Friday, March 24, 2023
Homemanaging asiaMeet Indonesia's fearless restaurant tycoons

Meet Indonesia’s fearless restaurant tycoons

With one of the youngest populations in the world, Indonesia is home to a new breed of entrepreneurs who are undeterred by high risks.

CNBC's Christine Tan interviewed the three founders of some of the country's hottest restaurants on this week's segment of Managing Asia to gain insight into their bold ventures.

Ismaya Group, a food and beverage firm that has dished out concepts such as Shanghai-inspired bistros, Japanese fusion and specialty coffee to a rising pool of wealthy consumers, brings in annual revenues of over $70 million and is planning 14 different outlets within the next year. Their restaurants are frequented by Jakarta's socialites and are housed within the city's most fashionable shopping malls.

(Read more: Will Indonesia's export ban hurt its current account?)

The group has also branched out into the concert promotion business with Ismaya Live, which brought Katy Perry to Indonesia.

As the world's fourth most populous country, Indonesia has long enjoyed a youth bulge with over 20 percent of its residents under 30. That allows the economy to enjoy a "demographic dividend," where a younger, productive labor force outweighs the number of dependents, i.e. children and the elderly.

Photographer | Collection | Getty Images

Apart from giving the country a competitive edge over the rest of Asia's rapidly aging nations, a younger workforce also translates into a consumption boom, which Ismaya's Bram Hendrata, Brian Sutanto and Christian Rijanto, all former investment bankers and business consultants, have tapped into.

(Read more: Indonesia December trade surplus at $1.52 billion)

"We are [better able] to gather this market demographic: the highly influential. They are able to spend with the market and middle class growing," Rijanto told Christine Tan.

Riding on those factors, the founders now want to make a foray into property development.

"I think we can get a good piece of land to build an apartment or an office building. I think eventually, we will want to build hotels," said Hendrata.


Most Popular