WINSTON-SALEM, N.C. (AP) -- Krispy Kreme Doughnut Corp. said Wednesday that its first franchise location in India will open on Saturday.
The opening of the Bangalore store is part of a deal announced in June between the Winston-Salem, N.C.-based donut maker and Citymax Hotels Pvt. Ltd. for the development of 80 Krispy Kreme franchise stores in India over five years. The stores will be located across the southern and western regions of India, Krispy Kreme said.
Citymax Hotels is part of Dubai-based Landmark Group, one of the largest retailers in India and the Middle East. It operates food and beverage businesses, along with entertainment centers.
Krispy Kreme shares rose 23 cents, or 2 percent, to $11.67 in afternoon trading. The stock, which traded below $6 over the summer, has nearly doubled in price in the past six months, recently hitting a 52-week high of $11.98.
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