. It is not surprising that the

popular coffee brand, Kopi Kenangan, has become a

staple menu item due to its distinctive and unique

taste that captivates the Indonesian palate. Currently,

Kopi Kenangan has over 175 outlets in Indonesia,

making it a favourite among Indonesians in 2023. As

the top brand, it has surpassed the previously popular

Putri coffee (Putri, 2023). Kopi Kenangan has

successfully raised $96 million in a Series C funding

round, valuing the company at over $1 billion. The

funding round was led by Tybourne Capital

Management from Hong Kong, with participation

from existing investors such as Horizons Ventures

owned by Li Ka-shing and B Capital owned by

Eduardo Saverin. Kopi Kenangan intends to use the

new investment to expand its operations both

domestically and overseas, with a particular focus on

Southeast Asia (Wibisono, 2021).

Previous research has made several achievements

related to the studied problems. According to

Firmansyah (2022), the memorable coffee branding

strategy occurs due to the emotional connection

between brands and consumers, which can bind

consumers to use the product for a long time. One

brand that has successfully built an emotional

connection with consumers is the Kopi Kenangan

brand. Establishing trust and confidence in a brand

can significantly impact consumer loyalty. Scelly et

al. (2021) stated that Kopi Kenangan brand awareness

began with little recognition, but eventually reached

its peak, indicating the brand's success in

development and competition.

356

Suryono, I. and Natalia, T.

Branding Strategy of Kopi Kenangan Mantan, so It Becomes the First Unicorn F&B Company in Southeast Asia.

DOI: 10.5220/0012582200003821

Paper published under CC license (CC BY-NC-ND 4.0)

In Proceedings of the 4th International Seminar and Call for Paper (ISCP UTA ’45 JAKARTA 2023), pages 356-363

ISBN: 978-989-758-691-0; ISSN: 2828-853X

The study differs from previous research in terms

of the problem investigated and the resulting

recommendations. The aim of the research is to

develop strategies that coffee business owners can

implement to expand their business overseas and

appeal to foreign customers. In contrast, previous

research only provided eight strategies for advancing

the coffee business. This research conducts coding

processes from various sources, combines them in

one visualization model, and draws conclusions using

the principle of triangulation. This research model is

relatively new and has not been widely explored by

researchers.

The aim of this study was to identify effective

branding strategies for coffee businesses seeking to

expand internationally. The research provides eight

strategic points for branding coffee products, which

can be used as a reference by coffee business owners

to attract investment and expand their outlets. The

purpose of this research is to explain and promote the

point strategy employed by Kopi Kenangan to

readers, and to provide information for aspiring

coffee business owners to emulate the success of

Kopi Kenangan.

The study suggests that coffee business owners

seeking to enhance their reputation or brand can adopt

the eight-point branding strategy employed by

Kenangan coffee. This is significant as it could

elevate Kenangan coffee to the status of a Southeast

Asian leader, potentially making it the first unicorn

F&B company in the region.

2 LITERATUR REVIEW

Brand is an identity that distinguishes a product from

others. Branding is a communication activity that

creates a character or identity to differentiate a

product. A branding strategy is a tool that helps

understand the brand and plan its communication to

the audience. A well-developed brand strategy affects

the entire brand and has a direct relationship with

consumers and their emotions. This passage explains

how a brand's non-physical attributes and benefits can

be used to create a brand image, highlight unique

selling points, and establish long-term goals and

sustainability. To develop a strong branding strategy,

it is important to define a brand's beliefs, promises to

consumers, and personality through purpose,

consistency, emotion, flexibility, employee

engagement, loyalty, and competitive awareness.

Unicorn is a company valued at US $1 billion or Rp

14 trillion. The term 'unicorn' was first coined by

venture capitalist and founder of Cowboy Ventures,

Aileen Lee, in 2013. The term is derived from Greek

mythological animals that resemble horses with horns

on their heads. It is now used to describe companies

that have reached a valuation of US $1 billion. Kopi

Kenangan is a notable F&B company with a valuation

exceeding US $1 billion, earning it the nickname of

the first unicorn of F&B companies (Fikriansyah,

2022).

