Canadian coffee and baked food giant Tim Hortons opened its two outlets in Delhi, but with a unique menu. In a bid to cater to Indian customers and unique Indian palette, the coffee brand is offering food items like wraps with fillings of lamb seekh and paneer tikka to set the stage.
Tim Hortons, which was founded in 1964, is known for its signature coffee, baked food, and beverages all over the world. India is the fourth country in the Asia-Pacific region that Tim Hortons is entering. The brand wants to open 120 outlets in India with an investment of around 240 crore, according to its parent company Restaurant Brands International.
The company will act as the master franchisee of the entire brand in India after a joint venture entity owned by Apparel Group and Gateway Partners, which is located in Delhi s Select Citywalk Mall Saket and DLF Cyberhub Gurugram.
The brand will open outlets in Punjab after Delhi, according to company sources. The management will come up with 120 stores in the next three years and expand to 250 -- 300 more in the next five years.
India is a crucial market for Tim Hortons after getting a good response in China, Saudi Arabia, and the UK. The Indian coffee market is expected to reach $4.2 billion in size by the year 2025, according to data from GlobalData, with out-of-home consumption accounting for about 20 per cent. The coffee retail chain market is expected to touch the $850 million mark by 2025, with prominent players like Starbucks, Caf Coffee Day, and others.
Tim Hortons operates more than 5,100 stores around the world, which is principally held by Restaurant Brands International RBI Inc. In more than 100 countries, including the Middle East, China, the UK, Mexico, Spain, Thailand, and the Philippines, the RBI has over 28,000 restaurants and owns brands such as Burger King, Popeyes, and Firehouse Subs.
RBI Inc. is traded on the New York Stock Exchange and the Toronto Stock Exchange.