Tim Hortons to open 1500 stores in China with Cartesian Capital
Canadian coffee and donut chain Tim Hortons plans to open more than 1500 restaurants in China.
“China’s population and vibrant economy represent an excellent growth opportunity for Tim Hortons in the coming years,” said president Alex Macedo, announcing the plan.
“We have already seen Canada’s Chinese community embrace Tim Hortons and we now have the opportunity to bring the best of our Canadian brand to China,” he said.
The restaurants will be rolled out over 10 years under a master franchise agreement with Cartesian Capital Group, the same company which has opened 900 Burger King restaurants in China after signing a development deal in 2012.
The Tim Hortons, Burger King and Popeyes Louisiana Kitchen businesses are all owned by Restaurant Brands, which is pursuing aggressive international growth for all three. Tim Hortons has 4700 restaurants worldwide, mostly in the US and Canada, but it has already opened outlets in the UK, Spain and Mexico.
“We have two main priorities at Tim Hortons: building and strengthening our brand in Canada; and expanding our iconic Canadian brand to the rest of the world,” said Macedo.
Analysts are wary of any impact Donald Trump’s trade war may have on US brands in China.
“There is the risk that there will be more anti-Western or anti-US sentiment in consumers that develops over time,” said Bloomberg Intelligence analyst Jennifer Bartashus. “If that happens, same-store sales could come under severe pressure.”