WINSTON-SALEM, N.C. - Jan. 16, 2013 // PRNewswire // - Krispy Kreme Doughnut Corporation announced today that it will open its first franchise location in India on January 19 in the city of Bangalore. Bangalore is India's 3rd largest city, a cosmopolitan city that is the center of India's growing IT sector and home to many well recognized universities and research institutes.
In June 2012, the Company announced a new partnership with Citymax Hotels Pvt. Ltd. for the development of 80 franchise Krispy Kreme retail locations over 5 years in 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.
"Our new partnership with Citymax Hotels Pvt. Ltd. represents the extraordinary growth opportunity we believe exists for the Krispy Kreme brand in India," said Jeff Welch, Krispy Kreme president, international. "Working with Citymax Hotels, we are delighted to introduce the Indian consumer to the Krispy Kreme experience, including our one-of-a-kind Doughnut Theatre."
"We are excited to introduce the world famous Krispy Kreme experience and hot Original Glazed® doughnut to India. Apart from presenting its most popular and freshly prepared recipes from across the world, Citymax Hotels and Krispy Kreme will work together to make some local adaptations to suit the Indian palate as the brand reaches out to a wide consumer base," said Mr.Vishal Sawhney, President – Citymax Hospitality, India.
The Krispy Kreme Original Glazed® doughnut can be found in over 730 locations in 22 countries, including Australia, Bahrain, Canada, China, Dominican Republic, India, 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.
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 and Max chain of retail stores in India. Bringing customers a variety of choices, Citymax Hotels Pvt. Ltd. operates food and beverage entities and the largest enterntainment centers across the country. To learn more, visit www.citymaxindia.com.
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