- Indonesian travel gear brand Torch receives funding from Init 6.
- Company aims for 50 stores by 2029 and US$70 million annual revenue.
- Torch considers expansion into Southeast Asian markets after solidifying its position in Indonesia.
Indonesian travel gear brand Torch has secured undisclosed funding from Init 6, the investment firm founded by Bukalapak’s Achmad Zaky and Nugroho Herucahyono.
Founded in 2015, Torch aims to be the “Ikea of outdoor gear,” offering a wide range of travel essentials.
Brick-and-mortar blazes on
The Bandung-based company reported nearly US$10 million in revenue for 2023, doubling its previous year’s figures.
Despite a strong online presence, Torch remains committed to physical retail expansion. The company currently operates nine stores across Indonesia and plans to reach 50 by 2029.
CEO Ben Wirawan emphasizes the importance of brick-and-mortar locations for user acquisition, especially in cities outside Java.
Thinking outside the backpack
Torch’s design philosophy focuses on longevity rather than trends, resulting in product lifecycles spanning three to four years.
The company allocates up to 20% of its monthly production budget to developing new products. Looking ahead, Torch is eyeing potential expansion into Malaysia, Thailand, and the Philippines, markets Wirawan believes are ripe for a strong local travel gear brand.
To read the original article: https://www.techinasia.com/init-6-adds-travel-gear-brand-torch-to-d2c-portfolio
