Krispy Kreme Doughnuts announced Thursday that it signed a deal with Star360 Group to open up its doughnut shops in Singapore and it continues to expand its international presence.
Star360 Group is wholly owned and managed by Andy Chaw and focuses on retail and distribution in Southeast Asia. In the announcement, the company said it will roll out 15 Krispy Kreme franchise locations in Singapore over the next five years.
"Their unique understanding of the Singapore consumer, coupled with their sound business experience across a variety of retail concepts, matches perfectly with the Krispy Kreme brand and experience," Jeff Welch, a senior vice president and president of international at Krispy Kreme, said in a statement.
Krispy Kreme Doughnuts has been focusing on aggressive international expansion, with the goal of doubling the number of international stores from 460 to 900 by fiscal year 2017. In 2012 alone, Krispy Kreme Doughnuts has announced franchise agreements in India, Russia, the Philippines and the United Kingdom.
"This new Singapore agreement, combined with our other recently announced development agreements, means Krispy Kreme now has commitments for almost 400 additional international store locations," he said.
With the addition of Singapore, Krispy Kreme doughnuts has presence in 22 countries worldwide.
