Canada’s Tim Hortons to launch in Panama in 2024

 IMPERIALISM THE HIGHEST STAGE OF CAPITALI$M

The Ontario-based coffee chain will make its Central American debut in Panama later this year and has outlined plans to open 30 stores by 2034

Ontario-based Tim Hortons currently operates more than 5,700 stores across 17 markets globally | Photo credit: Erik Mclean

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Canadian coffee chain Tim Hortons will enter Panama this year and plans to open 30 stores in the central American country within the next 10 years. 
 

Parent company Restaurant Brands International (RBI) said the first store in partnership with Vortex Investment SA will open in the coming months, with outlet growth focused on Panama City. 

“We look forward to bringing Tim Hortons renowned quality coffee in Panama and to introduce our delicious food and our welcoming Tim Hortons experience to guests later this year,” said Renato Rossi, Regional President, Latin America and the Caribbean, RBI. 

The move will mark Tim Hortons’ debut in Central America and adds to its growing presence in the US and Mexico, where it currently operates 630 and 89 stores respectively. 

The Ontario-based coffee chain currently operates more than 5,700 stores across 17 markets globally, having entered Pakistan, Singapore and South Korea in 2023. 
 

Panama’s branded coffee shop market is led by 24-store Kotowa Coffee House. However, international brands Starbucks and The Coffee Bean & Tea Leaf also have a modest presence, opening 16 and 10 outlets since their respective debuts in 2015. 

Tim Hortons to expand South Korea presence with two new Seoul stores

The Canadian coffee chain made its South Korea debut in December 2023 and says two existing sites in Seoul are its strongest performing across east Asia

Tim Hortons sold over 100,000 cups of coffee at its first two Seoul sites in the last month | Photo credit: Tim Hortons

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Tim Hortons will add two new outlets in Seoul this month amid strong consumer demand for the brand across the South Korean capital. 
 

The Canadian coffee chain entered South Korea in December 2023 with two stores in Seoul’s Sinnonhyeon and Seolleung districts. Tim Hortons sold over 100,000 cups of coffee and 300,000 donuts at the sites over the last month – marking a stronger performance than comparable sites in China, Thailand, the Philippines and Singapore, according to a spokesperson.  

Tim Hortons will open its third and fourth sites at Sungnyemun Grand Central and Seoul National University Station on 30 and 31 January respectively. The brand is seeking to open 150 outlets in South Korea within five years.    

With more than 31,100 stores, South Korea is the second largest branded coffee shop market by outlets in east Asia, behind China which has nearly 50,000. 

Alongside Tim Hortons, Germany’s The Barn, France’s Terres De Café and China’s Cotti Coffee also opened their first stores in South Korea last year.  

World Coffee Portal research forecasts the total South Korean branded coffee shop market will surpass 41,700 outlets by the end of 2028.