Dubai-based retailer Landmark Group has signed a franchise agreement with U.S. Krispy Kreme Doughnuts Inc. and will soon introduce Krispy Kreme stores in India.
The lifestyle department stores, Max apparel stores and Home Center stores that deal in home-furnishing products India are being run under Landmark Group. Now it is looking forward to obtain franchise rights to inaugurate 80 Krispy Kreme stores across south and west India in the coming five years.
Citymax Hotels India Pvt. Ltd., the hospitality division of Landmark Group, said in a statement dated Wednesday the first Krispy Kreme store is planned to open in the southern Indian city of Bangalore by the end of this year.
The Indian outlets will also serve dishes that appeal to the local taste, the Indian company said.
Peter King, vice president for international development at Krispy Kreme, said the partnership with Landmark group is based on the retailer’s understanding of the Indian market over the years.
Krispy Kreme’s entry into India has also bring in the competition in the south Asian nation, with U.S.-based doughnut and ice-cream seller Dunkin’ Brands Group Inc. and coffee chain Starbucks Corp. already charting out their plans to tap Indians’ growing appetite for Western fast food.
Foreign food brands are seeking opportunities to set up or expand their presence in India as a growing number of the country’s middle-class population is eating out and spending more on beverages and processed foods.
Dunkin’ Donuts already has a set off the rivals after it entered into a franchise agreement with Jubilant FoodWorks Ltd. earlier this year and opened a few outlets in India.
Starbucks plans to set up its first cafe in India later this year in a joint venture with Tata Global Beverages Ltd.
Most of these chains are betting big on emerging economies such as India to expand globally as it seeks to supplement growth in its home market.
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