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It has been more than a month since the Chinese business of Canadian coffee chain Tim Hortons went public on the Nasdaq, but so far, the coffee company that is trying to become the second Starbucks has not performed well in the US stock market.
Canadian coffee chain Tim Hortons officially announced on January 9 the new name of its Chinese brand – "Tianhao Coffee" – in Shanghai. It indicates another important market strategy of its local division since listing on the Nasdaq.
Canadian coffee chain Tim Hortons has recently made further progress in plans to list its Chinese business division in the US. Silver Crest, a special purpose acquisition company, will hold a general meeting regarding the merging matter on August 18.
The Chinese business division of Canadian coffee chain Tim Hortons will officially commence trading on the Nasdaq on September 29. Proceeds from the listing will be used to expand its coffee business in China.
Tim Hortons China announced its opening of another joint store with Tencent E-Sports in Shanghai on August 3. This is the second joint store opened by the pair in Shanghai and the third joint store opened in China.
On February 9, TH International, the exclusive operator of Tim Hortons coffee shops in China (Tims China) announced that its board of directors had approved an agreement to develop Popeyes, the fried chicken chain, in mainland China and Macau.