Krispy Kreme Doughnuts Inc. of the US said it expects to replicate the success of its initial foray in Canada as it spreads across the country.
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The group is reported to be “thrilled” with the performance of its pilot store in the Mississauga suburb of Toronto. “The response has been overwhelming, and we’ve been very fortunate in having high-quality real estate become available to us sooner than we thought, virtually in all market places,” said Roly Morris, president and CEO of KremeCo. KremeCo has Krispy Kreme development rights for Ontario, Quebec and Atlantic Canada.
Canada’s first Krispy Kreme store opened six months ahead of schedule, last December. Morris expects that positive trend to be maintained. The group is under contract to build three locations this year and another five in 2003, but Morris predicts KremeKo will surpass both targets. The group plans to open 32 stores over six years.
The group’s second Krispy Kreme outlet will also be in the greater Toronto area, Mr. Morris said, adding that the first Quebec store will open before the end of the year.
To view a recent editorial on Krispy Kreme’s international expansion campaign, click here.
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