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Known for putting a smile on people's faces since 1937, the world's premium quality sweet treats brand is all set to entice the Indian consumer. In an interview with Namita Bhagat, Jeffrey B. Welch, President, International Krispy Kreme Doughnuts Inc., ta
Known for putting a smile on people's faces since 1937, the world's premium quality sweet treats brand is all set to entice the Indian consumer. In an interview with Namita Bhagat, Jeffrey B. Welch, President, International Krispy Kreme Doughnuts Inc., talks about the brand's foray into India.
Brief us on the inception and growth of Krispy Kreme. How has the brand's journey been so far?
Headquartered in Winston-Salem, North Carolina, Krispy Kreme is a leading branded specialty retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed doughnut. Our company is recognised for the highest quality doughnuts and great tasting coffee since its inception in 1937. We began to expand outside the US in 2003. Today our brand operates more than 650 stores in 21 countries.
What is the USP of the Krispy Kreme brand?
Krispy Kreme's breadth of appeal extends across all major demographic groups, including age and income. In addition to their taste, quality and simplicity, Krispy Kreme doughnuts are an affordable and indulgent sweet treat. Our doughnuts are prepared using a secret recipe that has been with our company since its inception.
Why did your brand opt for franchising to enter India?
All Krispy Kreme stores outside the US are franchised. While entering a new market, it is
important for a brand to understand the local culture, language and have an understanding of the local business practices. This is best accomplished by partnering with experienced local franchisees that already have businesses in their franchise territory.
You have opted for regional franchise partnerships in India? What is the idea behind it?
India is a vast country, both in terms of population and geography, with regional differences of customs and business practices. Recently, Krispy Kreme has entered into two development agreements in India. We have signed the first regional agreement with a new franchisee, Bedrock Food Company Pvt Ltd, which will open 35 outlets over the next five years. The stores will be located in six states in the Northern region of India, including Delhi, Jaipur and Lucknow. Moreover, we have also inked a second deal with Citymax Hotels Pvt Ltd, a part of Dubai-based Landmark Group, for the development of 80 franchised Krispy Kreme retail shops in the next five years throughout the Southern and Western regions of India.
With several international players coming to India, how will you maintain the brand's exclusivity in the market?
Krispy Kreme products are one-of-a- kind, which speak for themselves. We think that the brand's product offerings, along with its great in-store customer experience, will be attractive for Indian consumers.
Share with us the brand's further growth plans in India in the coming years?
We are committed to opening 115 stores over the next five years in three regions in India. Our business model does not include sub-franchising. However, we are hopeful of engaging franchisees in other parts of the country as well.