Krispy Kreme Awards Franchise Development Rights for the South and West Regions of India
WINSTON-SALEM, N.C., June 13, 2012 // PRNewswire // -- Krispy Kreme Doughnut Corporation announced today that it has entered into an agreement with Citymax Hotels Pvt. Ltd. for the development of 80 franchise Krispy Kreme retail shops in the next 5 years across the South and West regions of India. Citymax Hotels Pvt. Ltd. is part of the Dubai-based Landmark Group, one of the largest and most respected retailers in India and the Middle East.
"With Citymax Hotels Pvt. Ltd., we have found a franchise partner with a true passion for the Krispy Kreme brand and our world famous products," said Jeff Welch, Krispy Kreme president, international. "We believe that their unique and sound understanding of the Indian consumer, combined with their years of successful business experience across a variety of retail concepts, is a strong asset for them as they establish the Krispy Kreme brand in the South and West regions of India."
"We are excited and pleased to introduce Indian consumers to Krispy Kreme – the brand that pioneers a one-of-a-kind experience in premium-quality doughnuts and coffee," said Mr. Vishal Sawhney, President of Citymax Hotels Pvt. Ltd. "The addition of Krispy Kreme to our current portfolio of brands allows us to give customers even more choice and variety. Our strong existing footprint and understanding of consumer dining habits, combined with the unique strengths of the Krispy Kreme brand, will help us to popularize Krispy Kreme doughnuts among India's brand savvy customers."
The Krispy Kreme Original Glazed® doughnut can be found in over 690 stores in 21 countries, including Australia, Bahrain, Canada, China, Dominican Republic, Indonesia, Japan, Kuwait, Lebanon, Malaysia, Mexico, the Philippines, Puerto Rico, the Republic of Korea, Qatar, the Kingdom of Saudi Arabia, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States.
About Citymax Hotels Pvt. Ltd.
Citymax Hotels Pvt. Ltd. is a licensed franchisee of Krispy Kreme Doughnut Corporation for the South and West regions of India. Citymax Hotels Pvt. Ltd. is part of the Dubai-based retail giant Landmark Group, one of the largest and most respected retailers in India and the Middle East. The group is well known for its Lifestyle chain of retail stores in India. Bringing customers a variety of choices, Citymax Hotels Pvt. Ltd. operates food and beverage entities and the largest entertainment centres across the country.
About Krispy Kreme
Krispy Kreme (NYSE: KKD) is a leading branded specialty retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed® doughnut. Headquartered in Winston-Salem, NC, the Company has offered the highest quality doughnuts and great tasting coffee since it was founded in 1937. Connect with Krispy Kreme at krispykreme.com and on Facebook, Foursquare, Twitter and YouTube.
Information contained in this press release, other than historical information, should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's beliefs, assumptions and expectations of our future economic performance, considering the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause our actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition we express or imply in any forward-looking statements. The words "believe," "may," "could," "will," "should," "would," "anticipate," "estimate," "expect," "intend," "objective," "seek," "strive" or similar words, or the negative of these words, identify forward-looking statements. Factors that could contribute to these differences include, but are not limited to: the quality of Company and franchise store operations; our ability, and our dependence on the ability of our franchisees, to execute on our and their business plans; our relationships with our franchisees; our ability to implement our international growth strategy; our ability to implement our new domestic small shop operating model; political, economic, currency and other risks associated with our international operations; the price and availability of raw materials needed to produce doughnut mixes and other ingredients, and the price of motor fuel; our relationships with wholesale customers; our ability to protect our trademarks and trade secrets; changes in customer preferences and perceptions; risks associated with competition; risks related to the food service industry, including food safety and protection of personal information; compliance with government regulations relating to food products and franchising; and increased costs or other effects of new government regulations relating to healthcare benefits. These and other risks and uncertainties, which are described in more detail in the Company's most recent Annual Report on Form 10-K and other reports and statements filed with the United States Securities and Exchange Commission, are difficult to predict, involve uncertainties that may materially affect actual results and may be beyond the Company's control, and could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements. New factors emerge from time to time, and it is not possible for management to predict all such factors or to assess the impact of each such factor on the Company. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
SOURCE Krispy Kreme Doughnut Corporation
Brian K. Little