(By Balaseshan) Krispy Kreme Doughnuts (NYSE:KKD), a retailer and wholesaler of doughnuts complementary beverages, said it has awarded the franchise development rights for the south and west regions of India to Citymax Hotels Pvt. Ltd.
Krispy Kreme has agreed with Citymax for the development of 80 franchise Krispy Kreme retail shops in the next 5 years across the south and west regions of India.
Citymax is part of the Dubai-based Landmark Group, one of the largest retailers in India and the Middle East. The group is well known for its Lifestyle chain of retail stores in India. It operates food and beverage entities and the largest entertainment centres across the country.
The Krispy Kreme Original Glazed doughnut can be found in over 690 stores in 21 countries, including Australia, Bahrain, Canada, China, Dominican Republic, Indonesia, Japan, Kuwait, Lebanon, Malaysia, Mexico, the Philippines, Puerto Rico, the Republic of Korea, Qatar, the Kingdom of Saudi Arabia, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States.
KKD closed Tuesday's regular session up 1.82% at $6.16. The stock has been trading between $5.78 and $10.08 for the past 52 weeks.