Restaurant Brands International eyes massive China expansion
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Restaurant Brands International, parent of the Burger King, Tim Hortons and Popeyes Louisiana Kitchen brands, is eyeing significant expansion in China despite current trade tensions.
The firm is aiming to surpass 40,000 locations in the territory within 10 years, making the firm one of the world’s largest restaurant chains.
“Our view is that we want to be there, and we will be there for the long term,” said company CEO Jose Cil. “It’s an amazing consumption market, growing tremendously.”
The firm is making its intentions known in an atmosphere of a deteriorating trade relationship between China and the US. Before tensions heightened last week, China was already on track to experience its worst GDP growth in 29 years.
Restaurant Brands is aiming to launch 1500 Tim Hortons locations within China within the next decade as the brand’s growth is slowing in its home Canadian market. There are currently just four Tim Hortons in the territory, compared to more than 1000 Burger King restaurants.
Questions & Answers
Q.Which of its brands is Restaurant Brands International focusing on for this expansion in China?
Which of its brands is Restaurant Brands International focusing on for this expansion in China?
Restaurant Brands International intends to launch 1500 Tim Hortons locations in China within the next ten years. This focus comes as the brand's growth slows in its Canadian home market.
Q.What is the current number of locations for Restaurant Brands International's different brands in China?
What is the current number of locations for Restaurant Brands International's different brands in China?
There are currently over 1000 Burger King restaurants in China. In contrast, Tim Hortons presently has just four locations open in the territory.
Q.Why is Restaurant Brands International committing to such a large expansion in China despite the current economic and political climate?
Why is Restaurant Brands International committing to such a large expansion in China despite the current economic and political climate?
The company views China as an "amazing consumption market" that is growing tremendously. CEO Jose Cil stated their intention to be there for the long term, despite current trade tensions and a deteriorating trade relationship.
Q.What is the overall target for Restaurant Brands International's presence in China within the next decade?
What is the overall target for Restaurant Brands International's presence in China within the next decade?
The firm aims to exceed 40,000 locations across all its brands in China within the next ten years. This target is set to make it one of the world's largest restaurant chains.
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