Krispy Kreme make in-road to Nigeria with $7m investment
With an investment portfolio of $7 million, Krispy Kreme Doughnut Corporation yesterday made an in-road into the Nigerian food and beverage market by offering consumers 16 different varieties of doughnuts, as well as Nigerian blended coffee.
Indeed, the expansion into the Nigerian market is expected to generate at least employment for 200 Nigerians with new outlets expected over the next few months.In a chat with journalists, yesterday, a non-executive director of Krispy Kreme, Alexander Trotter, explained that the investments in Nigeria is expected to bring dynamism to the country’s food sector through offerings that differentiate the brand from others.
The expansion of Krispy Kreme brand into Nigeria is implemented by Quality Foods Africa under a development agreement that will bring 20 Krispy Kreme shops to Nigeria over a period of five years.
“We are thrilled to be expanding into Nigeria, and we are looking at other cuisines over the next few years. Our expansion into Nigeria is informed by the potential in the domestic market and the need to do something rare”, Trotter added.
On his part, the firm’s Director, International Franchise Operations, Anson Markle told journalists that Krispy Kreme’s presence in Nigeria will make it the 34th country where the firm has established its presence, adding that the open production strategy is expected to reinforce the firm’s commitment to consumers in the area of quality and high standards.
On raw materials sourcing, Markle explained that while the coffee is locally sourced, its materials for doughnuts were sourced internationally to retain the standards and recipe enjoyed across its stores.
“We have planned for fluctuations that may arise with the exchange rate and also ensured that our offerings meet the best standards and cater to different market segments at an affordable price.
“As with most sweet treats, Krispy Kreme doughnuts should be enjoyed as part of a balanced diet. We take pride in the quality and nutritional value of our ingredients. For example, Krispy Kreme uses a shortening blend that has zero grams of trans fat per serving. Our doughnuts are produced according to strict quality standards on site in our shop – and our customers can experience our Doughnut Theater”, Markle explained further.
Markle further added that the firm has invested in the best quality equipment and presently putting its 200 Nigerian employees through extensive training to ensure the customer experience is world class.
QFA Marketing Manager, Busayo Awosiyan, said, “We are so proud to bring awesome doughnuts to the most vibrant city in Africa and Africa’s largest economy. We are really excited to spread the Joy of Krispy Kreme – and greeting all of our fans at our Grand Opening on Saturday, 10th March at 7am at Ikeja City Mall, when our Hot Light will be on for the first time.”
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