Krispy Kreme Goes To China

JournalNow.com:

Krispy Kreme Doughnuts Inc. has decided that it’s time to take on the world’s largest customer base.

The company said yesterday that it will open 35 stores in China by the end of 2013 in the metropolitan areas of Beijing, Shanghai and Tianjin.

There are more than 47 million residents in those three cities alone, along with an overall Chinese population of more than 1.3 billion.

Krispy Kreme is entering China through a partnership with KKD Lotte Holdings Co. Ltd., who has been the company’s franchisee in Japan and South Korea since 2004. Terms of the deal were not disclosed.

The franchise agreement could be the largest international deal yet for Krispy Kreme, which has at least 169 satellite and 91 factory stores overseas in 16 countries, according to a recent regulatory filing.

Logo from Krispy Kreme Doughnuts.

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