3 METHODS

This study employed qualitative research methods

through a systematic literature review approach. The

literature reviewed was not limited to research

articles but also included credible sources obtained

online, such as YouTube, online news, research

articles, and social media. The literature reviewed

was not limited to research articles but also included

credible sources obtained online, such as YouTube,

online news, research articles, and social media. The

text adheres to conventional structure, including

common academic sections and consistent citation

and footnote styles. The text is free from

grammatical errors, spelling mistakes, and

punctuation errors. The literature reviewed was not

limited to research articles but also included credible

sources obtained online, such as YouTube, online

news, research articles, and social media. It is

important to note that all data sources used were

credible. The data sources were searched using

relevant keywords that matched the research

question. The language used throughout the text is

clear, concise, and objective, with a formal register

and precise word choice. The structure of the text is

logical, with causal connections between statements

and a clear flow of information. The reason for using

this data is its easy accessibility on the internet

(Hafidhah & Yandari, 2021). The selected data

samples are from the years 2021 to 2023. The data

processing was done using NVivo 12 Plus software,

which was chosen for its ability to produce coding

visualization images and user-friendly interface

(Sitorus & Tambun, 2023). NVivo data processing

involves four stages: data input, coding,

visualization, and conclusion (Sitorus & Tambun,

2023). The first stage, data input uses two methods,

namely internal data input and external data. Internal

data is data that is inputted to NVivo without using

an internet connection. This data is usually data that

is already available on a laptop, such as a research

article. While external data is data that the input

process to NVivo uses an internet connection, the

data input process uses the Ncapture for Nvivo

Branding Strategy of Kopi Kenangan Mantan, so It Becomes the First Unicorn F&B Company in Southeast Asia

357

facility. Examples of external data from the internet

such as youtube, online news, and various social

media. The second stage is coding data in accordance

with the answers to the research questions. Coding is

a simple word or sentence that is the answer to a

research question. At this stage, content analysis is

carried out, which is the stage of understanding

words or sentences in the research data (Tambun,

2021). Especially for the coding process for youtube

data sources or social media sources in the form of

videos, coding is done after there is a transcript of

youtube content or video. The analysis was carried

out by making transcripts, then the coding process

was carried out (Salahudin et al., 2020). The third

stage involves creating a visualization of the coding.

Visualization coding is a collection of codes that

form an image, which is interrelated with various

data sources. This coding image is analyzed to draw

research conclusions. The fourth stage involves

determining the research conclusions. provide an

answer to the research question based on the existing

codes. Coding is considered to be highly valid if it is

confirmed by multiple data sources, at least three

times. This principle measures coding validity using

the triangulation method (Natow, 2020).

Additionally, the coding is sorted from the most

confirmed to the least confirmed. These codes serve

as answers to research questions and conclusions.

4 RESULTS AND DISCUSSION

The research yielded references from various sources,

including 5 from YouTube, 15 from online news, and

8 from research articles. The coding process was

conducted using NVivo 12 Plus software. At least

eight valid and confirmed codings were identified in

the data source studied at least three times. The

resulting coding is presented in a visualization image.

Figure 1: Image Visualization Coding.

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Figure 1 contains the coding that answers a research

question. The coding was generated through content

analysis of various data using NVivo 12 Plus

software. The table below summarizes the intensity of

each coding.

Table 1: Coding Recapitulation.

No. Coding Intensity Reference

1 Affordable Prices 6 ● (CNBC, 2022)

● (Anjani Ayu Pratiwi, Naomi Sianturi, Santi Pertiwi

Hari Sandi, 2023)

● (Naufal Mahdy Harish, Ratnaningsih, Renny Fazrin

Nisa, 2022)

● (Overpost, 2023)

● (Scelly et al., 2021)

● (Indonesia, 2023)

2 Benefit Of Social Media 7 ● (Christian & Kartawidjaja, 2021)

● (Firmansyah, 2022)

● (Shiella Nathalie Hutany, Aurelia Agatha, 2022)

● (Damayanti, 2021)

● (Widiarko, 2023)

● (Community, 2023)

● (Simamora, 2022)

3 Collaboration With Artist 6 ● (Fadhil, 2023)

● (Ermaningtiastuti, 2022)

● (Firmansyah, 2022)

● (Widiarko, 2023)

● (Damayanti, 2021)

● (Indonesia, 2023)

4 Expand 7 ● (Sekuritas, 2021)

● (Belajarlagi, 2022)

● (CNBC, 2023)

● (Fisamawati, 2021)

● (Yuliastuti, 2021)

● (Simamora, 2022)

● (Kenangan, 2023)

5 Grab And Go Concept 7 ● (Shiella Nathalie Hutany, Aurelia Agatha, 2022)

● (Widiarko, 2023)

● (Pratama, 2023)

● (Naufal Mahdy Harish, Ratnaningsih, Renny Fazrin

Nisa, 2022)

● (Overpost, 2023)

● (Indonesia, 2023)

● (Setyawan, 2021)

Branding Strategy of Kopi Kenangan Mantan, so It Becomes the First Unicorn F&B Company in Southeast Asia

359

Table 1: Coding Recapitulation (cont.).

