Canadian coffee and doughnut chain Tim Hortons recently announced they are planning to open 120 stores in India over the next three years. It’s one of the largest international expansions for the iconic food chain.
The chain, which debuted in August with its first outlet in India, is starting by focusing on North India. With an investment of up to Rs 300 crore, it plans to later expand to other regions as well. The expansion of Tim Hortons in India is part of the company’s goal to rapidly expand its global presence.
Company’s India CEO Navin Gurnaney stated on the sidelines of the Indian Restaurant Congress 2022-
“The commitment that I made to the board is in the first 36 months of operation, in the first three years, there’ll be 120 stores (in India). The company could exceed the target as the first year is focussed on “building the foundation” with 20 new stores followed by another 50 new stores in the following 12 months.
He said that this will be followed by 60 additional new stores in the next year. He said that all the stores will be company-owned, with each store costing them between Rs 2 crore to Rs. 2.5crore investment.
The company has plans to open three additional stores by December, bringing the total number of Tim Hortons locations in India up to six. This expansion comes as Delhi-NCR currently houses five Tim Hortons stores, with one more located in Chandigarh.
CEO further announced that-
“We’re currently focused on the north, which is Delhi and Punjab but by early summer, late spring, we will be in Mumbai, Pune, Surat, and Ahmedabad. There will be some off-highway locations. We are actually considering a few different locations in Bangalore.”
These will be located in malls, high streets, airports, and office complexes, he added. Confident in the future of the Indian market, he said-
“It’s the consumer spending in India. The global aspirations, the number of industries that are coming to India and adding to people’s ability to spend more, the social media that makes them think differently globally, any retail brand has prima facie the possibility of success, then it depends on how well you execute”.
Implementing this marketing strategy will result in numerous new customers and create a win-win situation. The expansion is likely to give competition to other international coffee chain brands in India, such as Starbucks, Costa Coffee, and CafCoffee Day.
Shivendra Tiwari is an Engineer and an MBA in Marketing. He is the Content head at Marketing91 and a thorough Online Marketing enthusiast. Shivendra loves to follow different brands and study their Business and Marketing tactics.