Retail in Asia

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Krispy Kreme inks deal to open 80 stores in India

Krispy Kreme Doughnut Corp. said on Wednesday that it reached a deal with Citymax Hotels Pvt. Ltd for the development of 80 Krispy Kreme franchise stores over the next five years in India.

Financial terms were not disclosed. The stores will be located across the south and west regions of India, the US-based company said.

Citymax Hotels is part of Dubai-based Landmark Group, one of the largest retailers in India and the Middle East. It operates food and beverage businesses, along with entertainment centres, Krispy Kreme said.

(Source: CNBC)