UK market on Krispy Kreme's expansion plan
Krispy Kreme, an American global doughnut company and coffee-house chain sees huge potential in the UK market. The brand is looking forward to expanding its network by adding 60+ touch points in 2015. In 2014, the brand expanded its distribution network to 670 locations across the UK, opening five new retail stores in key locations such as Oxford and Livingston and 80 new self-serve cabinets.
The brand is also piloting a series of mobile units in secondary retail locations to help spread the joy of Krispy Kreme in shopping centres across the UK. Explaining about the brand’s presence, Richard Cheshire, Managing Director, Krispy Kreme UK, said: “Currently the brand operates 53 stores in UK and has a presence in over 600 cabinets with retail partners. It entered the UK market in October 2003 in London and since then has opened hotlight stores in Bristol, Birmingham, Bluewater, Edinburgh, Enfield, Gateshead, Leeds, Manchester, Slough, Shannon Corner.”
Famous for its hand-finished doughnuts, Krispy Kreme showed an annual compound profit growth of 84.49 per cent over a three year period. Ever since the launch of Kripsy Kreme in the UK, the doughnut brand has observed strong results by its network expansion and product innovation strategies. Mike Dowell, Chief Executive Officer, Krispy Kreme UK adds: “We attribute our success to our recent openings in Leicester and various other places with exciting new product developments across doughnuts and drinks.”
Krispy Kreme took its inception in 1937 in US when Vernon Rudolph bought a secret yeast-raised doughnut recipe from a French chef. Krispy Kreme UK is known for its fresh doughnuts baked in hotlight stores and delivered to its coffee bars, kiosks and self-serve cabinets across the country.