Krispy Kreme Doughnut Corporation announced that it entered into an agreement with KDN Company Limited for the development of 20 franchised Krispy Kreme retail shops in Thailand over the next five years. KDN Company Limited is majority owned and operated by Ms. Ausanee Mahagitsiri, eldest child of successful Thai industrialist Prayudh Mahagitsiri.
"With KDN Company Limited, we have found a franchise partner in Thailand with a true passion for the Krispy Kreme brand and our world famous products," says Jeff Welch, Krispy Kreme president of international. "We believe that their unique and sound understanding of the Thai consumer, combined with their years of successful business experience across a variety of consumer industries, is a strong asset for them as they establish the Krispy Kreme brand in Thailand."
"We are excited to introduce to the Thai people a premium doughnut and the one-of-a-kind experience that is associated with the Krispy Kreme brand," says Ausanee Mahagitsiri, chief executive officer of KDN Company Limited. "Krispy Kreme is very popular in Japan, South Korea, and the Philippines, and we expect Krispy Kreme to be well received in Thailand as the Thai people are very fond of sweets, and believe in the concept of sharing and generosity. We are pleased to enter into a franchise relationship with Krispy Kreme."