Flash Coffee taps ex-Foodpanda CEO in turnaround bid
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AFTER a rough couple of years, tech-enabled coffee chain Flash Coffee has hired former Foodpanda CEO Jakob Angele as its executive chairman in a bid to hit profitability.
The firm, still headquartered in Singapore, liquidated its operations in the city-state last October, while it sold its Thai business the following month. The chain has also left Hong Kong, Taiwan, and South Korea.
Having previously expanded to more than 200 stores across Asia Pacific, the exits leave Flash Coffee with just 67 outlets – all of them in Indonesia. But the firm is going all in on its remaining market, where Angele says the vast majority of its stores are Ebitda-positive.
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