Krispy Kreme Doughnuts Inc. has signed a deal that could result in as many as 40 new franchised stores in Japan.
Winston-Salem-based Krispy Kreme said it awarded the development rights for the greater Tokyo area to a joint venture between Revamp Corp., Lotte Co. Ltd. and Takeo Shigemitsu, president and representative director of Lotte Co. Ltd. An affiliate of Lotte Co., Lotte Shopping Co. Ltd., is Krispy Kreme’s franchisee for South Korea and operates nine stores there.
The announcement is the third major international franchisee agreement the troubled doughnut company has made in the past two months. It’s also awarded franchises to companies to develop stores in China and the Middle East over the next five years.
Together, all three announcements could result in as many as 160 additional Krispy Kreme Doughnuts stores being opened overseas.
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