Krispy Kreme continue their plans of Asia expansion
Krispy Kreme continues to expand in the Asia Pacific with the announcement that it has reached an agreement in principle with existing franchise owner Lotteria Co.
The new agreement would see 60 new Krispy Kreme locations across South Korea over the next five years. The franchise owner also plans to re-modelling of more than half the existing Krispy Kreme locations.
Jeff Welch Krispy Kreme President International said: “It is fantastic when we build on existing business relationships to continue the exciting growth we are experiencing in Asia and around the world. Lotteria knows the Krispy Kreme brand well, and their QSR expertise is unmatched in the market. We expect their success in South Korea will continue as they further expand the Krispy Kreme brand.”
Welch continued: “We now have more than 540 stores in the our 21 international markets. This new development agreement, when executed, would bring franchise owners commitments for new international shops to nearly 425.”