Canadian coffee brand Tim Hortons recently opened its 100th Chinese store in Shanghai on October 15, 2020.
According to official information, since its first store launched in the Chinese market in 2019, Tim Hortons has deployed in first- and second-tier cities such as Shanghai, Beijing, Zhengzhou, Dalian, Hangzhou and Chongqing.
On February 26, 2019, the Canadian coffee and donut chain brand Tim Hortons officially opened its first Chinese store in Shanghai. At that time, it was the brand's 4850th store in the world.
On May 13, 2020, Tim Hortons received investment from Tencent with a capital scale of several hundred million yuan. Tencent will have "certain shares" in the brand's Chinese operations, and the two parties will work together to explore the huge potential of the Chinese coffee market.
In 2019, the brand said it plans to open 1,500 stores in China in the next ten years. After the investment of Tencent, Tim Hortons accelerated its expansion.
China is also the second largest market for Starbucks. Affected by COVID-19, Starbucks temporarily closed 2,000 stores at the beginning of this year, and currently more than 95% of those stores have resumed operations.