India's First International News Journal

India's First International News Journal

Monday, October, 3, 2022

Press Release

Iconic Global Coffee Brand Tim Hortons® Set to Enter India in 2022
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                            Mumbai, Maharashtra, India:
                         Tim Hortons®, an iconic coffee brand established in 1964 in Canada, will enter India as part of an exclusive agreement with AG Café, a joint venture entity owned by Apparel Group, a global fashion and lifestyle retail conglomerate and Gateway Partners, an emerging markets alternative investment manager.Popular for its freshly prepared iconic beverages like the smooth and creamy 'French Vanilla' and its creamy blended frozen coffee, the 'Iced Capp®' along with made-to-order food and baked goods offerings, like the delicious bite-sized morsels of traditional donuts called 'Timbits®’, Tim Hortons will open in New Delhi this year, quickly followed by Punjab and other parts of the country. With over 50 years of coffee expertise, the brand has captured the hearts and taste buds of many.

India is one of the world’s fastest-growing markets for speciality coffee retail chains. The growth can be attributed to the changing lifestyle of the young population, rising disposable income, and a keenness to explore global experiences. With this launch, India will become the brand’s fourth country in the Asia Pacific region and plans to open over two hundred and fifty outlets over the next five years.

“We are thrilled to be bringing Tim Hortons to India, with Apparel Group and Gateway Partners. India is known for taking its beverages and food very seriously,” said David Shear, President, RBI International, parent company of Tim Hortons. “The delicious premium quality coffee and fresh food that guests around the world have grown to crave from Tim Hortons will be coming to India, marking this launch as a critical step in our international expansion plans.”

Tim Hortons India will be led by Navin Gurnaney, an experienced and reputed professional who will serve as the company’s India CEO. He was previously the CEO for Starbucks India. Speaking on the announcement, Navin Gurnaney said, “We are very happy to bring Tim Hortons, a global café brand, to our guests in India. The launch will lead to major investments in market-leading talent and innovation, creating new jobs and providing a direct boost to the hospitality sector. We are excited ahead of this launch and we look forward to bringing the best of the café experience to Indians.”

Speaking on the announcement, Nilesh Ved, Chairman & CEO, Apparel Group said, “The food and beverage sector is seeing a revival after a long period of covid-induced lull, and we see this as the most opportune time to introduce a new brand and have an aggressive plan to cater to the demand. As a global company with proven capabilities worldwide, we are happy to bring the Tim Hortons experience to India.”

V. Shankar, Co-founder and Chief Executive Officer of Gateway Partners, said, “This exciting new venture builds on our existing strong partnership with Apparel Group, and the India venture has the promise and the potential to be a true “game-changer”. It is also aligned with Gateway’s approach of investing in well-established market leaders who cater to core consumption needs. I cannot wait to have a cup of Tim Hortons coffee when we open in New Delhi.”

Tim Hortons is Canada’s largest restaurant chain operating in the café industry, and international expansion has become an increasing priority for the brand. Over recent years the brand has introduced its well-loved offerings to guests beyond Canada and the United States. Currently, Tim Hortons has over 5,100 restaurants across 13 countries and growing, including the Middle East, China, the UK, Mexico, Spain, Thailand and Philippines.

About Tim Hortons®

Tim Hortons® is one of North America’s largest coffee/tea/donut restaurant chains. In 1964, the first Tim Hortons® restaurant in Hamilton, Ontario opened its doors and Canadians and guests around the world have been ordering Tim Hortons iconic Original Blend coffee, Double-Double™ coffees, Donuts and Timbits® in the years since. Over the last 55 years, Tim Hortons has captured the hearts and taste buds of Canadians and guests around the world and has become synonymous with serving Canada’s favourite coffee. More than a coffee and bake shop, Tim Hortons is part of the Canadian fabric and guests can enjoy hot and cold specialty beverages – including lattes, cappuccinos and espressos, teas, and our famous Iced Capps® – alongside delicious breakfast, sandwiches, wraps, soups and more. Tim Hortons has more than 5,100 restaurants around the world. For more information on Tim Hortons visit TimHortons.com

About Restaurant Brands International Inc.

