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May 2017 - Forbes Indonesia

Welcome to one of the most popular annual issues of the year, the 2017 edition of the Rising Global Stars of Indonesia. This list of 20 emerging world-class brands is meant to demonstrate that Indonesia can become a creator of globally competitive goods and services and a -- home for companies which are on par in quality with the best from anywhere else in the globe.

What is fascinating about this list, now in its fourth year, is the broad range of companies that qualify for inclusion. They range from tobacco firm Djarum, a large well-established firm, to the boutique designer Rinaldy Yunardi. The list is agnostic on whether the firms are started or owned by locals or expatriates -- it is a good sign if non-Indonesians consider the country as an ideal place to be an entrepreneur and start a business. In many cases, they could potentially have chosen a different locale. To be sure, some products are also commodities, such as coconut milk. Yet that is the genius of being a good brand: the company behind Kara has learned to package and market coconut-based products through a respected brand.

The lessons of these Rising Global Stars has local as well as global significance. The domestic market is rapidly maturing, and driving local brands to raise the level of their overall game. Consumers are exposed to a wide range of local and international brands, and the Internet allows for instant and deep comparative global research into any item or service. Therefore, local consumers can quickly determine the true value of a brand against its global peers -- if it doesn?t deliver on its promises, on a world-class level, then it may be shunned. So local brands may need to become more global, one way or the other. Finally, this issue would not be complete without its counterpart event. For those on the list, Forbes Indonesia plans an annual dinner and awards event to celebrate the success of the Rising Global Stars.

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