Fashion
Canadian coffee chain Tim Hortons is set to make its Indian debut, eyeing rolling out more than 250 stores during the next five years.
The first Tim Hortons store is scheduled to open in New Delhi later this year, followed by Punjab and other parts of the country. The India launch marks the brand’s fourth country in the Asia-Pacific after Thailand, the Philippines and China. The brand was brought into the country under an exclusive partnership with AG Cafe, which is a joint venture owned by Apparel Group and Gateway Partners.
“The launch will lead to major investments in market-leading talent and innovation, creating new jobs and providing a direct boost to the hospitality sector,” said Navin Gurnaney, CEO of Tim Hortons India, who was previously CEO at Starbucks India.
As it enters India, the Canadian F&B chain will directly compete with Starbucks, which operates 224 stores in the country as of last August. Currently, Tim Hortons has more than 5100 restaurants across 13 countries, including the Middle East, China, the UK, Mexico, Spain, Thailand and the Philippines.
“The F&B sector is seeing a revival after a long period of covid-induced lull,” said Nilesh Ved, chairman and CEO of Apparel Group. “We see this as the most opportune time to introduce a new brand and have an aggressive plan to cater to the demand.”
The move comes after the company’s Chinese subsidiary Tims China announced its $100 million committed equity facility from CF Principal Investments, an affiliate of Cantor Fitzgerald earlier this week.
