Time Out Group (LSE:TMO) has signed a master franchise agreement with Giunina, a company established by Brazilian hospitality executive Benjamin Ramalho, to develop and operate a Time Out Market in São Paulo, with an opening targeted for the first quarter of 2027.
The global media and hospitality company will earn revenue through franchise fees and ongoing payments under the deal, contributing no capital toward the Market's development, with Giunina responsible for site selection, leasing, culinary curation and operations.
The São Paulo agreement is the second franchise deal Time Out Market has struck, following the launch of its franchise model in India in 2025, where a Delhi location is expected to open later this year.
Time Out Market currently operates in 13 cities and has five further locations in development, including Abu Dhabi and Prague.
"São Paulo is one of the world's great food cities and an exciting next step in Time Out Market's global expansion," said Chris Ohlund, CEO of Time Out Group.
The exact São Paulo site, precise opening date and culinary partners are yet to be announced.
