Krispy Kreme in Cagayan de Oro
If you ask most Kagay-anons of their favorite handy pasalubong from Manila, probably you won’t disagree with chadacdo when we say Krispy Kreme is always on top of the list. Krispy Kreme is an International chain of doughnut stores that was founded by Vernon Rudolph in 1937 in Winston-Salem, North Carolina with glazed doughnut as its signature doughnut. Since then Krispy Kreme has expanded worldwide.
In the Philippines, Krispy Kreme currently has 17 branches in Metro Manila and one in Angeles City, Pampanga, and two branches in Cebu City. With Cagayan de Oro‘s vast development, the chain is looking into putting up a branch in Cagayan de Oro. Here’s an excerpt of an interview with an official (Peter King) from the famous chain by Aileen Garcia Yap of Inquirer News.
“For every Fresh Shop that we open we invest P10 million to P15 million. For a Factory Store like the one in Asiatown IT Park we invest at least P20 million,” she said.
Cebu is their first area outside of Luzon. The company is the master franchisor of Philippine’s Krispy Kreme.
“While we know that our products have become a pasalubong item from Manila and we might lose some of that sales because of this opening, we think that our expansion here is very reasonable considering Cebu has access to other areas in the Visayas and Mindanao,” Salud said.
Despite the presence of other players in the market, Krispy Kreme Doughnut Corp. vice president for Asia Pacific Peter King said they are optimistic they can compete with other brands.
“We are confident because we know that we have the best products and Cebuanos understand and appreciate that value. It is with that confidence that we are also very optimistic about growing the Visayas and Mindanao market through Cebu,” said King.
Salud said they are looking at key cities in Mindanao like Davao and Cagayan de Oro for expansion and would add more outlets in Southern Luzon in 2012.