Canadian coffee chain Tim Hortons to expand in Southeast Asia
Thu, 02 Mar 2023 22:53:00 | Print | Email Share:
In an effort to generate roughly $300 million in sales by 2033, the Japanese trading and investment conglomerate Marubeni aims to bring hundreds of Tim Hortons coffee shop franchises to three Southeast Asian nations.
Tim Hortons, commonly nicknamed Tim's or Timmie's, is a multinational coffee house and restaurant chain from Canada. This Toronto-based coffee chain now boasts more than 5,600 outlets worldwide.
Restaurant Brands International, Tim Hortons' parent company, and Marubeni entered into a partnership last year to open additional coffee shops in Singapore, Malaysia, and Indonesia, according to Nikkei Asia.
According to the proposal, by 2033, hundreds of new Tim Hortons locations will have opened.
Marubeni expects to begin establishing franchises in Singapore and Malaysia at the start of the next fiscal year, while outlets being operational in Indonesia in 2024.
This is the first Tim Hortons’ Southeast Asian franchise in a pact with Marubeni.
The Japanese firm wants to take advantage of its existing retail network in Southeast Asia, which currently offers pharmaceuticals and cosmetics.
By: Celine Luu/ Vietnam Investment Review
Source: https://vir.com.vn/canadian-coffee-chain-tim-hortons-to-expand-in-southeast-asia-100124.html
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