Restaurant Brands International Inc. (“RBI”) is one of the world’s largest quick-service restaurant companies with more than $35 billion in annual system-wide sales and over 28,000 restaurants in more than 100 countries. RBI owns four of the world’s most prominent and iconic quick-service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES® and FIREHOUSE SUBS®. These independently operated brands have been serving their respective guests, franchisees, and communities for decades. Through its Restaurant Brands for Good framework, RBI is improving sustainable outcomes related to its food, the planet, and people and communities.

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About Apparel Group LLC

Apparel Group is a global fashion and lifestyle retail conglomerate residing at the crossroads of the modern economy – Dubai, United Arab Emirates. Today, the Apparel Group caters to thousands of eager shoppers through its more than 1750+ stores and 75+ brands across all platforms employing 16,500 multicultural staff covering four continents.

Apparel group has carved its strong presence not only in the UAE, Kuwait, Bahrain, Oman, and Saudi Arabia but opened thriving gateways to market in India, South Africa, Singapore, Indonesia, Thailand and Malaysia. Additionally, clear strategies are in place to enter emerging markets such as Hungary, Pakistan, Egypt and Philippines.

Apparel Group Operates Brands from around the world, originating from USA, Canada, Europe, Australia, Asia and include leading names in Fashion, Footwear & Lifestyle such as Tommy Hilfiger, Charles & Keith, Skechers, Aldo, Nine West, Aeropostale, Jamie’s Italian to name a few and other key brands include Tim Hortons, Cold Stone Creamery, Inglot, Rituals etc.

The Apparel Group owes its amazing growth to the vision and guidance of its dynamic Founder & Chairwoman, Sima Ved who has taken the company from strength to strength since its inception in the last two decades. www.appareluae.com

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About Gateway Partners

Gateway Partners is an emerging markets alternative investment manager established in 2014 to connect private capital to attractive investment opportunities across South and Southeast Asia, Middle East and Africa, with fund management and advisory operations in both Dubai and Singapore which are dual registered and regulated by the Dubai Financial Supervision Authority (DFSA) and the Monetary Authority of Singapore (MAS).

Gateway’s portfolio companies operate in over 30 countries and collectively generate over $13 billion in revenues while employing close to 250,000 men and women. Gateway’s first private equity fund, Gateway Fund I, L.P., closed in September 2016 with commitments of US$ 757.5m. Gateway launched its second fund, Gateway Fund II, L.P. in February 2021 which intends to target growth and strategic opportunities in proven companies and presents a one-stop solution to investing across exciting growth markets that are long on opportunities and short on capital.

A UN PRI Signatory, Gateway is committed to being a responsible investor. www.gatewayfund.net

Forward-Looking Statements

This press release contains certain forward-looking statements and information, which reflect management’s current beliefs and expectations regarding future events, initiatives and operating performance and speak only as of the date hereof. These forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. These forward-looking statements include, without limitation, statements about our expectations regarding the ability of the Tim Hortons business in India to open more than 300 restaurants in the next ten years and a flagship in New Delhi in 2022. The factors that could cause actual results to differ materially from RBI’s expectations are detailed in filings of RBI with the U.S. Securities and Exchange Commission and with the securities regulatory authorities in Canada, such as its annual and quarterly reports and current reports on Form 8-K and include the following risks: risk related to our ability to successfully implement its domestic and international growth strategy and risks related to its international operations; risks related to our ability to compete domestically and internationally in an intensely competitive industry; global economic or other business conditions that may affect the desire or ability of our customers to purchase our products; our relationship with, and the success of, our franchisees and risks related to our fully franchised business model; and the effectiveness of our marketing and advertising programs and franchisee support of these programs. Other than as required under applicable laws, we do not assume a duty to update these forward-looking statements, whether because of new information, subsequent events or circumstances, change in expectations or otherwise.
 

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