SHANGHAI, China, Jan. 09, 2024 (GLOBE NEWSWIRE) — TH International Limited (“Tims China” (Nasdaq: THCH)), the exclusive operator of Tim Hortons coffee shops and Popeyes restaurants in China, announces the grand opening of its 10th Popeyes store in Shanghai, marking a significant milestone.
Queues at Popeyes Shanghai restaurant on opening day
In March, Tims China acquired the exclusive rights to operate and franchise Popeyes in mainland China and Macau. Since then, Tims China has repositioned the Popeyes brand for the Chinese market and has sold over 150,000 pieces of its iconic, original American crispy chicken.
Yongchen Lu, CEO of Tims China, said, “We are excited to reach this key milestone in four months. Between our Popeyes and Tim Hortons stores, we now operate 919 stores across China. We have seen a strong demand from our customers for our innovative products from both brands, and we are confident that this demand has a lot of room to grow even further from here.”
Looking ahead, Popeyes is set to expand across China, with plans to open 500 more stores in the next five years and 1,700 stores over the next decade.
ABOUT TH INTERNATIONAL LIMITED
TH International Limited (Nasdaq: THCH) (“Tims China”) is the parent company of the exclusive master franchisees of Tim Hortons coffee shops in mainland China, Hong Kong, and Macau and Popeyes restaurants in mainland China and Macau. Tims China was founded by Cartesian Capital Group and Tim Hortons Restaurants International, a subsidiary of Restaurant Brands International (TSX: QSR) (NYSE: QSR).
The company’s philosophy is rooted in world-class execution and data-driven decision making and centered on true local relevance, continuous innovation, genuine community, and absolute convenience. For more information, please visit www.timhortons.com.cn.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cda9ea37-6d0f-4f03-bca1-5b6b384bb108
