US based Krispy Kreme doughnuts will soon be opening its first outlet in India before the end of this year in Bangalore. Citymax Hotels Pvt Ltd the hospitality business of the Dubai based landmark Group will be spending Rs. 75 crores to open 80 franchised outlets over the next five years.
Citymax president Vishal Sawhney on August 22, 2012 said that three quarters of the stores will be 500 to 1,400sq feet and the rest will be 3,500 to 3,800 ft. In the month of June the New York based Krispy Kreme Doughnuts corp said that it has signed an agreement with Citymax to open its coffee and doughnuts in the southern as well as the western regions of the country.
A similar deal has been signed with Bedrock Food Co Pvt Ltd to open 35 stores over the next five years in northern India. After Bangalore the next outlet will be opened in Mumbai. The food chain also plans to open the outlets in the cities like Hyderabad, Pune ad Chennai.
Krispy Kreme’s entry in India marks competition for the US rival Dunkin Donuts which opened its first store in the month of May. On the other hand Starbucks also plans to open 50 stores in India this year.