Tims China will relaunch the fried-chicken chain Popeyes in China, as food and beverage franchises snap up retail space to capture an anticipated post-lockdown consumption rebound, reports the Financial Times.
The Chinese operator of Canadian coffee chain Tim Hortons announced a partnership with Miami-headquartered Popeyes on Wednesday, with the aim of opening 1,700 outlets in China in the next decade. Popeyes first attempted to crack the Chinese market in 2020 but retreated last year during the pandemic.
“Every market has seen a post-Covid sustained surge in economic activity. We believe that the same will happen in China in the coming quarters,” said Peter Yu, managing partner of Cartesian Capital, a private equity group that is the majority shareholder of Tims China.