The doughnut wars are heating up in India. Less than a week after Dunkin' Donuts debuted in India, Krispy Kreme Doughnut Corporation has announced that it has signed its first development agreement in that country.
Krispy Kreme signed a regional agreement with new franchisee Bedrock Food Company Pvt. Ltd. Under the new agreement, Bedrock Food Company is expected to open 35 stores throughout the next five years. The stores will be located in six states in the North region of India, which includes the cities of Delhi, Jaipur and Lucknow.
"We are excited to partner with Bedrock Food Company in taking the great taste and experience of Krispy Kreme to the people of North India. Manpreet Gulri and his team are leaders in the QSR segment in India. Their strong industry experience and knowledge of the Indian consumer are great assets that they will be able to leverage as they bring the melt-in-your-mouth Krispy Kreme experience to the market," said Jeff Welch, Krispy Kreme president, International.
Purwa Sinha, managing director of Bedrock Food Company Pvt. Ltd., added that the company expects the Krispy Kreme brand to be well received in India, particularly since it is "extremely popular" in Asia.
"Our experience with the Indian consumer shows Indians are very fond of sweets and believe in the concept of sharing. Coffee and doughnuts as a category has huge potential in India and we expect the market to grow quickly over the next few years," Sinha said.
The Krispy Kreme Original Glazed doughnut can now be found in more than 690 stores in 21 countries.
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