WINSTON-SALEM, N.C., Oct. 4, 2012 /PRNewswire/ -- Krispy Kreme Doughnut Corporation announced today 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," said 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."
"We are pleased to finally introduce Krispy Kreme, the brand that has won fans the world over, to Singapore," said Andy Chaw, Chief Executive Officer, Star360 Group. "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."
Welch added, "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 over 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.
About Star360 Group
Star360 Group is the licensed franchisee of Krispy Kreme Doughnut Corporation in Singapore, and is wholly owned and managed by Andy Chaw. The group has a strong focus in retail and distribution businesses operating 30 retail stores and distributing to more than 4,000 points-of-sale in the region. The group represents exclusively more than 15 brands in Asia.
About Krispy Kreme
Krispy Kreme (NYSE: KKD) is a leading branded specialty retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed® doughnut. Headquartered in Winston-Salem, NC, the Company has offered the highest quality doughnuts and great tasting coffee since it was founded in 1937. Connect with Krispy Kreme at krispykreme.com and on Facebook, Foursquare, Twitter and YouTube.
Information contained in this press release, other than historical information, should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's beliefs, assumptions and expectations of our future economic performance, considering the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause our actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition we express or imply in any forward-looking statements. The words "believe," "may," "could," "will," "should," "would," "anticipate," "estimate," "expect," "intend," "objective," "seek," "strive" or similar words, or the negative of these words, identify forward-looking statements. Factors that could contribute to these differences include, but are not limited to: the quality of Company and franchise store operations; our ability, and our dependence on the ability of our franchisees, to execute on our and their business plans; our relationships with our franchisees; our ability to implement our international growth strategy; our ability to implement our new domestic small shop operating model; political, economic, currency and other risks associated with our international operations; the price and availability of raw materials needed to produce doughnut mixes and other ingredients, and the price of motor fuel; our relationships with wholesale customers; our ability to protect our trademarks and trade secrets; changes in customer preferences and perceptions; risks associated with competition; risks related to the food service industry, including food safety and protection of personal information; compliance with government regulations relating to food products and franchising; and increased costs or other effects of new government regulations relating to healthcare benefits. These and other risks and uncertainties, which are described in more detail in the Company's most recent Annual Report on Form 10-K and other reports and statements filed with the United States Securities and Exchange Commission, are difficult to predict, involve uncertainties that may materially affect actual results and may be beyond the Company's control, and could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements. New factors emerge from time to time, and it is not possible for management to predict all such factors or to assess the impact of each such factor on the Company. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
SOURCE Krispy Kreme Doughnut Corporation