Double double in the Philippines
Hortons expanding to Southeast Asia
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.”