Following a path previously trod by its rival Dunkin' Donuts, Krispy Kreme Doughnuts (NYSE:KKD) is going to Russia.
On Tuesday, the Winston-Salem, N.C.-based doughnut purveyor announced that it is partnering with Russian restaurateur Arkady Novikov, owner of Moscow-based LLC Doughnuts Cafe, to open the first Krispy Kreme franchise in Moscow. The new shop, located on Nikolskaya Street adjacent Moscow's famous GUM shopping mall and Red Square, is scheduled to open this Thursday. It is styled as a kofeinya, or coffee house. It has 3,229 square feet. The menu will feature iced, glazed, and filled doughnuts, as well as coffees, espressos, teas, and iced beverages. There will be a Krispy Kreme's Hot Light.
Once opened, it will be the first of 40 such Krispy Kreme shops that the partners intend to open in Moscow over the coming years.
Krispy Kreme currently boasts more than 540 locations in 21 international markets. As CEO James Morgan said in a statement: "We are excited to add Moscow to our growing list of international markets, and look forward to our continued growth."
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.