WINSTON-SALEM N.C. In a continued push to grow its international business, Krispy Kreme Doughnuts Inc. said it has signed a development agreement for 35 units in China.
The agreement with KKD Lotte Holdings Company Ltd. calls for the restaurants to be built over the next four to five years in the metropolitan areas of Beijing, Tianjin and Shanghai. KKD Lotte is based in South Korea and already holds development rights for Krispy Kreme in that country and in Japan.
Krispy Kreme, which has units in 15 countries outside of the United States, recently signed franchise development agreements with groups in Malaysia and Turkey.
In reporting results for its most recently ended quarter, Krispy Kreme said a strong performance by its overseas restaurants was entirely responsible for a 3.9-percent increase in systemwide same-store sales. Almost all of Krispy Kreme’s 260 international stores are operated by franchisees.
Krispy Kreme, based here, operates or franchises 494 doughnut shops.