Tag: Market expansion

Singapore – After Tim Hortons APAC and multinational conglomerate Marubeni Corporation entered into an expansion partnership back in March this year, popular coffee chain Tim Hortons finally announced its debut in Singapore around November this year, with its first branch opening at VivoCity.

The expansion plays off into a fierce competition to dominate the coffee scene not only in Singapore but also in Southeast Asia. For instance, despite Flash Coffee announcing its exit in Singapore earlier this year, Indonesian coffee startup Kopi Kenangan made its recent debut in Singapore also this year.

Amidst a growing competition in the Singaporean coffee industry, MARKETECH APAC caught up exclusively with Vaibhav Punj, chief executive officer at Tim Hortons and MGCA Café; to learn more about their marketing strategies to flourish in this diverse consumer market.

Respecting the vibrant coffee scene through local offerings

Punj told MARKETECH APAC that knowing Singapore has a vibrant coffee culture, Tim Hortons immediately ‘felt at home’ already, considering that the chain’s 50-year expertise of coffee brewing and responsibly sourced coffee across the world will fit well to the local tastes of the Singaporean consumer.

“We currently have four different signature coffee blends which are expertly crafted by experienced Coffee Masters and roasted carefully in individual batches by Roast Masters who ensure the highest quality and consistency of each Tim Hortons cup. This commitment to quality also extends to our food where all Sourdough Melts, Donuts & Timbits are freshly prepared daily and always served with care,” he stated.

Singapore as a launchpad to expand offerings to SEA

He further added that Singapore presents an exciting opportunity for Tim Hortons’ expansion into Southeast Asia, driven by compelling factors. 

Citing a report by the International Coffee Organization, the surge in global coffee consumption, notably within Southeast Asia, offers a promising avenue for growth. 

“Leveraging Singapore’s esteemed global position, we see it as an ideal launchpad for Tim Hortons’ offerings in the region. Understanding Singaporeans’ deep passion for coffee, seeing it as more than just a drink but a core part of their lifestyle, resonates with our commitment to delivering exceptional coffee experiences beyond the ordinary,” he explained.

What’s next for Tim Hortons in SEA?

Punj notes that aside from its planned expansion to Malaysia and Indonesia next year after regulation processes, Tim Hortons plans to open more outlets in Singapore: NEX in December, Suntec in January 2024 and One Raffles Place in April 2024.

Aside from this, they are also planning to build an innovation pipeline to introduce more iconic favourites including localised flavours into their menu, and many of these inputs have come from their guests who have been an inspiring source of ideas and feedback.

Lastly, they have also launched their app in Singapore which includes a loyalty program that offers exclusive member benefits and rewards as they spend with them. Punj also added that they are working to enable a seamless ordering experience that includes app and web ordering for dine-in, pre-order pickup and delivery.

“Singapore’s strategic location and the local market’s enthusiasm for innovative coffee brands serve as a catalyst for our expansion plans into Malaysia and Indonesia. This strategic alignment combines market appeal, economic viability, and cultural resonance, positioning Tim Hortons for substantial growth within this vibrant Southeast Asian market,” he concluded.

Indonesia – China-based entrepreneurial public relations and marketing services firm Influence Matters has officially expanded its operations in Southeast Asia with the opening of a new Indonesia hub and the appointment of Emily Xu as managing partner.

The firm’s expansion comes as it adapts to its clients’ expanding regional focus for fast-growing economies, including the SEA region.

Influence Matters’s new office in Indonesia will serve as their hub for SEA operations; it will accompany Chinese B2B tech companies planning to enter the country and the region. The new office will also be working on strengthening existing partnerships and building new ones with like-minded agencies in each market in the region.

The PR and marketing firm aims to provide clients seeking evermore effective and impactful PR programmes with an agency that understands their business, technologies, products, and local market dynamics.

It strategically chose Indonesia, a country with the fastest-growing economy in Asia, for cross-border businesses, with a particular focus on IT, fintech, smart industry, and smart logistics.

Meanwhile, as part of its expansion, Influence Matters also named Xu its new managing partner. A consummate corporate communications strategist, she has been working with the firm for over six years in operational and strategic positions.

In her new role, Xu will oversee and develop the agency’s growing cross-border corporate communications business for international companies in China and Chinese companies expanding in Asia.

Simon Vericel, managing director and founder of Influence Matters, said, “Influence Matters’ mission has always been to bring innovators closer together and innovations closer to markets and customers in Asia by delivering influence through storytelling that reaches business leaders and technology adopters.”

