Dou­ble dou­ble in the Philip­pines

Hor­tons ex­pand­ing to South­east Asia

The Hamilton Spectator - - BUSINESS - ALEKSANDRA SA­GAN

Peo­ple crav­ing a jolt of caf­feine in the Philip­pines may soon be able to or­der a dou­ble-dou­ble at their lo­cal Tim Hor­tons.

Restau­rant Brands In­ter­na­tional, the multi­na­tional owner and op­er­a­tor of Tim Hor­tons and Burger King, said Thurs­day it has part­nered with a group of in­vestors to establish a mas­ter fran­chise joint ven­ture com­pany to sell the fast­food chain’s cof­fee and dough­nuts in the South­east Asian coun­try.

RBI chose the Philip­pines for its first stop in South­east Asia be­cause the coun­try has a strong econ­omy and a fast-grow­ing quick-ser­vice mar­ket, said CEO Daniel Schwartz.

The Philip­pines also boasts “a pop­u­la­tion that has an affin­ity for cof­fee and baked goods,” Schwartz added, in­clud­ing those of Tim Hor­tons, the com­pany de­ter­mined af­ter months of mar­ket re­search.

RBI didn’t say how many shops it plans to open in the Philip­pines. But chief fi­nan­cial of­fi­cer Joshua Kobza said, “We aim to be a leader in the mar­ket.”

Kobza hinted Tim Hor­tons would aim to match the level of some of its rivals in the lo­cal mar­ket — many of which boast hun­dreds of restau­rants in the coun­try, he said.

The stores will serve many of the same sta­ples as Cana­dian lo­ca­tions, such as Tim­bits and iced capps, as well as some sur­prises, he added.

“You’ll have a mix of the kind of prod­ucts that we know and love here in Canada and some new prod­ucts.”

But de­tails about any new of­fer­ings likely won’t be di­vulged un­til the first Philip­pines lo­ca­tion opens, which Kobza and Schwartz said will be as soon as pos­si­ble.

RBI views Tim Hor­tons’s ex­pan­sion to the Philip­pines as a gate­way into other mar­kets within the sub­re­gion and other parts of the con­ti­nent, noted Schwartz.

Since Tim Hor­tons and Burger King merged into RBI in late 2014, the com­pany’s been fo­cused on tak­ing the mas­ter fran­chise joint ven­ture model that’s proved suc­cess­ful for Burger King and ap­ply­ing it to help Tim Hor­tons grow the brand glob­ally.

“We think it’s a great op­por­tu­nity,” Schwartz said.


Hor­tons is headed for the Philip­pines which boasts “a pop­u­la­tion that has an affin­ity for cof­fee and baked goods.”

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.