American-style doughnuts are set to roll into the Kingdom after US-based doughnut chain Krispy Kreme announced it would open 10 shops across Cambodia over the next five years.
Krispy Kreme has signed an agreement with Express Food Group (EFG), a Cambodian subsidiary of Bangkok-based RMA Group, to introduce the popular doughnut brand in Cambodia, though details of the agreement have yet to be made public.
Saing Ngorn, CEO of RMA Group Cambodia, said the locations of the stores are still under discussion, with the first store set to open at the end of this year.
Ngorn said that the company was not fazed by the increasing number of upscale cafés and bakeries in the capital, saying American-style doughnuts were still a niche market.
“There is no real doughnut in the Cambodian market right now and we see strong growth in the food industry,” he said.
“We are delighting Cambodians with original tastes and experience world class services from Krispy Kreme,” Ngorn added.
EFG manages other international chains in the Kingdom such as the Pizza Company and Dairy Queen.
Dan Beem, Krispy Kreme’s senior vice president and president – international, said, in a statement released yesterday, that the company was looking for a partner with strong franchising experience and EFG fit the bill, having delivered “exceptional customer experience” in the past.
“This agreement will further strengthen Krispy Kreme’s brand position throughout Asia and will enable us to bring our mission of touching and enhancing lives through the joy that is Krispy Kreme to the people of Cambodia,” said Beem.
Krispy Kreme, which is publicly listed on the New York Stock Exchange, currently has over 1,000 shops in 24 countries, including Malaysia, Thailand, the Philippines, Singapore, and Indonesia.
The company expects to add 95 to 110 international shops during the current fiscal year, according to its latest financial filings.