He added, “Our PR and digital communication programmes have helped numerous technology innovators find customers, investors, and partners in China; we are proud to now bring our expertise to SEA and connect more innovators together.”

India – Mumbai-based digital business-to-business (B2B) payments company PayMate has announced its expansion into the Asia Pacific region as part of its global growth journey.

With this expansion, PayMate is now launching its operations in Malaysia, Singapore, and Australia to provide digital payment solutions tailored to the specific needs of each market while maintaining a unified global strategy.

Businesses from the aforementioned markets will now also be able to access PayMate’s solutions, which include digitization and automation of financial processes, invoice discounting, and API-as-a-service for financial institutions.

PayMate’s platform offers seamless integration with existing systems and facilitates expedited payments and efficient cash flow analysis, which businesses can now leverage to improve their working capital management.

The B2B payments firm is also looking to explore potential expansion opportunities in other APAC markets, including Vietnam, Thailand, the Philippines, Hong Kong, and New Zealand.

Meanwhile, in Australia and South Africa, PayMate operates under the name “DuNoMo” as a wholly owned subsidiary.

The B2B payments firm now has established subsidiaries in APAC and the Central and Eastern Europe, Middle East, and Africa (CEMEA) regions.

Ajay Adiseshan, founder and CEO at PayMate, said, “We are delighted to introduce PayMate’s innovative B2B payment solutions in Singapore, Malaysia, and Australia. Our rapid expansion into these countries highlights our commitment to enabling frictionless and highly secure B2B transactions for enterprises. We look forward to contributing to the thriving fintech ecosystems in these markets and to collaborating with local partners to drive the digital transformation of B2B payments.”

Amirreza Sawal, general manager for APAC at PayMate, also added, “PayMate is committed to expanding its footprint in the APAC regions, delivering local businesses with the means to elevate supply chain payments, minimise expenses, and optimise working capital. Our versatile APIs offer effortless integration with third-party functionalities, fostering innovation, scalability, and a competitive advantage. These B2B Payments APIs transcend industry boundaries, serving as an adaptable solution across diverse sectors.”

Hong Kong – Chinese catering group Fulum Group Holdings has entered into a strategic cooperation agreement with Sunpark Holdings, an F&B corporation in Japan, to further expand its diversified F&B offerings.

In this new partnership, Fulum Group will introduce multiple of Sunpark’s F&B brands into the Hong Kong food scene. These brands are ‘Takagi Coffee’ that provides specialty coffee and pancakes; ‘Karubi Kazan’ that offers handcrafted barbeque meat rice bowls; and ‘Hachikian’ that specialises in chicken dishes.

The restaurants will be located in the city centre with high foot traffic to attract the younger generation.

With Sunpark already eyeing Hong Kong as its next destination for expansion, its partnership with Fulum will materialise this plan. Meanwhile, Fulum’s cooperation with Sunpark is expected to further diversify the group’s restaurant portfolio.

This strategic agreement is the result of an initiative organised by the Hong Kong Economic and Trade Office (Tokyo) and InvestHK. The Hong Kong F&B Mission aims to business match and network the F&B corporations in Hong Kong and Japan.

Samuel Yeung, CEO of the Fulum Group, said, “Hong Kong people have always favoured Japanese cuisine. Sunpark offers various specialty F&B brands and has decades of experience and insights of the industry, which is what Fulum is trying to achieve with our diversified restaurant mix. We are very excited about this strategic cooperation. Looking forward, we will continue to closely monitor latest trends and hope to introduce more of Sunpark’s brands in hopes of offering even more gourmet options in Hong Kong.

Ken Takagi, CEO of Sunpark, also shared, “Sunpark is committed to bring quality Japanese food at highest level of hospitality from Japan to the world, one store at a time. We are honoured to partner with a strong partner like Fulum Group. This cements our relationship as family.”

Meanwhile, Leo Tze, acting principal Hong Kong economic and trade representative for Tokyo, commented, “Today I am happy to witness the signing of the first deal resulting from this mission, namely this partnership agreement between Sunpark and Fulum. I wish them every success in their business in Hong Kong. I believe this would be the good start and hope to hear more good news amid ongoing partnership discussion of the participant companies.”

Also speaking on the partnership, Alpha Lau, director-general of investment promotion at Invest Hong Kong, said, “When foreign and local players work together, in a strategic partnership like that of Fulum and Sunpark, I believe the synergy will only mean even more opportunities and growth potential for both sides. This partnership is the result of our collaborated programme with colleagues at Tokyo ETO. Going forward, Invest Hong Kong will continue to work with ETOs around the world to assist more Mainland and foreign companies to set up their base in Hong Kong.”

