Krispy Kreme to Open 10 Shops in Myanmar
Iconic brand to be one of the first western brands to open its doors in the historic nation.
WINSTON-SALEM, N.C. - August 25, 2015 - (BUSINESS WIRE) - Krispy Kreme (NYSE:KKD) today announced it has signed a development agreement with Doughnut Group Pte. Limited, to open 10 Krispy Kreme shops in Myanmar over the next five years.
Krispy Kreme is one of only a small number of western restaurant brands that have announced intentions to open in Myanmar. Dan Beem, Krispy Kreme’s Senior Vice President and President – International, said with a growing economy and a population eager to welcome global brands, the time is right for Krispy Kreme to bring its sweet treats to Myanmar.
“We see a lot of potential for Krispy Kreme in Myanmar, and we are pleased that Doughnut Group Pte. Limited is planning to deliver to the people of Myanmar the iconic Krispy Kreme experience that we are known for around the world, including our Original Glazed® doughnut,” said Beem.
Pote Narittakurn, owner of the Singapore-based Doughnut Group Pte. Limited, said with the recent evolution of Myanmar, which recently opened to foreign investment and development, this is an opportune time for Krispy Kreme to be one of the first western brands in the country.
“Myanmar is an up-and-coming market with a large population of people who are eager to start getting a taste of iconic brands like Krispy Kreme,” said Narittakurn. “We’re confident the Krispy Kreme experience will be as meaningful in Myanmar as it is in Memphis or Manila, or anywhere else around the world where our signature sweet treats and coffee are served.”
About Krispy Kreme
Krispy Kreme is a global retailer of premium-quality sweet treats, including its signature Original Glazed® doughnut. Headquartered in Winston-Salem, N.C., the Company has offered the highest-quality doughnuts and great-tasting coffee since it was founded in 1937. Krispy Kreme is proud of its Fundraising program, which for decades has helped non-profit organizations raise millions of dollars in needed funds. Krispy Kreme has more than 1,000 retail shops in 24 countries. Connect with Krispy Kreme at www.KrispyKreme.com, or on one its many social media channels, including www.Facebook.com/KrispyKreme, and www.Twitter.com/KrispyKreme.
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,” “forecast,” “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 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; increased costs or other effects of new government regulations relating to healthcare benefits; and risks associated with implementation of new technology platforms.
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SOURCE Krispy Kreme
Sr. Director, Communications