Krispy Kreme (NYSE: KKD) announced today that it has signed a multiyear development agreement for the Guangdong Province of China with Haiya Group. Under the agreement, Krispy Kreme's newest international franchise partner expects to develop 23 stores over the next five years.
"Haiya Group is one of the leading retail companies in Guangdong and has been operating a variety of successful retail businesses in Guangdong for more than 20 years. We are pleased to welcome Haiya Group to the Krispy Kreme family," said Jeff Welch, Krispy Kreme President — International . "Guangdong is the largest consumer market in China, and we believe Haiya Group's unique and sound understanding of the Chinese consumer will be a vital asset in successfully establishing and building the Krispy Kreme brand throughout this important province. We look forward to working with Huilong Tu to bring the one-of-a-kind Krispy Kreme experience to the people of Guangdong."
"We are excited to develop the Krispy Kreme brand in Guangdong and to work hand in glove with Krispy Kreme as a partner and supporter," said Huilong Tu, Chairman and Founder of Haiya Group. "Chinese consumers are always welcoming of different flavors and cultures from around the world. We are confident that Guangdong consumers will enjoy and love the unique hot Original Glazed® doughnut, and that the fun in-store experience of the Doughnut Theatre™ will bring them the joy of Krispy Kreme on many occasions."
The Krispy Kreme Original Glazed® doughnut can be found in more than 800 retail shops in more than 20 countries in North America, Latin America, Asia/Pacific, the Middle East and Europe.
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