PT. Map Boga Adiperkasa Bundle
What is the history of PT. Map Boga Adiperkasa?
PT. Map Boga Adiperkasa Tbk (MAPB) is a major Indonesian food and beverage retailer, known for its partnerships with global brands. Its history is marked by significant expansion and strategic brand introductions.
The company's journey began with the introduction of Starbucks to Indonesia in 2002, a key step in its establishment. Incorporated in 2013, it evolved from PT Creasi Aksesoris Indonesia to its current name in March 2016, aiming to offer premium dining experiences.
What is the brief history of PT. Map Boga Adiperkasa Company?
PT. Map Boga Adiperkasa Tbk (MAPB) started its significant journey in the Indonesian food and beverage sector by launching Starbucks in 2002. Initially known as PT Creasi Aksesoris Indonesia, it officially became PT Map Boga Adiperkasa Tbk in March 2016. The company, part of the larger PT Mitra Adiperkasa Tbk group, was founded with the goal of bringing high-quality international dining and coffee shop brands to the Indonesian market. This strategic focus has allowed it to build a strong presence and a diverse portfolio. Understanding the PT. Map Boga Adiperkasa BCG Matrix can offer insights into the strategic positioning of its various brands.
What is the PT. Map Boga Adiperkasa Founding Story?
The journey of PT Map Boga Adiperkasa Tbk began with its official incorporation in 2013, initially known as PT Creasi Aksesoris Indonesia. Its legal foundation was established through Deeds of Minutes of Meeting no. 01, dated October 1, 2024, receiving approval from the Minister of Law and Human Rights of the Republic of Indonesia on March 7, 2013. The company operates as a vital subsidiary within the esteemed PT Mitra Adiperkasa Tbk (MAP) group, a prominent lifestyle retailer in Indonesia.
The Genesis of a Food & Beverage Leader
PT Map Boga Adiperkasa Tbk's establishment was driven by a keen understanding of Indonesia's expanding market for international food and beverage brands. This strategic move capitalized on a growing middle class with increasing disposable income.
- Incorporated in 2013 as PT Creasi Aksesoris Indonesia.
- Operates as a subsidiary of PT Mitra Adiperkasa Tbk (MAP).
- Key figures from the MAP Group, like Virendra Prakash Sharma, played significant roles.
- The business model focused on securing master franchise agreements for global F&B concepts.
The initial opportunity identified was to capitalize on the growing demand for international food and beverage brands in Indonesia, a market characterized by a burgeoning middle class and increasing disposable income. The company's business model from the outset involved securing master franchise agreements for popular global F&B concepts. Its first major brand launch, Starbucks, in 2002, predates the official incorporation of PT Map Boga Adiperkasa, indicating an early strategic focus on the F&B sector under the broader MAP umbrella. This early foray into the F&B space laid crucial groundwork for the company's future development, as detailed in the Brief History of PT. Map Boga Adiperkasa.
The company's initial funding would have been derived from its parent company, PT Mitra Adiperkasa Tbk, which has a long-standing history of diversified retail operations. Anecdotes regarding the company name selection are limited, but the change from PT Creasi Aksesoris Indonesia to PT Map Boga Adiperkasa Tbk in March 2016 clearly signifies a strategic alignment with its core food and beverage business. This rebranding underscored its commitment to the F&B industry and its direct association with the MAP Group, leveraging the established reputation and resources of its parent company to overcome initial establishment challenges.
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What Drove the Early Growth of PT. Map Boga Adiperkasa?
The early years of PT Map Boga Adiperkasa Tbk were defined by a strategic approach to introducing and growing international food and beverage brands in Indonesia. Starting with the launch of Starbucks in 2002, the company steadily expanded its portfolio, laying the groundwork for its future success.
Brand Portfolio Expansion
Following the initial success of Starbucks, the company strategically introduced other popular brands. Key additions included Pizza Marzano and Krispy Kreme in 2006, followed by Cold Stone Creamery in 2008 and Godiva in 2013. These introductions solidified the company's presence in the casual dining and specialty beverage markets.
Operational Foundation and Growth
The company's headquarters were established in Jakarta Pusat, Indonesia, serving as the central hub for its expanding operations. While specific early team numbers are not detailed, by the end of 2024, the company had grown to employ 7,074 individuals, reflecting significant expansion over its history.
Initial Public Offering (IPO) Milestone
A pivotal moment in the company's history was its IPO on June 21, 2017, on the Indonesia Stock Exchange. This event, underwritten by PT Indo Premier Sekuritas, raised approximately IDR 37.25 billion by offering about 20% of its shares. The capital was earmarked for further business development and expansion initiatives.
Continued Diversification and Market Presence
The company continued its strategic growth by acquiring Genki Sushi in 2018 and PAUL Bakery in January 2019, alongside adding Subway to its portfolio. By June 2024, the company operated a total of 834 stores across Indonesia, demonstrating a robust expansion strategy. This growth trajectory highlights the company's commitment to capturing a significant share of the Indonesian F&B market, offering insights into the Revenue Streams & Business Model of PT. Map Boga Adiperkasa.
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What are the key Milestones in PT. Map Boga Adiperkasa history?
