Jose Cil, chief executive officer of Restaurant Brands International said with three iconic brands, the company has a long runway for growth, locally and globally.
The Canada-based coffee chain, owned by Restaurant Brands International Inc, revealed this week that it will be launching its new menu items in select restaurants across Canada in response to the growing demand from its customers.
"If you ask us, we're still in the early days of this exciting growth journey", he said.More news: Asus Zenfone 6 Innovates With Motorised Flip Camera
Tim Hortons guests will be able to enjoy a Beyond Meat® Breakfast Sandwich, a Beyond Meat® Farmers Breakfast Wrap and a Beyond Meat® Vegan Sandwich.
Nevertheless, Burger King opened its 1,000 restaurant in China in December 2018, some 13 years after it first entered the country.
Last month, the company reported a 0.6 per cent drop in comparable sales at Tim Hortons for the quarter ended March 31, while same-store sales at Burger King grew 2.2 per cent, less than 3.8 per cent a year earlier.More news: Donald Trump announces plan to overhaul legal immigration
Tim Hortons also announced today that it has started to test three Beyond Meat breakfast sandwiches with the potential to roll them out across Canada by the end of summer. The five-year outlook for growth in the global burger market is expected to be 5% annually, with growth in the global coffee and chicken markets expected to be 6% annually, according to the company.
Shares of Beyond Meat (NASDAQ: BYND) jumped 9% on Wednesday, after a popular restaurant chain said it was adding the company's plant-based food to its menu.
Tim Hortons is testing Beyond Meat breakfast options, as vegan meat substitutes sweep the industry. Beyond meat and its rivals such as Impossible Foods have recently ramped up their marketing efforts to promote their various plant-based products.More news: Manchester United to make Paulo Dybala their Galactico signing of the summer
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