Popular US doughnut chain, Krispy Kreme is scheduled to debut in India by the end of this year. The retailer of doughnuts and beverages has entered into a franchise agreement with Citymax Hotels, the hospitality division of Dubai based retail group, Landmark.
Citymax will be developing 80 retail stores of Krispy Kreme in the Southern and Western parts of the country over the next five years, with the first one slated to open in the city of Bangalore by the year end.
On the partnership, Renuka Jagtiani, Vice Chairperson, Landmark Group said that being one of the fastest growing economies, India presents a great growth opportunity for brands like Krispy Kreme. â€œWe believe in being at the forefront of presenting new and relevant concepts to India. We are therefore delighted to introduce Indian consumers to Krispy Kreme Doughnuts and also add them as part of our portfolio. Our strong distribution footprint and understanding of consumer dining habits, combined with the unique strengths of the Krispy Kreme brand, will help us popularise Krispy Kreme doughnuts among customers,â€ she added.
Seen as the indulgence of a select few, doughnuts are fast becoming a popular snack for Indians to satiate their sweet tooth. Earlier this year also saw another international doughnut chain; Dunkin Donuts set foot in it with aggressive expansion plans.
Krispy Kreme will have a â€˜Doughnut Theatreâ€™ in its first store down South for customers to watch the entire doughnut making process. To enhance customer base and connect, Cinemax and the doughnut chain are also planning to localise some of the offerings to suit the Indian palate.
Peter King, Vice President, International Development, Krispy Kreme Corporation said, â€œWe have found a strong local partner in Citymax who share our passion and commitment in serving the highest quality products and providing excellent customer service. We are excited to work with the Landmark Group as the companyâ€™s values and commitments mirror that of Krispy Kreme. We believe that their unique and sound understanding of the Indian consumer, combined with their years of successful business experience across a variety of premium concepts, is a strong asset for them as they establish the Krispy Kreme brand in South and West India. We look forward to supporting them as they present the highest quality of Krispy Kreme Doughnuts to all consumers in India.â€