U.S doughnut chain Krispy Kreme announced Tuesday that it plans to open 10 shops in Costa Rica over the next five years. The company will partner in the venture with local firm Inversiones DBA-KKD.
Krispy Kreme’s senior vice president Dan Beem said Costa Rica’s rapid market growth and consumer demand for sweet treats “makes this the perfect time for Krispy Kreme to expand in the country.”
One of the lead Costa Rican investors, Miguel Hernández, said Ticos will find Krispy Kreme shops to be their new favorite spot for something sweet and a premium cup of coffee. “We are happy to bring the joy of Krispy Kreme to Costa Rica,” he said.
The company’s announcement did not give any details about launch dates or locations for the first doughnut shops.
The North Carolina-based company opened its first location in 1937 and currently has more than 1,000 retail shops in 27 countries.
Food franchise sector
According to data from the National Franchise Center, part of the Costa Rican Chamber of Commerce, there were 217 international franchises here at the end of 2015. That figure represents 78 percent of all franchises in the country.
A quarter of those foreign franchises are in the food sector, making it second in importance after clothing stores, which currently represent 32 percent of franchises here.
Restaurants dominate the food franchise subsector with a share of 42 percent, followed by fast food chains with a share of 32 percent, coffee shops with 15 percent and ice cream parlors with 11 percent.
