The Yinchuan outlet highlights Tims China’s strategy to open coffee shops in ‘underpenetrated cities’ as it seeks to reach 1,000 stores by the end of the year
Tims China celebrating its 700th store in Yinchuan | Photo credit: Tims China
Tims China has said it is on track to reach 1,000 stores by the end of 2023 having expanded into China’s northwest with an outlet in the capital of the Ningxia Hui Autonomous Region, Yinchuan.
The Shanghai-based licensee of Tim Hortons in China now operates 700 stores across the country and is set to open ‘dozens’ of franchised stores in the next few months as part of its ‘disciplined growth strategy’ to enter new Chinese cities.
Tims China said its plans include a focus to open more stores in ‘underpenetrated cities’, with further outlets in China’s northwest expected before the end of the year.
“Our development team did an amazing job with our 700th store in Yinchuan. We designed this location to capture the unique culture and contrasts of this special part of China, and we hope both local guests and tourists feel that when they visit us. We look forward to opening more stores in the region as we continue to expand,” said Yongchen Lu, CEO of Tims China.
Formed in 2018 by Cartesian Capital Group and Restaurant Brands International, Tim Hortons opened its first outlet in China the following year in Shanghai.
Tims China achieved 50% year-on-year first quarter revenue growth to reach RMB 336.5m ($47.5m) during the three months ended 31 March 2023.