Krispy Kreme, Inc.

Krispy Kreme, Inc. is a sweet treat brand operating in 42 countries. The company sells doughnuts through an omni-channel business model, which had 15,194 points of access globally as of the end of fiscal 2025. Krispy Kreme's business model focuses on fresh, high-quality doughnuts and utilizes a Hub and Spoke model for production and delivery. The company sells doughnuts through three main channels: Hot Light Theater Shops and Fresh Shops, fresh delivery, and digital. The Hub and Spoke model includes Doughnut Factories, which are non-consumer facing production hubs supplying fresh doughnuts to Spoke locations. Hot Light Theater Shops are consumer-facing hubs where doughnuts are made and sold on-premise, also serving as local production hubs. The average capital investment for a Hot Light Theater Shop is $2 million to $5 million. Fresh Shops are smaller Doughnut Shops and kiosks without manufacturing capabilities, selling fresh doughnuts delivered from Hub locations. The average capital investment for a Fresh Shop is $0.1 million to $1 million.