Krispy Kreme Growth: Donut Chain To Launch 7 Stores In New York City By The End Of 2020

Popular donut chain Krispy Kreme is looking to expand its presence in one of the world’s biggest cities. The North Carolina-based company plans on launching seven new locations in New York City by the end of 2020, its biggest expansion push in roughly a decade. These new locations will include a flagship store in Times Square that will be open 24 hours.

“If we're going to be the most-loved sweet treat brand, then we have to be in places like New York,” company President Andrew Skehan said in a statement to CNN.

Krispy Kreme once had six locations in the Big Apple, but all except the Penn Station location were shut down by 2009. In general, Krispy Kreme has lagged in the northeast due to the overwhelming dominance of Dunkin Donuts.

Now, Krispy Kreme is coming off a period of significant growth, since it was purchased by JAB Holdings for $1.35 billion in 2016 and turned back into a private company. Since then, the chain has opened 64 locations across the U.S. for a total of 380. It has also worked to introduce new menu items and remodel 350 locations.

The Penn Station Krispy Kreme will reopen with a new look on Thursday, followed by a new midtown store on Feb. 4. In addition to Times Square, the company is looking to open its new locations in the Financial District, Harlem, the Upper West Side, and near Fordham University in the Bronx. The new stores will also offer city-exclusive donut types. The company has so far received 2,500 applicants for 400 new jobs at the forthcoming NYC locations.

The Times Square flagship store is planned to open in May. It will reportedly feature a sprawling design, with high ceilings, stadium seating, and a 4,500-square-foot space overall.

Despite customers’ eating habits trending away from sugar-packed foods like donuts in the past few years, Skehan said that the company’s sales are nonetheless “growing consistently.”

“Our philosophy is everything in moderation,” Skehan said. “Customers are being more aware of what they're consuming and whatever they're consuming is the best possible treat to consume.”