Holywings Group eyes 2025 IPO as it expands nightlife empire across Asia

Holywings Group, the company behind Bali’s opulent Atlas Beach Club, is preparing for a potential IPO in 2025 to expand its nightlife empire across Asia.

The Indonesian group, already operating over 50 bars and restaurants, aims to open a 1,000-capacity nightclub in Bangkok by 2025, marking its first step outside Indonesia.

Co-founder Ivan Tanjaya also revealed ambitious plans for expansion into Kuala Lumpur, Seoul, and Taipei.

With over 50 venues in Indonesia, including the world’s largest beach club in Bali, Holywings aims to hit 80 establishments by the end of 2025.

Its rapid growth, from a humble fried rice stall to a US$300 million entertainment giant, is one to be noted—especially in a country where alcohol faces high taxes.

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Despite its success, Holywings hasn't been without missteps.

In 2022, a controversial promotion offering free drinks to customers named Mohammed or Maria led to backlash, with outlets shut down and staff facing legal trouble.

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"We’ve learned our lesson,” said Tanjaya, explaining that this incident is one reason Holywings has diversified its business and is now expanding internationally.

Holywings is said to be eyeing a Bangkok launch ahead of Songkran, Thailand's famous water festival, which draws millions of tourists.

Back home in Indonesia, the company is tapping into Indonesia’s youthful, health-conscious market with concepts like a Gen Z nightclub and a wellness complex in Bali.

Via Japan Times & Kontan

Amira Waworuntu is Mixmag Asia’s Managing Editor, follow her on Instagram.

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