84 Years of Glazed Goodness

Krispy Kreme, one of America’s largest doughnut chains, is celebrating their 84^th birthday. The chain’s longevity is worthy of praise, however there is something extra to celebrate this year. The company has thrived during a pandemic that closed many restaurants down and it has successfully launched an IPO this year. To recognize the occasion, the company is offering a dozen glazed doughnuts for a $1 with the purchase of a dozen.

Krispy Kreme was able to increase their revenue during a time which caused the opposite for competitors. Part of the company’s success is likely due to their streamlined service model that was tailor made for a pandemic. Many Krispy Kreme locations already featured a drive thru and boxed doughnuts were an easy pick up for third party delivery services. Krispy Kreme stores also run on a tight schedule and food is not traditionally made to order which allows for lower staffing during business hours. The company also uses a very small subset of ingredients for their products which helped them avoid the supply chain issues that plagued the industry. Their simple menu gave them an edge on other quick service chains that had cut menu items and juggle complex orders.

In 2021 Krispy Kreme took their success and decided to go public. This will be the chain’s second stint as a public company after being purchased in 2016. Krispy Kreme joins a long line of companies like DoorDash and Airbnb that had success during the and decided to go public. The company opened at $17 a share which was considerably short of their $21 per share plan; however, they still managed to raise over $500 million. For years the company has been dumping their revenue back into their stores and all of that internal improvement appears to be paying off. The restaurant industry has been moving towards healthier options and more diverse menus in recent years; however, Krispy Kreme is looking to buck that trend by doubling down on their iconic brand and unique products.