Coffee chains are crowding Singapore in hopes of jump-starting their global expansions
Publishing timestamp: 2023-12-26 06:46:50
Summary
More coffee chains are expanding in Singapore, attracted by its status as a global financial hub. Despite the crowded market, brands like Luckin Coffee, Kenangan Coffee, Tim Hortons, Fore Coffee, and Louisa Coffee have recently opened outlets in Singapore. These chains see Singapore as a stepping stone for international expansion. Singapore's prominence as a financial center and its high coffee consumption rate make it an attractive market for these brands. However, local competition and the higher prices of international chains pose challenges. Singapore's favorable business environment also contributes to its appeal for coffee chains.
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Keywords: starbucks corp, food and drink, luckin coffee inc, business news, business, asia economy,