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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 throughout the next five years.
Star360 Group currently operates 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."
Andy Chaw, CEO of Star360 Group, adds that Singaporeans are doughnut lovers and should respond well to Krispy Kreme's Original Glazed offerings, as well as its coffee line.
"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," Chaw said.
Krispy Kreme is approaching the 500-store milestone in international markets. With the Singapore agreement, the company now has commitments for nearly 400 additional international store locations.
Krispy Kreme exists in more than 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 U.S.
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