PT Map Boga Adiperkasa Tbk has a rich history marked by strategic brand introductions and market expansion, navigating both growth and significant challenges. The company's journey reflects a dynamic approach to the food and beverage sector in Indonesia.
| Year | Milestone |
|---|---|
| 2002 | Began operations with the launch of Starbucks in Indonesia. |
| 2006 | Introduced Pizza Marzano and Krispy Kreme to the Indonesian market. |
| 2008 | Expanded its portfolio with the addition of Cold Stone Creamery. |
| 2013 | Further diversified its offerings by bringing Godiva to Indonesia. |
| 2018 | Acquired Genki Sushi, enhancing its Japanese cuisine segment. |
| 2019 | Added PAUL Bakery to its brand lineup and also introduced Subway. |
The company has demonstrated innovation through operational advancements and the introduction of unique concepts. Genki Sushi, for instance, brought the 'kaiten sushi' conveyor belt system to Indonesia, offering a novel dining experience.
Starbucks Expansion
The successful launch and widespread expansion of Starbucks across Indonesia since 2002 established a dominant presence in the country's coffee shop market.
Multi-Brand Portfolio Growth
Strategic introductions and acquisitions of international brands like Pizza Marzano, Krispy Kreme, Cold Stone Creamery, Godiva, Genki Sushi, PAUL Bakery, and Subway have created a robust and diverse brand portfolio.
Kaiten Sushi Concept
The introduction of Genki Sushi's 'kaiten sushi' concept, utilizing conveyor belts for serving, provided a unique and engaging dining experience for Indonesian consumers.
Food Safety Certification
Achieving ISO 22000 certification for its production centers for Cold Stone Creamery and Krispy Kreme underscores a commitment to maintaining high standards in food safety management.
The company has faced considerable challenges, notably a net loss of IDR 146.1 billion in Q1 2024, a significant shift from the IDR 104.6 billion profit in 2023, largely due to external pressures impacting sales.
Impact of Boycott Actions
Ongoing boycott actions led to a substantial 17.7% decline in sales, reaching Rp788 billion in Q1 2024, directly contributing to the company's financial downturn and net loss.
Financial Performance Downturn
Despite efforts to cut operational expenses by 9.3% in 2024, the company recorded a net loss, highlighting the severity of the market pressures faced.
Addressing Social Pressure
The company has actively addressed social pressures and acknowledged the impact of vandalism, emphasizing the local identity of its workforce to mitigate negative perceptions.
Strategic Adaptation
The company is focusing on strengthening its strategy through market expansion via digital channels and maintaining a commitment to ESG principles, as detailed in their Mission, Vision & Core Values of PT. Map Boga Adiperkasa.
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What is the Timeline of Key Events for PT. Map Boga Adiperkasa?
The PT Map Boga Adiperkasa history showcases a dynamic expansion of its retail food and beverage portfolio. From its initial brand launches to its public listing, the company has strategically grown its presence in the Indonesian market, offering a diverse range of popular international brands. This journey reflects a consistent effort to capture market share and cater to evolving consumer tastes, as detailed in its Target Market of PT. Map Boga Adiperkasa.
| Year | Key Event |
|---|---|
| 2002 | The company launched Starbucks in Indonesia, opening its first store at Plaza Indonesia. |
| 2006 | Pizza Marzano and Krispy Kreme were introduced to the Indonesian market. |
| 2008 | Cold Stone Creamery began its operations in Indonesia. |
| 2013 | PT Map Boga Adiperkasa Tbk was incorporated, and Godiva was launched in Indonesia. |
| 2016 | The company officially changed its name to PT Map Boga Adiperkasa Tbk in March. |
| 2017 | The company was listed on the Indonesia Stock Exchange (IDX) in June, raising IDR 37.25 billion through its IPO. |
| 2018 | Genki Sushi was acquired by the company. |
| 2019 | PAUL Bakery was acquired in January. |
| 2024 (Q1) | A net loss of IDR 22.2 billion was reported, with revenue declining by 17.7% to IDR 787.6 billion, partly due to boycott actions. |
| 2024 (Full Year) | The company recorded a net loss of IDR 146.1 billion on revenue of IDR 3.228 trillion, with a total of 7,074 employees. |
| 2025 (Q1) | A net loss of IDR 53.37 billion was reported on sales of IDR 719.612 billion, operating over 800 stores across 58 cities. |
Navigating Market Challenges
Despite a net loss of IDR 146.1 billion in 2024, the company is focused on recovery. The removal of Starbucks from boycott lists in July 2024 is anticipated to boost performance in 2025.
Strategic Growth Initiatives
The parent company has allocated IDR 2 trillion in capital expenditure for 2024 to support business expansion and new store openings across its group. This investment underscores a commitment to long-term development.
Enhancing Customer Experience
Future strategies include enhancing operational efficiency and customer experience. The company aims to adapt to changing consumer preferences and leverage digital platforms for sustained growth.
Commitment to ESG Principles
The company continues to prioritize environmental, social, and governance (ESG) principles in its operations. This focus aims to maintain its position as a leading F&B player while ensuring responsible business practices.
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