Global Market Analysis: Krispy Kreme In Hong Kong

989 words - 4 pages

Company HistoryKrispy Kreme was established in 1937 by Vernon Rudolph who left the family business, taking with him a 1936 Pontiac, $200 in cash, a doughnut making machine and the secret yeast raised doughnut recipe. Rudolph opened the first Krispy Kreme doughnut shop in Winston- Salem, North Carolina. Rudolph took on two new partners and rented a building for $25 across from Salem College. With no money to buy ingredients, Rudolph promised a local grocer to lend him the ingredients and repaid the loan as doughnuts were sold. The partners began selling to grocery retailers using the Pontiac as a delivery wagon. As requests for "fresh baked" donuts increased, they cut a hole in the building to sell to passer byes. By 1950, Krispy Kreme had 29 shops in 12 states. By 1960, they standardized all Krispy Kreme shops with the green roof, red glazed exterior, inside viewing window and overhead conveyor creating the Krispy Kreme trademark look. In 1976, Beatrice Foods purchased Krispy Kreme and made a series of changes. Customers reacted negatively and sales declined. In 1982, group of franchisees bought the company in a $22 million leverage buy-out and reinstated the original recipe and signature look.Market SegmentKey points in defining the market segment for Krispy Kreme doughnuts are providing a treat that can be for a wide array for people in all walks of life, young and old, rich or poor. With rapid growth, more locations will become available in the near future. Krispy Kreme doughnuts are a convenience breakfast food, snack or dessert. Krispy Kreme has been successfully distributed in many area of the United States.Future OpportunitiesThe upside potential for Krispy Kreme doughnuts over the next five years:1. Increase growth rate with opening of additional locations.2. Increase sales revenue with opening of additional locations.3. Focus on on-site sales.4. Expansion into international markets.The constant growth of the Hong Kong economy is an exceptional example of why Hong Kong is such a good country to bring Kripy Kreme to market. Real Growth Rate is a good indicator of Hong Kong's investment return potential. The impression is conveyed that the Hong Kong government is committed to providing a stable business environment. Hong Kong's strong business environment can also be seen through it's very healthy level of unemployment. Hong Kong's unemployment rate has been fluctuating around anywhere from two to three percent. Like many of the other trends and statistics in Hong Kong, investments are growing with every coming year. This continues because the Hong Kong market offers stability and potential that investors are looking for.Hong Kong's close proximity is advantageous as China has the 2nd largest GNP based on purchasing power parity. Geographically, Hong Kong is close to the Guandong Province, a vast manufacturing area. Some believe that Hong Kong's financial and transportation infrastructure, combined with Guangdong's manufacturing...

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