TH International Limited (NASDAQ: THCH) has made a positive announcement that has boosted its stock price. As a result of the announcement, THCH shares have seen an increase of 5.01%, with the current price per share trading at $3.77 during after-hours trading. The company’s announcement has centered around the expansion of its network, which is seen as a positive development for the company and its investors.
How THCH has been expanding?
China’s exclusive Tim Hortons coffee shop operator, TH International (THCH), opened its 600th outlet recently. Zhongshan, in the Pearl River Delta cluster that includes Shenzhen and Guangzhou, is home to Tims China’s 600th store. Zhongshan is a city of more than three million people that is known for its cuisine and floral beauty. An opening ceremony was held in Zhongshan on January 13 to mark the milestone, welcoming nearly 800 loyal fans, including many who have already joined its loyalty club.
THCH’s gradual expansion
THCH has successfully developed a cluster strategy that enables it to establish store density rapidly, which increases brand awareness, convenience, supply chain efficiency, and profits. Tims China operates in more than 39 towns and cities that have more than one million residents, all centered around Shanghai, Beijing, Chengdu-Chongqing, and the Pearl River Delta.
The coffee industry has been thriving in recent years, and with TH International Limited’s expansion plans, the company is positioning itself for growth and success in the future. This announcement has generated excitement among investors, leading to a rise in the stock price.
THCH is expanding its brands
Also, TH International (THCH) announced a new brand name in Chinese called Tian Hao Coffee. In essence, Tian Hao meaning “good day” symbolizes the spirit and atmosphere of Tims China’s service, which offers great beverages and fresh food to make each guest’s day better. Additionally, THCH is enthusiastic about 2023 as it continues to expand and localize further into China. Through this campaign, THCH will be giving more people around China the chance to experience the Tian Hao experience and sample its products.