The world-renowned Canadian coffee chain is set to launch in Singapore through an exclusive agreement with Marubeni’s Singapore-based subsidiary Marubeni Growth Capital Asia (MGCA).
The move comes as part of its strategy to further expand its presence in Southeast Asia and the Japanese trading group is also in talks with Tim Hortons Asia Pacific to take the chain into Malaysia and Indonesia.
According to Nikkei Asia, Marubeni will open stores in Singapore and Malaysia in the next fiscal year and in Indonesia in the fiscal year 2024. The Tokyo-based trading conglomerate plans to roll out “hundreds” of locations across the region in the next decade, aiming to reach US$300M in revenue.
Tim Hortons is owned by Restaurant Brands International which also owns fast food brands including Burger King and Popeyes. The coffee chain has more than 5,600 stores in 14 countries.
