Source: Tim Hortons
Tim Hortons, Marubeni partner to tap Southeast Asia’s growing coffee culture
It plans to launch its cafes across Singapore, Malaysia, and Indonesia.
Tim Hortons has partnered with Marubeni Growth Capital Asia (MGCA) to launch its cafes in Singapore as well as Malaysia and Indonesia.
GlobalData estimated coffee and tea shop market across the three countries is valued at $2b.
“Tim Hortons and Marubeni aim to capitalize on the blossoming coffee culture in Southeast Asia, fueled by the rapid urbanization and Westernization,” Bobby Verghese, Consumer Analyst, GlobalData, said.
“Multinational and regional coffee and tea shop chains have proliferated across the top cities in the region, offering students and white-collar workers a convenient spot for business meetings and social gatherings alike.”
Read more: Tim Hortons’ mid-2022 launch in India is ‘well-timed’: GlobalData
The partnership also marks Marubeni’s move to expand in the food service industry.
GlobalData noted this comes as Marubeni aims to leverage its existing retail network in Southeast Asia and the MGCA platform to rapidly scale up Tim Hortons’ café chain in the three countries.
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