Curefoods Receives Pan-India Rights for Krispy Kreme
According to reports, Cloud kitchen startup Curefoods has acquired the pan-India rights for doughnut and coffee brand Krispy Kreme. The agreement also signifies Curefoods' foray into North India with Krispy Kreme, following its acquisition of seven retail outlets and four cloud kitchens in Delhi NCR.
Through this expansion, Curefoods currently runs more than 100 Krispy Kreme locations nationwide. In December of last year, it purchased the operations of Krispy Kreme in South and West India.
Krispy Kreme Inc, based in the US, operates in 40 nations through a network of doughnut stores, retail collaborations, and an online platform.
Ankit Nagori, Founder, Curefoods says, “With full national rights now under our umbrella, we are excited to build a unified strategy for brand growth, customer experience, and innovation across the country. Delhi NCR is the beginning, and we are committed to scaling Krispy Kreme in a way that’s sustainable, accessible, and exciting for our consumers.”
Curefoods also intends to broaden its footprint in other parts of the country, with a focus on western regions such as Mumbai.
Founded in 2020 by former Flipkart executive Nagori, Curefoods houses brands such as EatFit, Cakezone, Nomad Pizza, Sharief Bhai Biryani and Frozen Bottle. The Bengaluru-based company has over 500 cloud kitchens and offline stores in 40 cities.
Curefoods achieved a 53 percent increase in revenue for fiscal year 2024 and reduced its net loss to under half of what it had been the previous year.
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Reports indicate that the cloud kitchen industry grew at a compound annual growth rate (CAGR) of 30-40 percent from 2019 to 2024. The segment is projected to expand at a CAGR of 35 percent during the upcoming four years.