In partnership with the Japanese conglomerate Marubeni Corporation, Tim Hortons is gearing up to launch in Singapore. Marubeni Growth Capital Asia Pte. Ltd, Marubeni’s wholly-owned subsidiary based in Singapore, will bring the Canadian coffee chain to the country. Marubeni is also discussing with Tim Hortons APAC to launch the brand in Malaysia and Indonesia in 2024, pending regulatory approval.
According to Nikkei Asia, Marubeni plans to open “hundreds of new Tim Hortons franchises” across Singapore, Malaysia, and Indonesia by 2033. This expansion will use the company’s existing retail network in Southeast Asia and generate USD 300 million in annual sales.
Marubeni, primarily a pharmaceutical and cosmetics retailer, launched a new corporate development division in 2022 to tap into the “next generation” of Southeast Asian and US consumers. The company aims to make food and beverage brands a core segment of its business, with Tim Hortons being the division’s first investment.
Tim Hortons, owned by Restaurant Brands International, operates over 5,600 stores globally, including more than 1,700 in international markets outside of Canada. In addition to its Singapore launch, the coffee chain opened its first store in the Philippines in 2017 and entered the Thai market in 2020 via franchise partner WeEat Co. Currently, Tim Hortons has 39 stores in the Philippines and 10 in Thailand.
In 2022, Tim Hortons expanded its global presence by more than 300 outlets, including its first stores in India with franchise partner AG Café. The company currently has 11 outlets in India and plans to reach 120 stores by the end of 2025.
(Source: World Coffee Portal)