Canadian coffee chain Tim Hortons opened its first store in Shanghai on Tuesday [26 February 2019], entering a crowded market with competition from rivals Starbucks, Costa and Chinese startup Luckin Coffee. With more than 4,800 stores in North America, the Philippines and the Middle East, Tim Hortons has big plans for China, aiming to establish some 1,500 stores in the country in the next decade…Full Article: ECNS.cn Feb 2019
- Tim Hortons has partnered with Cartesian, a New York-based private equity firm, to franchise its restaurant chain in mainland China. Cartesian is the master franchisee for Burger King in China (BKChina, ~800 restaurants in China).
- In December 2018, Pret a Manger announced it would be closing its Shanghai stores and exiting the mainland market. The chain planned to remain in Hong Kong where it had 27 stores.
- In July 2018, Canada’s Tim Hortons announced it had formed master franchise joint venture agreement with Cartesian to establish ~1,500 restaurants in China over the next decade.
- In October 2014, Pret a Manger opened its first store in mainland China in Shanghai’s K11 shopping mall.
- In August 2014, Burger King and Tim Hortons announced they would merge.
- In 2012, Cartesian Capital Group (aka Cartesian) partnered with Restaurant Brands International (RBI) and the Kurdoğlu family, a Turkish family that manages TFI TAB Gida Yatirimlari A.S., to develop the Burger King franchise in mainland China.
- In March 2011, Cartesian Capital Group acquired shares (equity investment) in TFI TAB Gida Yatirimlari A.S. (aka TAB Food Investments of TFI).
- In 2002, the UK restaurant chain, Pret a Manger, opened its first store in Hong Kong. In 2001 McDonald’s acquired a 33% stake of the UK chain which it would later divest in 2008.
Hong Kong Trends