Krispy Kreme sold 1.63 billion doughnuts globally in 2022. That grew the company’s revenue by 9%, to $404.6 million. The company relies on a "hub-and-spoke" system, where hub locations make the doughnuts and deliver them fresh to locations such as grocery stores. During the holiday season, that growth grew to 15%. Krispy Kreme also owns Insomnia Cookies, which had 24% revenue growth in 2022 with average annual sales of $850,000 per store. Success is sweet for this donut giant.
Krispy Kreme has been delivering doughnuts from hub shops daily to grocers, convenience stores and pharmacies and is experimenting with sales at McDonald’s. But Krispy Kreme has questions regarding "how our brand also works with another brand." Though Dunkin’ has more U.S. stores, Krispy Kreme ran second in customers in 2020. This success comes from strategic business decisions regarding store locations and product delivery.
Krispy Kreme has a strong brand presence and doughnuts are associated with special occasions and indulgent treats. These impressive figures didn’t happen by accident.