71 Billion Funds, Gibran Targets To Open 100 Goola Outlets in 2020

Gibran Rakabuming Raka plans to further expand its startup business, Goola, after making an initial investment of US $ 5 million or around Rp. 70 billion. After the first outlet was established on August 17, 2019, the culinary pioneering company now has five outlets in Jakarta. It is expected that in 2019 15 other Goola outlets will be opened in Indonesia, and will increase to 100 in 2020.

“Armed with an investment fund of Rp 71 billion, Goola also wants to expand to other Southeast Asian countries in 2019,” as quoted by Alpha JWC Ventures Managing Partner, Jefrey Joe, in an official statement received in Jakarta, Friday, August 16, 2019.

Joe previously explained, Goola had received initial funding from Alpha JWC Ventures’ venture capital worth US $ 5 million or equivalent to Rp 71 billion. “We see great potential and early success of Goola. With our experience and expertise, we believe Alpha JWC Ventures will be the right partner for the great mission and Goola’s expansion plans,” he said.

Goola was founded by Kevin Susanto and Gibran Rakabuming, the first son of President Jokowi, in 2018. His passion is creating traditional drinks that are packaged in a modern way and can be enjoyed anywhere.

Characteristic “old school” Goola drinks are maintained for example by using a Chinese girlfriend to replace bubble tea and coconut milk instead of cheese foam. Goola is not afraid even though the current culinary trends are dominated by bubble tea and iced coffee.

However, Goola does not plan to make their business a franchise, even though it wants to increase the number of outlets. One reason for refusing to open a franchise is to maintain product quality.

Gibran is optimistic that Indonesian beverage products can be well received by the market. “If sweet drinks from other countries can be popular, why can’t our local drinks? Our products have been well received by customers,” he said.

Moreover, said Gibran, Goola not only follows the trend of consumption of sweet drinks that are on the rise. “Many (consumers) say, our drinks bring back memories of their childhood and remind them of a tradition that has long been forgotten.” Goola comes with drinks that are familiar to Indonesian people, such as doger ice, green bean ice, and sugar palm Goola.