Overview

• Major coffee chains including Tim Hortons, Luckin Coffee, Fore Coffee, Kenangan Coffee, and Louisa Coffee have recently opened outlets in Singapore, viewing the city-state as a strategic location for international expansion.
• Despite the heavy presence of brands like Starbucks and Dunkin' Donuts, these chains see potential in the Singapore market, which is expected to grow 5% to nearly $1.3 billion by 2027.
• Singapore's reputation as a global financial hub is attracting these coffee brands, as they believe a successful entry into Singapore could propel their brand further as they expand to more countries.
• However, these chains are set to face stiff competition from local coffee shops, which offer coffee at highly competitive prices.
• Despite the competition, these brands are optimistic about their expansion plans, with Kopi Kenangan's CEO stating that Singapore and Malaysia are just a stepping stone for their international expansion.