No.1 Food Brand
Krispy Kreme takes the sweet spot to become the No1 food brand to be listed in The Sunday Times BDO Profit Track 100
London, 16th April 2015 – Krispy Kreme UK is delighted to have made its debut appearance in the prestigious Sunday Times BDO Profit Track 100, becoming the first food brand to appear within the top 20! The league table, published on April 12th, ranks Britain's 100 private companies with the fastest-growing operating profits, based on their latest three years of available accounts.
The leading doughnut brand, whose hand-finished doughnuts are made fresh daily, showed annual compound profit growth of 84.49%, over a three year period to its year ended 2nd February 2014. Led by Mike Dowell (Chief Executive Officer), Richard Cheshire (Managing Director) and Robert Ledger (Financial Director), Krispy Kreme UK expects this sweet progress to continue and anticipates reporting EBITDA growth of just under 10% to £10.3 million (2014: £9.4 million) when their 2015 figures are released later on this year.
Since launching in the UK in October 2003, Krispy Kreme has achieved steady growth to become the UK's No1 doughnut brand and has seen strong results from its network expansion, enhanced by strong product innovation.
In 2014, the brand expanded its distribution network to 670 locations across the UK, opening 5 new retail stores in key locations such as Oxford and Livingston, 80 new self-serve cabinets and is expected to expand this network by at least 60 additional touch points in 2015. Krispy Kreme took an innovative approach to non-traditional retailing by creating pop up stores to sell their mouth-watering doughnuts at iconic events such as the NFL tour at Wembley. It is also piloting a series of mobile units in secondary retail locations to help spread the joy of Krispy Kreme in shopping centres across the UK.
Famous for its iconic Original Glazed doughnut, Krispy Kreme over the past 12 months has launched a unique Milkshake range, generating sales of over £1 million. It also created partnerships with on trend brands Reese's and Lotus Biscoff to offer limited edition treats which became the some of the brand's best performing doughnuts.
Mike Dowell, Chief Executive Officer:
"We're delighted that this success is being recognised in The Sunday Times BDO Profit Track. New openings such as our most recent store in Leicester and exciting new product developments across both doughnuts and drinks has contributed significantly to this success."
"Whilst we have grown our retail network rapidly over the last year, our vertically integrated hub and spoke model has ensured that we achieve rapid payback on our investment. This means that we can continue to make strong progress in the current year, in terms of both revenue and profits" continues Dowell.
Krispy Kreme prides itself on continuously evolving the customer experience through their uncompromising commitment to highest product quality, innovation, and customer service. It is this unwavering commitment that has been central to their growth and success.
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Note to editors
Krispy Kreme UK opened its first British outlet in Harrods in 2003. Haven Burke founded the Surrey-based retailer after securing a franchise agreement from Krispy Kreme Doughnuts Inc. before Alcuin Capital acquired a majority stake for an undisclosed sum in 2011.
Krispy Kreme UK currently owns and operates over 50 stores and has a presence in over 600 cabinets with retail partners including Tesco, Centre Parcs and Costco. Since its launch the brand has opened Hotlight stores in Bristol, Birmingham, Bluewater, Edinburgh, Enfield, Gateshead, Leeds, Manchester, Slough, and Shannon Corner.
Krispy Kreme UK can be found at www.krispykreme.co.uk / www.facebook.com/ krispykremeuk / @krispykremeUK