SBUX - Starbucks Tim Horton's Among Global Coffee Chains Eyeing Singapore For Expansion Despite Stiff Local Competition | Benzinga
In a bid to accelerate their global growth plans, major coffee chains are flocking to Singapore. The city-state is now seen as a strategic location for these brands to establish their presence and scale their operations.
What Happened: CNBC reported on Tuesday that several global coffee brands have launched new outlets in Singapore in recent months. These include China’s Luckin Coffee, Indonesian chains Kenangan Coffee and Fore Coffee, Canada’s Tim Hortons, and Taiwan’s Louisa Coffee.
These brands view their success in Singapore as a catalyst for their international expansion.
“There’s no better country than Singapore to jumpstart our global expansion plan,” commented Edward Tirtanata, co-founder and CEO of Kopi Kenangan, also known as Kenangan Coffee in Singapore.
Singapore’s reputation as a global financial hub has made it a prime location for these ...