Madrid, Spain – Madrid Turismo by IFEMA Madrid has officially launched its multi-million Euro campaign initiative that promotes Madrid to the Asian tourism market.

The campaign aims to improve Madrid’s positioning as an outstanding and first-class holiday destination, promote it in long-haul inbound markets, and attract high-value tourists, such as those from Asia.

Spearheaded by the Madrid Experts in Tourism Panel, which serves as the advisory board of Madrid Turismo by IFEMA Madrid, the project will be done under a single brand and in collaboration with the tourism industry of Madrid. With the proposed budget reaching a staggering 36 million euros, the campaign will invest in promotional actions for these long-haul inbound markets until December 2024.

A big part of the campaign is the plan for air connectivity. The project has had conversations with over 10 airlines to establish direct links with strategic destinations in Asia. This will increase the frequency of existing connections and result in the signing of an agreement with Iberia for the new Madrid-Doha air connection to provide 44 new connections in Asia Pacific and 26 in the Middle East. 

Also part of the campaign is the rollout of its promotional activities, which, so far, have been implemented in 16 countries considered preferred destinations for high-value outbound tourism. The promotion will span across major B2B and B2C digital marketing campaigns, campaign sites in 11 languages, the development of branded content pieces in major general and economic media, co-marketing actions with paid media and TTOOs, key opinion leaders (KOLs) and influencer marketing campaigns, presentations at the long-haul inbound markets, and the production and generation of content for the #onlyinmadrid campaign.

Additionally, the digital marketing campaigns will include audiovisual and written content adapted to each specific market and incorporated into social media campaigns, Connected TV, Discovery, Paid Search on Google, and digital presence through native and display ads.

As of now, a total of 20 million euros has already been approved for investment in these five top-tier actions. The budget for these campaigns was distributed by markets and geographic areas to ensure the greatest potential for attracting high-impact international tourism, with the USA and Asian markets getting the highest share.

These campaign initiatives will target high-value markets including the USA, Canada, Latin America, Japan, the Republic of Korea, the Middle East, China, and Southeast Asia.

This project, led by Yolanda Perdomo, director for Madrid Turismo by IFEMA Madrid, is expected to strengthen the Madrid brand internationally, increasing the impact of tourism promotion and marketing activities under the criteria of efficiency, quality, and sustainability.

Daniel Martínez, deputy minister of culture, tourism, and sport, stressed that “Madrid Turismo by IFEMA MADRIOD is a benchmark for public-private collaboration in tourism in Madrid and is already delivering important results”. 

“We will continue to promote this project to intensify the promotion and positioning of Madrid as a tourist destination in distant markets such as North America, Asia-Pacific, and the Middle East,” he added.

Also speaking on the campaign, Almudena Maíllo, delegate for tourism at Madrid City Council Tourism, said, “in Madrid we have made a qualitative leap in our strategy for international promotion. With relevant importance and weight, we are seeing that there has been an exponential growth driven, especially by the North American and Latin American markets, thanks to public-private collaboration”.

Juan Arrizabalaga, managing director of IFEMA MADRID, also added, “Madrid Turismo by IFEMA MADRID is not only strategic for Madrid´s positioning as a preferred destination for high-value tourism at an international level, but also for the different actors that make up the tourism industry and are ambassadors of the Madrid brand. Therefore, we are proud to be at the forefront of the management of this ambitious promotional project and to contribute to it from our position as the main player of business tourism in the country”.

Hong Kong – Restaurant group Tam Jai International (TJI) has announced its plans to expand its presence in the Philippines and Australia. 

For the Philippines, it has announced a potential franchise partnership with a subsidiary of the Philippine conglomerate Suyen Corporation. Meanwhile, for its foray into the Australian market, it has announced a joint venture with ST Group Food Industries Holdings Limited.

TJI entered into a memorandum of understanding and heads of terms with BVCUISINE, a subsidiary of the Philippine conglomerate, Suyen Corporation, in relation to the proposed entry into the Philippine market by way of a franchise arrangement. 

This MoU, made in August this year, will grant an exclusive license to BVCUISINE to set up and operate restaurants under the group’s brands in the Philippines.

Meanwhile, a joint venture company which is 49% owned by TJI and 51% owned by ST Group, has been established and the JV company will be granted the master franchise rights to operate restaurants and associated delivery services under one of the Group’s brands in Australia and New Zealand. 

