The Tokyo-based conglomerate will launch the Canadian coffee chain in Singapore within the next 12 months and is ‘in discussions’ to open stores in Malaysia and Indonesia, subject to regulatory approval
Tim Hortons is the first investment for Marubeni's new corporate development division | Photo credit: Tim Hortons
Tim Hortons is set to launch in Singapore in partnership with Japanese conglomerate Marubeni Corporation.
Tokyo-based Marubeni will launch the Canadian coffee chain via its wholly-owned Singapore-based subsidiary Marubeni Growth Capital Asia Pte. Ltd and is also ‘engaged in discussions’ with Tim Hortons APAC to launch the brand in Malaysia and Indonesia in 2024, subject to regulatory approval.
Nikkei Asia has also reported that Marubeni plans to open ‘hundreds of new Tim Hortons franchises’ across the three countries by 2033, utilising its existing retail network across southeast Asia. The Tokyo-based publication added that the agreement will generate $300m in annual sales for Marubeni.
Marubeni, which primarily operates pharmaceutical and cosmetics retail stores, launched a new corporate development division in 2022 focused on capturing growth among the ‘next generation’ of Southeast Asian and US consumers.
The company is seeking to make food and beverage brands a core segment of its business moving forward, with Tim Hortons the division’s first investment.
Tim Hortons, owned by Restaurant Brands International (RBI), operates 5,600 stores globally, including more than 1,700 in international markets outside of its native Canadian market.
The Ontario-based coffee chain opened its first south east Asian outlet in the Philippines in February 2017 at the Uptown Mall entertainment centre in Bonifacio Global City. Tim Hortons also entered the Thai market in January 2020 via franchise partner WeEat Co.
Tim Hortons currently operates 39 stores in the Philippines and 10 Thailand respectively.
The coffee chain increased its global footprint by more than 300 outlets in 2022, including its first stores in India with franchise partner AG Café. Tim Hortons currently has 11 outlets across Delhi, Chandigarh and Ludhiana and is seeking to reach 120 stores in India by the end of 2025.
In February 2023, Tim Hortons opened its first store in Pakistan – with the Lahore outlet generating record opening day sales for the brand.