On Tuesday, Canadian coffee brewer Tim Hortons said, its Chinese business has received an investment from Chinese tech giant Tencent.

The development comes in the wake of Tim Hortons wanting to expand its footprint in the Chinese market.

In a statement on Chinese messaging platform Weibo, Tim Hortons said it will use the funds to upgrade digital infrastructure and open more stores in China. It aims to expand the number of stores in China from its current 50 to 1,500.

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

Tags: brick-and-mortar, Canada, Canadian, China, Chinese, coffee brewer, digital infrastructure, expand, footprint, investment, market, open stores, stores, Tencent, Tim Hortons, upgrade, Weibo