TH International Limited, the sole operator of Tim Hortons coffee shops and Popeyes restaurants in China, recently achieved a significant milestone by inaugurating its 700th coffee shop. This expansion also includes venturing into China’s Northwest region, aligning with the company’s overarching strategy for expansion and growth.
Tims’ ongoing geographical expansion across China is led by its 700th store, which marks a significant milestone as the first one to open in the northwest city of Yinchuan.
“Our development team did an amazing job with our 700th store in Yinchuan. We designed this location to capture the unique culture and contrasts of this special part of China, and we hope both local guests and tourists feel that when they visit us. We look forward to opening more stores in the region as we continue to expand,” shared Yongchen Lu, CEO of Tims China.
As part of Tims China’s disciplined growth strategy, the Yinchuan store is among the many franchised stores being opened in June and July. This expansion plan aims to extend Tims’ geographic reach to surpass 1,000 locations by the end of 2023. By utilizing franchising, Tims can establish stores in desirable locations, collaborate with excellent local partners, and achieve greater capital efficiency.
To fuel its growth, Tims intends to open additional stores in other cities with untapped potential in the coming months. This strategy is reinforced by the impressive monthly same-store sales growth of over 16% recorded from February to May of the current year.
