Krispy Kreme says Citymax to invest $13.5 mn to set up stores

U.S. retailer Krispy Kreme Doughnuts Inc said Citymax, its partner for southern and western Indian markets, will invest Rs 750 million s 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.