The Winston-Salem Journal has a piece about how Krispy Kreme seems to have started putting the pieces back together again, coming out of a long tailspin to actually generate a profit last year and now looking to transition “from remarkable recovery to sustainable profitability.”
The key, the company says, will be coffee (three new “signature” blends to launch later this year), and non-doughnut products (bagels, muffins and sweet rolls with a longer shelf life than doughnuts). CEO Jim Morgan says that he hopes to follow “a business plan of prudent domestic and international growth — up to 45 shops by next January” - that will gain both customer and investor acceptance.
The key, the company says, will be coffee (three new “signature” blends to launch later this year), and non-doughnut products (bagels, muffins and sweet rolls with a longer shelf life than doughnuts). CEO Jim Morgan says that he hopes to follow “a business plan of prudent domestic and international growth — up to 45 shops by next January” - that will gain both customer and investor acceptance.
- KC's View:
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Krispy Kreme is such a classic case of totally screwing up brand equity - going from being a cool brand with hot doughnuts to being one that was over-exposed, with diminishing attention to quality, and facing a buzz-saw known as the low-carb diet. Add to that financial problems, and it is almost amazing it has survived to the extent it has.
Hard to know if the company will be able to survive or even stay independent. I just hope they’ve learned from their mistakes.
