Muscovites soon will be able to enjoy incredibly fattening Original Glazed Donuts with their tea.
Krispy Kreme (NYSE:KKD) said it has partnered with Russia-based LLC Doughnuts Cafe to build 40 Krispy Kreme shops in Moscow during the next five years. The new Moscow outlets will add to the 690 Krispy Kreme shops in operation in 21 countries worldwide.
LLC Doughnuts Cafe, owned by Arkady Novikov, will serve as the franchisee for the new Krispy Kreme shops.
Novikov also is the owner of Novikov Restaurant Group, which operates a number of dining chains in and around Moscow, including Barashka, Kish Mish, Delis Cafe and Prime Star. He recently opened operations in London.
Reuters noted that Moscow has emerged as a hot market for Western fast food chains in recent years.
In the past three years, popular U.S. chains including Burger King, Wendy’s (NASDAQ:WEN), Brinker International‘s (NYSE:EAT) Chili’s Bar & Grill and Dunkin’ Donuts (NASDAQ:DNKN) have opened outlets in the Russian capital.
Franchising operations has become a popular model for Western restaurant chains operating in Russia.
McDonald’s (NYSE:MCD), which launched its first restaurant in Moscow 22 years ago, recently announced its first franchised restaurants in Russia.