FOOD & BEVERAGE
In Singapore, where coffee culture is as rich and diverse as its population, an Indonesian brand Fore Coffee is daring to challenge the established giants like Starbucks and Coffee Bean & Tea Leaf. Vico Lomar, CEO and co-founder of Fore Coffee, sees
Singapore not just as a business opportunity, but as a proving ground for his first international foray outside Indonesia. He attributes this choice to the city-state's role as Asia's central business hub and its residents' deep-seated coffee affinity.
When Singapore Business Review spoke to Vico, he shared the fact that Singaporeans on average consume around six to seven cups of coffee per week. Talking more about the numbers, he said that Singapore’s coffee market is projected to grow at a compound annual growth rate of 5%, reaching $1.2b by 2027.
Established in 2018, Fore’s company name was derived from the word “forest” to connote bringing life and goodness to its surroundings.
Edge over more established brands
This story is from the Issue 106 edition of Singapore Business Review.
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This story is from the Issue 106 edition of Singapore Business Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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