U.S. retailer Krispy Kreme Doughnuts Inc said Citymax, its partner for southern and western Indian markets, will invest 750 million Indian rupees ($13.5 million) to set up 80 stores over five years.
The doughnut and coffee retailer, will open its first store in Bangalore in 2012, James Rogers, vice-president, international marketing, Krispy Kreme told reporters on Wednesday.
Krispy Kreme did not give details of its expansion plans with its other Indian franchisee partner Bedrock Food.
