Tims China Announces Partnership with Alibaba’s Freshippo

Rhea-AI Summary

Tims China has entered a two-year partnership with Freshippo, Alibaba Group's omnichannel retail chain, to launch co-branded coffee products. The initial offerings, Velvet Cocoa Coffee and Chestnut Latte, will be available in December 2022 through Freshippo's online app and its more than 300 physical stores across 27 Chinese cities. This collaboration aims to leverage both companies' strengths in product design, promotion, and pricing, providing consumers with enhanced coffee experiences.

Positive

• Collaboration with Freshippo could enhance brand visibility and market reach.
• Co-branded products may attract a broader customer base and increase sales.

Negative

• Dependence on the success of new product introduction in a competitive market.
• Potential risk if the partnership does not yield expected consumer interest.

Tims China and Freshippo, Alibaba Group’s omnichannel retail chain, are collaborating to introduce co-branded coffee products

SHANGHAI, China, Nov. 17, 2022 (GLOBE NEWSWIRE) -- TH International Limited, the exclusive operator of Tim Hortons coffee shops in China (Nasdaq: THCH) (“Tims China”), today announced a two-year partnership with Freshippo, Alibaba Group’s (NYSE: BABA) omnichannel retail chain for groceries and fresh goods. The partners will introduce co-branded coffee products for sale exclusively through Freshippo’s online channels and physical stores.

The initial co-branded coffee products, Velvet Cocoa Coffee and Chestnut Latte, will be available for sale in December. Freshippo will sell these products online through its official app and also offline through its over 300 brick-and-mortar stores located in 27 cities across China. Tims China and Freshippo will work together on research and development of the co-branded products, collaborating on product design, positioning, promotion, and pricing.

Tims and Freshippo Co-branded Products: Velvet Cocoa Coffee and Chestnut Latte

Freshippo Store

Yongchen Lu, CEO of Tims China, said, “We are delighted to embark upon a two-year partnership with Freshippo, Alibaba’s technology-driven ‘new retail’ supermarket. Our co-branded products will provide Tims’ excellent coffee products with the convenience of Freshippo’s multiple channels to reach millions of consumers across China.”

Jiayu Zhao, Chief Merchandising Officer (CMO) of Freshippo said, “Freshippo is committed to providing a one-stop grocery shopping experience for consumers in pursuit of living a fresher life. Our collaboration with Tims China will broaden the choices we offer consumers through providing more coffee products with new experiences and flavors.”

About TH International Limited

TH International Limited (Nasdaq: THCH) (“Tims China”) is the parent company of the exclusive master franchisee of Tim Hortons coffee shops in China, including Hong Kong and Macau. TH International Limited was founded by Cartesian Capital Group and Tim Hortons Restaurants International, a subsidiary of Restaurant Brands International (TSX: QSR) (NYSE: QSR).

Tims China offers freshly brewed coffee, tea and other beverages, bakery & sides, and sandwiches and is an emerging coffee champion in China. The brand'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.

About Freshippo

Launched in 2015, Freshippo is Alibaba Group’s (NYSE: BABA) proprietary retail chain for groceries and fresh goods. Freshippo operates three different types of stores: “Freshippo Store”, “Freshippo X Member Store”, and “Freshippo Outlet”. It exemplifies the creation of a new shopping experience through the convergence of online and offline activities by using retail stores not just to sell to consumers, but also to fulfill online orders, in addition to offering a rich and fun experience to customers who shop in-store. Freshippo’s proprietary fulfillment system enables 30-minute delivery to customers. As of today, there are over 300 Freshippo stores in 27 cities, primarily located in tier-one and tier-two cities in China.

Contacts

Public Relations
ICR, LLC
TimsChinaPR@icrinc.com

Follow @TimHortonsChina

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/71e9ac8c-5af3-4ea6-b6ea-6930ab454c60
https://www.globenewswire.com/NewsRoom/AttachmentNg/c5d19d28-c00f-425d-9b1e-aa10f26b0a31

FAQ

What new products are Tims China and Freshippo launching?

They are launching co-branded products, Velvet Cocoa Coffee and Chestnut Latte.

When will the co-branded coffee products be available?

The products will be available for sale starting in December 2022.

Where can I buy Tims China and Freshippo's co-branded coffee?

You can purchase them through Freshippo's online app and its physical stores in China.

What is the aim of the Tims China and Freshippo partnership?

The partnership aims to combine strengths in product design, promotion, and pricing to reach millions of consumers.

How many Freshippo stores are there in China?

There are over 300 Freshippo stores located in 27 cities across China.