WINSTON-SALEM, N.C. — Krispy Kreme Doughnut Corp. will continue to expand in the Asia Pacific region with the announcement it has reached an agreement with existing franchisee Lotteria Co., Ltd. for 60 new Krispy Kreme franchise locations in South Korea over the next five years. The franchisee also plans to remodel more than half of its existing 73 Krispy Kreme locations throughout South Korea, Krispy Kreme said.
“It is fantastic when we can build on existing business relationships to continue the exciting growth we are experiencing in Asia and around the world,” said Jeff Welch, president of Krispy Kreme International. “Lotteria knows the Krispy Kreme brand well, and their Q.S.R. expertise is unmatched in the market. We expect their success in South Korea will continue as they further expand the Krispy Kreme brand.”
Krispy Kreme has more than 540 stores in 21 international markets, and the new development agreement will bring franchisees’ commitments for new international shops to nearly 425, Mr. Welch said.
Krispy Kreme is located in more than 785 locations in 22 countries, including Australia, Bahrain, Canada, China, Dominican Republic, India, Indonesia, Japan, Kuwait, Lebanon, Malaysia, Mexico, the Philippines, Puerto Rico, South Korea, Qatar, Saudi Arabia, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States.