KRISPY KREME LAUNCHES IN NIGERIA WITH $7M INVESTMENT, TO OPEN 20 STORES @krispycreme

Krispy Kreme officially opened its first store in Nigeria on March 10, 2018, as part of a $ 7 million investment from the company. The new stores will be operated by Quality Foods Africa, which aims to open 20 outlets by 2023. Nigeria's first Krispy Kreme store will open on March 10 at the Ikeja City shopping center in Lagos. The new stores will be operated by Quality Foods Africa, a Mauritius-based holding company for Fast Food Restaurant Operators (QSRs). The news of its partnership with Krispy Kreme Donut Corporation was released in March 2017. Quality Foods Africa aims to open 20 Krispy Kreme outlets in Nigeria in the next 5 years.

Krispy Kreme stores in Nigeria will offer 16 different varieties of donuts, as well as Nigerian mixed coffee. There is little direct competition in Lagos, although there are a large number of independent bakeries and pastries offering a wide range of desserts. The closest competitors are local brands Donuts and Crumbs, and Dough Nigeria, which runs a US-style donut box delivery service. Nigeria is Krispy Kreme's second market to be launched in Africa, having opened its first store in South Africa in Rosebank, Johannesburg, in November 2015. There are currently 11 Krispy Kreme stores in South Africa. The Krispy Kreme Middle East franchisee, Americana, has not yet opened Krispy Kreme stores in Egypt. Dunkin 'Donuts was launched in South Africa in October 2016 and also has 11 stores. The company also owns 10 stores in Egypt, operated by Alamar Foods Company of Saudi Arabia, Domino's main franchise operator in the Middle East. Dunkin 'Donuts has identified Nigeria, Morocco and Tunisia as key franchise opportunities in Africa.

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