Krispy Kreme Doughnut Corporation announced today that it has signed a development agreement for Moscow with Doughnuts Cafe, wholly owned and operated by Arkady Novikov, owner of the Novikov Restaurant Group.
As part of the new agreement, the franchisee is expected to build 40 Krispy Kreme shops over the next five years in the city of Moscow.
"We are very excited to work with Arkady Novikov, someone so instrumental in the development of today's vibrant restaurant culture in Moscow," says Jeff Welch, Krispy Kreme President, International.
"Arkady's great passion for the Krispy Kreme brand, combined with his strong organizational structure and years of successful restaurant experience in Moscow, are strong assets he can leverage as we launch the brand in Russia. We look forward to a long relationship with Krispy Kreme fans in Moscow."
"I am grateful to Krispy Kreme for their choice of us as partners in development of the brand in Moscow," says Arkady Novikov, President, Novikov Restaurant Group.
"Our team is excited to bring this iconic brand to Moscow and share the world famous melt-in-your-mouth taste of Krispy Kreme's signature doughnuts and beverages with the Russian consumer. We believe Krispy Kreme's premium products and one-of-a-kind experience will quickly become a favorite of Muscovites."
The Krispy Kreme Original Glazed doughnut can be found in over 690 stores in 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 United States.
LLC Doughnuts Cafe is a licensed franchisee of Krispy Kreme Doughnut Corporation in Moscow, Russia wholly owned and operated by Arkady Novikov.
Krispy Kreme (NYSE: KKD) is headquartered in Winston-Salem, NC. It was founded in 1937. Today, Krispy Kreme shops can be found in over 690 locations in 21 countries around the world. Connect with Krispy Kreme at krispykreme.com and on Facebook, Foursquare, Twitter and YouTube.