According to reports in Chinese local media, Canadian coffee brand Tim Hortons' China company had gained investment from Tencent and it would accelerate market expansion with the new capital.
A representative from Tim Hortons China said that the company planned to use the fund to further expand its digital infrastructure construction, accelerate digital upgrade, and open more stores to meet consumer demands.
Tim Hortons China will actively explore digital innovation and further improve personalized consumption experience for Chinese consumers. The company hopes to open up the boundaries of online and offline marketing and use integrated WeChat ecosystem to rapidly reach target customers, so as to improve the efficiency of precision marketing.
Meanwhile, Tim Hortons China's 80% sales are from members and the company will enhance member operation in the future. It hopes to enhance its understanding of consumers via Tencent's data analysis platform.
Tim Hortons belongs to Restaurant Brands International Inc, which also owns Burger King and Popeyes. Tim Hortons China was jointly established by Restaurant Brands International Inc and Cartesian Capital Group. In February 2019, Tim Hortons China opened its first Chinese store in Shanghai, marking its formal entry into the Chinese market.