Krispy Kreme, which returned to the public markets last year, outlined plans to invest in automation, expand internationally and pay down additional debt
As a private company, Krispy Kreme focused on improving the quality of doughnuts it sold through third-party retailers like supermarkets and convenience stores. The company implemented what it describes as a hub-and-spoke model, using capacity in its retail locations toto other locations nearby. It also acquired many of its franchisees in the process, and racked up debt that it is working to pay down.
“There’s a lot of manual intervention behind the scenes,” said Mr. Charlesworth, who also serves as global president and chief operating officer, discussing doughnut production. For instance, employees manually dip doughnuts into bowls of icing, he said. “We’ll have to learn as we go,” Mr. Charlesworth said, referring to the automation push. The company is committed to maintaining the quality of its doughnuts in the process, he said.The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.As it looks to boost revenue, the company plans to enter international markets, including France, Chile, Costa Rica and Switzerland, in 2023. It currently operates in 31 countries.
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