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SOURCE Krispy Kreme Doughnut Corporation
Krispy Kreme Partners with Russian Restaurateur Arkady Novikov to Bring Its Signature Treats to Russia
WINSTON-SALEM, N.C., Sept. 10, 2013 /PRNewswire/ -- In collaboration with Russian restaurateur and franchise partner Arkady Novikov, owner and operator of LLC Doughnuts Cafe, the first Krispy Kreme doughnut shop in Moscow is scheduled to open on Thursday, September 12, 2013. With the opening of the new Moscow location, the international sweet treat retailer will have a presence in 22 countries around the world.
"We look forward to working with Mr. Novikov and the LLC Doughnuts Cafe team as they continue to expand in Moscow," explains Jeff Welch, Krispy Kreme President-International. "With their vast knowledge of the appetites and attitudes of Muscovites, and proven track record of success, it is our hope that our beloved brand will become an integral part of Moscow's culture for many years to come."
Krispy Kreme Doughnut Corporation announced a development agreement for Moscow with LLC Doughnuts Cafe, wholly owned and operated by Arkady Novikov, owner of the Novikov Restaurant Group, in April 2012. Under the agreement, LLC Doughnuts Cafe has agreed to build 40 Krispy Kreme shops in the city of Moscow.
"I was very inspired by the sensational taste of Krispy Kreme doughnuts when I tried them for the first time during a trip to London," says Arkady Novikov. "Today, I am extremely proud to have the opportunity to introduce this beloved brand and Krispy Kreme's great-tasting doughnuts to my fellow Muscovites. I am confident they will enjoy them as much as I do."
The approximately 300 square meter (3229 square feet) Krispy Kreme doughnut shop is located on Nikolskaya Street, just behind Moscow's famous Gum Shopping Arcade and Red Square, making it the perfect destination for area shoppers and tourists. The menu will feature an assortment of iced, glazed, and filled doughnuts, as well as an array of premium coffees and espressos, teas and iced beverages.
While inside the shop, customers can enjoy the delicious sights and aromas of fresh doughnuts being made and served from the production line through Krispy Kreme's iconic Doughnut Theater™. While the signature Original Glazed® doughnuts are being made, Krispy Kreme's Hot Light™ will be illuminated to alert customers that doughnuts are being made and served Hot Now® in the store.
"With an expanding presence of over 540 locations in 21 international markets, Krispy Kreme has experienced dramatic international growth over the last seven years," explains James Morgan, CEO and President of Krispy Kreme. "We are excited to add Moscow to our growing list of international markets, and look forward to our continued growth."
Krispy Kreme's most recent international market openings include Edinburgh and Bangalore, with the opening of a new Singapore location planned for later this year. Additionally, Krispy Kreme is currently working on new development opportunities in Central and South America.
About Krispy Kreme
Krispy Kreme (NYSE: KKD) is an international retailer of premium-quality sweet treats, including its signature Original Glazed(R) doughnut. Headquartered in Winston-Salem, N.C., the Company has offered the highest-quality doughnuts and great-tasting coffee since it was founded in 1937. Krispy Kreme is proud of its Fundraising program, which for decades has helped non-profit organizations raise millions of dollars in needed funds. Today, Krispy Kreme can be found in over 785 locations in 21 countries around the world. Visit us at www.KrispyKreme.com.
About LLC Doughnuts Cafe
LLC Doughnuts Cafe is a licensed franchisee of Krispy Kreme Doughnut Corporation in Moscow, Russia, wholly owned and operated by Arkady Novikov. Mr. Novikov also owns and operates the Moscow -based Novikov Restaurant Group. The Novikov Restaurant Group includes a variety of businesses located in Moscow, St. Petersburg and London, U.K. including more than 40 stand-alone family and fine dining restaurants, plus the casual dining chains Barashka, Kish Mish, Delis Cafe and Prime Star. In addition, the Novikov Restaurant Group owns and operates the karaoke bar Krik, seafood supplier NRG, agricultural enterprise Agronom, florist chain Flower Studio 55, professional catering company Novikov Catering, luxury real estate firm Mainstreet and the balanced food project Just for You.
Information contained in this press release, other than historical information, should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's beliefs, assumptions and expectations of our future economic performance, considering the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause our actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition we express or imply in any forward-looking statements. The words "believe," "may," "forecast," "could," "will," "should," "would," "anticipate," "estimate," "expect," "intend," "objective," "seek," "strive" or similar words, or the negative of these words, identify forward-looking statements. Factors that could contribute to these differences include, but are not limited to: the quality of Company and franchise store operations; our ability, and our dependence on the ability of our franchisees, to execute on our and their business plans; our relationships with our franchisees; our ability to implement our international growth strategy; our ability to implement our domestic small shop operating model; political, economic, currency and other risks associated with our international operations; the price and availability of raw materials needed to produce doughnut mixes and other ingredients, and the price of motor fuel; our relationships with wholesale customers; our ability to protect our trademarks and trade secrets; changes in customer preferences and perceptions; risks associated with competition; risks related to the food service industry, including food safety and protection of personal information; compliance with government regulations relating to food products and franchising; increased costs or other effects of new government regulations relating to healthcare benefits; and risks associated with implementation of new technology platforms. These and other risks and uncertainties, which are described in more detail in the Company's most recent Annual Report on Form 10-K and other reports and statements filed with the United States Securities and Exchange Commission, are difficult to predict, involve uncertainties that may materially affect actual results and may be beyond the Company's control, and could cause actual results, performance or achievements to be materially different from those expressed or implied by any of these forward-looking statements. New factors emerge from time to time, and it is not possible for management to predict all such factors or to assess the impact of each such factor on the Company. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
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