No. Coding Intensity Reference

6 Innovate Product 9 ● (Fadhil, 2023)

● (Ermaningtiastuti, 2022)

● (Anjani Ayu Pratiwi, Naomi Sianturi, Santi Pertiwi

Hari Sandi, 2023)

● (Pratama, 2023)

● (Muhammad, 2022)

● (Anjelita, 2021)

● (Setiawan, 2021)

● (Kenangan, 2023)

● (Ulya et al., 2023)

7 Unique Product Name 4 ● (Sekuritas, 2021)

● (Belajarlagi, 2022)

● (Setiawan, 2021)

● (Community, 2023)

8 Product And Service

Quality

9 ● (Christian & Kartawidjaja, 2021)

● (Anjani Ayu Pratiwi, Naomi Sianturi, Santi Pertiwi

Hari Sandi, 2023)

● (Setyawan, 2021)

● (Belajarlagi, 2022)

● (Scelly et al., 2021)

● (CNBC, 2023)

● (Fisamawati, 2021)

● (Community, 2023)

● (Yuliastuti, 2021)

4.1 Affordable Prices

Kopi Kenangan is a coffee brand that provides quality

coffee at affordable prices. The company employs a

pricing strategy that attracts many customers without

compromising the taste and quality of local coffee.

Kopi Kenangan adjusts its prices to suit the average

income of Indonesian people. Despite the

affordability, the company guarantees the use of high-

quality raw materials. (Scelly et al., 2021)

4.2 Benefit of Social Media

Kopi Kenangan Mantan utilises social media as a

cost-effective promotional medium. The company

uploads content on social media to enhance its image

and brand, thereby increasing awareness of the Kopi

Kenangan brand. (Cassy, 2022).

4.3 Collaboration with Artist

Collaboration can greatly increase the exposure of

Kenangan Coffee products, which can help to build

brand awareness. This collaboration can take the form

of introducing new and interesting beverages and

merchandise, as well as partnering with brand

ambassadors. (Widiarko, 2023).

4.4 Expand

In order to better serve its customers and provide

coffee enthusiasts with easy access to high-quality

coffee products, Kopi Kenangan has expanded its

operations to include outlets abroad. Additionally, the

company has entered the fast-moving consumer

goods (FMCG) sector by offering ready-to-drink

packaged coffee products. It is worth noting that

Kenangan Coffee is committed to maintaining the

quality of its coffee for its customers and therefore

does not offer franchising opportunities. (Sekuritas,

2021).

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4.5 Grab and Go Concept

Kopi Kenangan employs a grab-and-go concept to

attract customers. This allows buyers to conveniently

order through the application and pick up their coffee

without the need to queue or visit the store. This

allows buyers to conveniently order through the

application and pick up their coffee without the need

to queue or visit the store. This allows buyers to

conveniently order through the application and pick

up their coffee without the need to queue or visit the

store. Additionally, customers can have their coffee

delivered to their homes. (Widiarko, 2023).

4.6 Innovate Product

Kopi Kenangan has made significant innovations to

enhance the uniqueness of its products, enabling it to

compete effectively in both domestic and

international markets. These innovations include an

expanded beverage menu and collaborations with

Chiggo and Bread Stories to offer food products.

Despite achieving Unicorn status, Kopi Kenangan

remains committed to ongoing innovation to drive its

business forward. Kopi Kenangan aims not only to

become a unicorn but also to innovate continuously

by releasing new products and expandi.ng branches

abroad. (Muhammad, 2022).

4.7 Unique Product Name

Kopi Kenangan aims to create unique and memorable

product names that resonate with consumers. This is

achieved by incorporating local elements and

utilizing differentiation strategies to stand out from

competitors. The brand also uses nostalgic names to

evoke fond memories and create a lasting impression.

While this naming approach may seem

unconventional, it has proven to be effective in

attracting customers (Anjelita, 2021).

4.8 Product and Service Quality

Despite its affordable price, Kenangan Coffee does

not compromise on the quality of its coffee. They use

high-quality materials in their coffee-making process

and focus on ensuring the quality of each beverage

variant. Kenangan Coffee also prioritises providing

excellent service to its customers. Maintaining good

service can enhance the company's image. Kenangan

Academy was established to train staff to provide the

best service to consumers. (Community, 2023).

5 CONCLUSIONS

The study has successfully answered the research

questions posed at the beginning. Kenangan Coffee's

branding strategy has been instrumental in its

expansion overseas, with the ability to open outlets in

five Southeast Asian countries. The eight key

elements of the branding strategy include affordable

pricing, leveraging social media, collaborating with

artists, expanding operations, implementing a grab-

and-go concept, innovating products, using unique

product names, and maintaining high product and

service quality. The study suggests that coffee

business owners seeking to enhance their reputation

or brand can adopt the eight-point branding strategy

employed by Kenangan coffee. This is significant as

it could elevate Kenangan coffee to the status of a

Southeast Asian leader and potentially make it the

first unicorn F&B company in the region. It is

recommended that future researchers conduct further

research on hedonistic shopping motives as a

moderator of branding strategies and innovations in

Kopi Kenangan Mantan.

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Branding Strategy of Kopi Kenangan Mantan, so It Becomes the First Unicorn F&B Company in Southeast Asia

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