Canada’s popular coffee chain Tim Hortons can enter India by June-July 2022. Hortons officials gave this information today. In India, Tim Hortons will compete with companies like Starbucks, Costa Coffee and Café Coffee Day.
Tim Hortons is looking for a prime location in Delhi to launch its flagship store in India. Tim Hortons India CEO Navin Gurnaney said that we plan to open 120 stores across the country in the next 3 years. After that in 5 years we will open 250 to 300 new stores. After Delhi, the company will open other stores in Chandigarh and then Punjab, and after that the company will focus on western India.
Gurnane further added that we already have a good brand recognition in Northern India especially in Punjab. A large number of Punjabi people live in Canada. Keeping this in mind, we are starting our journey from Delhi and Punjab. The company plans to open its stores in Mumbai and other cities in western India in 2023.
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Currently Tim Hortons operates its stores in 5,100 locations around the world. After launching in India, the company will reach the fourth country in the Asia-Special region.
Gurnane says that this decision has been taken keeping in mind the increasing consumption of coffee in India. It is expected that the coffee market in India will be $ 4.2 billion in the next two years. At present, it is seeing a growth rate of 8-9 per cent on an annual basis.
About 20 per cent of coffee consumption in India is related to out-of-home consumption. In view of this, there is a huge potential for the success of the coffee chain in the country. Apart from coffee, we will also find some other food and drink at Tim Hortons outlets. Gurunani told that Tim Hortons’ menu will include coffee as well as many global food items. Those who will be given Indian touch.
Gurnane also revealed that Tim Hortons will spend Rs 3.5 crore to Rs 7.5 crore on setting up a store in India.
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