Krispy Kreme has signed a development agreement with Doughnut Group Pte. Limited, to open 10 Krispy Kreme shops in Myanmar over the next five years, the US doughnut chain said on Tuesday.
Krispy Kreme is one of only a small number of western restaurant brands that have announced intentions to open in Myanmar. Dan Beem, Krispy Kreme’s Senior Vice President and President – International, said with a growing economy and a population eager to welcome global brands, the time is right for Krispy Kreme to bring its sweet treats to Myanmar.
"We see a lot of potential for Krispy Kreme in Myanmar, and we are pleased that Doughnut Group Pte. Limited is planning to deliver to the people of Myanmar the iconic Krispy Kreme experience that we are known for around the world, including our Original Glazed doughnut," said Beem.
Pote Narittakurn, owner of the Singapore-based Doughnut Group Pte. Limited, said with the recent evolution of Myanmar, which recently opened to foreign investment and development, this is an opportune time for Krispy Kreme to be one of the first western brands in the country.
"Myanmar is an up-and-coming market with a large population of people who are eager to start getting a taste of iconic brands like Krispy Kreme," said Narittakurn. "We’re confident the Krispy Kreme experience will be as meaningful in Myanmar as it is in Memphis or Manila, or anywhere else around the world where our signature sweet treats and coffee are served."