Krispy Kreme Awards Franchise Development Rights For Singapore
WINSTON-SALEM, N.C., Oct. 4, 2012 /PRNewswire/ -- Krispy Kreme Doughnut Corporation announced today that it has entered into an agreement with Star360 Group for the development of 15 Krispy Kreme franchise locations in Singapore over the next five years. Star360 Group is considered a premier lifestyle leader in Southeast Asia, operating retail outlets in Singapore, Malaysia, Indonesia, Hong Kong, Philippines, Thailand, Taiwan and Japan.
"This is a very exciting franchise partnership for Krispy Kreme as Star360 is a prominent retail operator in Asia," said Jeff Welch, Krispy Kreme president, international. "Their unique understanding of the Singapore consumer, coupled with their sound business experience across a variety of retail concepts, matches perfectly with the Krispy Kreme brand and experience."
"We are pleased to finally introduce Krispy Kreme, the brand that has won fans the world over, to Singapore," said Andy Chaw, Chief Executive Officer, Star360 Group. "Proud to be the choice partner in bringing this iconic brand to the market, we expect that Krispy Kreme has the potential to take the local doughnut scene by storm, with their world-famous Original Glazed® doughnuts and blend of freshly brewed coffee. Singaporeans have long been doughnut-lovers, and we believe that with more than 75 years of history, Krispy Kreme is well positioned to find its way in the hearts of the consumer."
Welch added, "We are quickly approaching 500 stores in our international markets. This new Singapore agreement, combined with our other recently announced development agreements, means Krispy Kreme now has commitments for almost 400 additional international store locations."
The Krispy Kreme Original Glazed® doughnut can be found in over 700 locations 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 Star360 Group
Star360 Group is the licensed franchisee of Krispy Kreme Doughnut Corporation in Singapore, and is wholly owned and managed by Andy Chaw. The group has a strong focus in retail and distribution businesses operating 30 retail stores and distributing to more than 4,000 points-of-sale in the region. The group represents exclusively more than 15 brands in Asia.
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.
SOURCE Krispy Kreme Doughnut Corporation