Tim Hortons is planning to spend approx Rs 2 billion by August 2025 to aid the expansion plans, Tarun Jain, CEO, Tim Hortons told ETRetail in an interaction.
At present, the brand has 16 stores spread across Delhi NCR, Mumbai and Punjab and it plans to take the store count to 120 by August 2025.
“The average investment per store varies around Rs 2 crore,” he said.
Recently, the coffee-chain has forayed into Mumbai and has opened two stores in the city.
“Going ahead, we are planning to enter new markets like Pune, Bengaluru and Gujarat this year. We will also be opening stores in the existing cities like a store in Patiala will be opening soon and one store is coming up at Delhi airport,” he said.
The brand will stick to the average store size of 1,200-1,400 sq ft for its upcoming stores as well.
“As we enter the new cities, our strategy to open stores across malls and high streets remains the same. Once we enter any city, our strategy is to profile the entire geography,” he stated.
“Our target for the first year was to open 18-20 stores in India and we are expecting to exceed our target by opening 20 stores by August-end,” he added.
As the trend of people investing time in cafes and the number of transactions are going up, the brand is expecting that it will help in growing the market going ahead.