In addition, the joint venture will be able to enter into further sub-franchise agreements with other partners to facilitate the group’s expansion. TJI also retains the right to open and operate self-operated restaurants in the two countries under the TamJai Yunnan Mixian and TamJai SamGor Mixian brands.

Daren Lau, chairman, executive director and chief executive officer at Tam Jai International, said, “Building upon our investment and the development of a strengthened management team over the past year, we are thrilled to embark on an exciting new chapter for TJI with the introduction of a franchising model as we enter the inaugural Western market, Australia, and the Philippines.”

He added, “In particular, our JV partnership with ST Group, an experienced franchised F&B operator in Australia, not only paves the way for a successful and expedited expansion in Australia, but also establishes a strong foundation for future ventures into other Western markets, propelling our mission to bring ‘Tam Jai Taste’ to the world.”

Singapore – Indonesian coffee startup Kopi Kenangan has finally made its debut into the Singaporean market on September 26. The debut branch, located at Raffles City, marks the coffee brand’s foray into the diverse Singaporean market, amidst a growing coffee market in the tiny nation. Since its inception in 2017, Kopi Kenangan has a total of 900 stores in 3 countries, including 67 cities across Indonesia, and more than 20 stores in Kuala Lumpur, Malaysia.

In an exclusive interview with MARKETECH APAC, Kopi Kenangan stated that its Singaporean debut not only marks their continued foray into the the Southeast Asian market but also in response to a thriving local coffee scene in Singapore. 

“It has always been our vision to transcend the conventional perception of Indonesia’s exceptional coffee beans and introduce them to the world as a brand and not just a commodity. Our aspiration is to introduce the world to the unparalleled richness and flavor of Indonesian coffee, and our store opening in Singapore marks another milestone in achieving that vision,” they said.

For the company, the expansion matches well with their vision of of combining local tastes with a global palate, as well as setting it as a vital steppingstone for their expansion in the region and globally.

“In terms of Kenangan Coffee’s SEA expansion, Singapore has always been on our radar due to its unique position as an F&B hub. From a multicultural society to being an international hub, Singapore is an ideal gateway to the global arena and introducing our brand to this market would allow us to reach a wider audience,” they also told MARKETECH APAC.

It is also worth mentioning that prior to Kopi Kenangan’s Singapore expansion, the company first noted local consumer trends in order to tailor their local coffee offerings better for customers, as well as establishing its ‘Kenangan Coffee Training Academy’ in Singapore, offering comprehensive training to their baristas ahead of their inaugural store opening.

Moreover, they have also found that Singaporean consumers are increasingly looking out for more accessible options for coffee, especially given that more international brands are entering the market with a premium price range. 

“The profound love that Singaporeans have for coffee, from kopitiams to contemporary cafés, was also what inspired Kenangan Coffee’s leap into this vibrant market. The city’s robust local coffee scene and its global F&B prominence make our expansion here a pivotal milestone, and we are thrilled to introduce our authentic Indonesian coffee flavors to Singapore,” the company explained.

While Kopi Kenangan firmly believes that there are abundant opportunities in Indonesia, their international expansion has become a necessity as they are confident that their products and business model will be warmly embraced in key markets across the ASEAN region.

“Our brand started in our belief to create accessible and affordable high-quality coffee, and that has been at the heart of all our stores, even as we expand into international markets. We differentiate ourselves from other competitors in this increasingly saturated coffee scene by adhering to strict raw material processing standards, and by deploying the highest-grade, best-in-class coffee equipment such as the Black Eagle Maverick Machine,” they said.

When asked what’s next for the coffee brand, they stated that their marketing strategy across Southeast Asia, including Singapore, would focus on highlighting their unique selling points and value propositions, to allow them to differentiate themselves from their competitors.

“A solid marketing strategy also involves market research and analysis, which helps in understanding customer needs, preferences, and behavior. We believe that this knowledge is crucial for us to meet evolving customer demands – besides conducting the consumer research prior to our entry into Singapore, we also have a propriety mobile application that offers a streamlined, omnichannel customer experience,” they concluded.

Singapore – Advertising agency Meetsocial announced the expansion of its digital marketing solutions expertise in Southeast Asia with the opening of its first international full-service office in Singapore.

Meetsocial’s expansion and new office come as part of the agency’s move to increase investment and personnel to support its current clients who market in Southeast Asia and offer its services to new clients based in the region.

The new Singapore office’s focus will be delivering core competencies such as advanced data analytics, comprehensive social media marketing, efficient search engine optimisation (SEO), and result-oriented content marketing.

