Krispy Kreme Doughnut Corporation announced that it has entered into an agreement with Star360 Group for the development of 15 Krispy Kreme franchise locations in Singapore over the next five years.
Star360 Group is considered a premier lifestyle leader in Southeast Asia, operating 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," says 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, says, "We are pleased to finally introduce Krispy Kreme, the brand that has won fans the world over, to Singapore. 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, with their world-famous Original Glazed doughnuts and blend of freshly brewed coffee.
“Singaporeans have long been doughnut lovers, and we believe that with more than 75 years of history, Krispy Kreme is well positioned to find its way in the hearts of the consumer," he says.
Welch adds, "We are quickly approaching 500 stores in our international markets. This new Singapore agreement, combined with our other recently announced development agreements, means Krispy Kreme now has commitments for almost 400 additional international store locations."
The Krispy Kreme Original Glazed doughnut can be found in more than 700 locations 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.