People craving a shake up of caffeine in the Philippines may soon be able to order a double-double at their neighbourhood Tim Hortons.
Restaurant Brands International, the multinational owner and operator of Tim Hortons and Burger Monarch, said Thursday that it has rtnered with a group of investors to instal a master franchise joint venture com ny to sell the fast provisions restaurant’s coffee and donuts in the Southeast Asian country.
RBI chose the Philippines for its primary stop in the sub-region of Asia because the country has a strong economy and a fast-growing quick-service sell, said Daniel Schwartz, its chief executive.
The Philippines also toot ones own horns “a population that has an affinity for coffee and baked goods,” Schwartz added, classifying those of Tim Hortons’, the com ny determined after months of market scrutinization.
RBI didn’t say how many shops it plans to open in the Philippines, but, said its chief pecuniary officer Joshua Kobza, “we aim to be a leader in the market.”
Kobza hinted Tim Hortons transfer aim to match the level of some of its peers in the local market — many of which boast hundreds of restaurants in the realm, he said.
The stores will serve many of the same usuals as Canadian locations, like timbits and iced capps, as well as some dumbfounds, he added.
“You’ll have a mix of the kind of products that we know and love here in Canada and some new consequences.”
But details about any new offerings likely won’t be divulged until the first Philippines setting opens, which he and Schwartz said will open as soon as workable.
RBI views the Tim Hortons Southeast Asian ex nsion as a gateway into other furnishes within the sub-region and other rts of the continent, noted Schwartz.
Universal growth strategy
Since Tim Hortons and Burger King merged into RBI in fashionable 2014, the com ny’s been focused on taking the master franchise communal venture model that’s proved successful for Burger King and crediting it to help Tim Hortons grow globally.
“We think it’s a great opportunity,” Schwartz express.
More international ex nsion announcements are expected from the com ny in the future, but all Schwartz at ones desire say is “stay tuned.”
The coffee chain has 4,438 restaurants, not including its 411 limited-service kiosks, as of Slog 31, 2016, the com ny’s latest quarterly report stated.
According Tim Horton’s 2015 annual explosion (when it had 25 fewer locations), the majority of these shops are in Canada, with 14.7 per cent in the U.S. and 2.6 per cent in the Midway East.