Meetsocial will also employ regional talent, adapt products and services to international markets, build strategic partnerships with regional businesses, and tailor pricing and payment options to suit regional conditions.This approach will address the challenges of localization and cultural sensitivities while also enhancing Meetsocial’s competitiveness in the Southeast Asian market and driving its growth.

Additionally, the ad agency will harness its expertise in personalisation, artificial intelligence integration, and multichannel marketing strategies to ensure adaptability and seize new opportunities in the ever-changing digital landscape.

Earlier this year, Meetsocial started assembling its regional team and has established a partnership with Singapore-based digital design company Verz Design to enhance their full-funnel service. The collaboration will enable Meetsocial to engage with clients across the entire spectrum of business needs, particularly when entering new markets.

Commenting on the expansion, Charles Shen, CEO and founder at Meetsocial, said, “Unveiling our international office in Singapore is a significant milestone for Meetsocial. Having achieved considerable success in developing effective digital marketing strategies worldwide, we are excited to bring our expertise to the dynamic Asian market. Singapore’s exceptional infrastructure and business environment will enhance our ability to deliver impactful, trend-responsive campaigns for our clients.”

Singapore – Sports fashion retailer JD Sports has announced that is eyeing the acceleration of its brand in the Asian markets of Malaysia, Singapore, and Thailand. This is despite the retailer has withdrawn their operations in South Korea and closed eight chains in the region.

According to a recent investors relation update from the company, JD Sports has finalised the acquisition of their non-controlling interests in the aforementioned markets.

The company also added that its revenue in Asia-Pacific grew strongly by 22% in the period to £230.9m, and 26% on a constant currency basis. Moreover, organic sales growth was also 26% with all countries in growth including Australia, their principal market in the region.

Meanwhile, their operating profit was up 4% to £32.4m as the closure of our South Korea business progressed as planned. They added that going forward, their Sydney distribution centre (DC) will relocate in 2024 to a new, expanded site to ensure that they have sufficient capacity for the next stage of growth. 

Régis Schultz, chief executive officer of JD Sports Fashion, said, “Looking ahead, our core consumers remain resilient in the face of the ongoing global macro-economic challenges. The JD brand continues to strengthen its global presence, supported by our strategic partnerships with much-loved brands and our strong balance sheet.”

It is worth noting that the parent company has acquired the remaining 20% of the issued share capital in its existing subsidiary in Malaysia, JD Sports Fashion Sdn Bhd, for cash consideration of £35.5m back in August. The group now fully owns the issued share capital of JD Sports Fashion Sdn Bhd and its subsidiaries.

Singapore – Global cross-border payment network Thunes has announced the expansion of its acceptance payment network to Indonesia, Malaysia, the Philippines, Singapore, and Thailand to enable global merchants to accept payments via local payment brands.

The network expansion will enable European and international merchants to receive and settle payments from SEA consumers in their currency of choice.

Thunes’ expansion aims to solve the problem of differences in payment methods, with US and European consumers using credit cards as the main transaction method while SEA consumers use alternative payment systems like mobile wallets, ‘Buy Now, Pay Later’, and ‘Real-Time Payment’ schemes.

With the expanded acceptance network, global businesses can now accept payment from local payment brands in Indonesia (Alfamart, DANA, OVO, QRIS, and ShopeePay), Malaysia (DuitNow, Boost, GrabPay, Maybank QR, ShopeePay, and Touch ’n Go), and the Philippines ( Cebuana Lhuillier, GCash, GrabPay, InstaPay, Maya, PESONet, ShopeePay). 

Furthermore, its acceptance payment network also extends to Singapore (Atome, GrabPay, PayLater by Grab), and Thailand (Bangkok Bank, Bank of Ayudhya – Krungsri, KBank, Krungthai Bank, SCB, PromptPay, Rabbit LINE Pay). 

Andrew Stewart, executive vice president of Account Management and Network at Thunes, said, “While Southeast Asia’s rapid growth offers a remarkable and enticing opportunity, the speed of change in this region can pose a daunting challenge for merchants. In order to keep up with ever-evolving consumer preferences, businesses must be agile and provide a range of local payment options.”

“At Thunes, we’ve hand-picked the most relevant payment brands in Southeast Asia to help merchants in gaming, eCommerce, and marketplace platforms enter new markets and expand their footprint. Through our extensive acceptance network comprising 300 payment methods in 90 countries, businesses can easily tap into the vast digital-first consumer market, creating instant connections with millions of potential clients,” he added.