History of Krispy Kreme in Timeline

Krispy Kreme is an American multinational doughnut company and coffeehouse chain founded in 1937 by Vernon Rudolph in Winston-Salem, North Carolina. Rudolph purchased a yeast-raised recipe from a New Orleans chef and started selling doughnuts to local grocery stores. After a period of steady growth, Krispy Kreme expanded ambitiously as a public company between 2000 and 2016, ultimately becoming unprofitable. In 2016, the company returned to private ownership under JAB Holding Company, a Luxembourg-based firm, before becoming publicly traded again on the Nasdaq in July 2021. The name "Krispy Kreme" is intentionally misspelled for marketing purposes.

1915: Vernon Rudolph Born

In 1915, Vernon Rudolph, the founder of Krispy Kreme, was born.

1933: Vernon Rudolph Starts Working at General Store

In 1933, Vernon Rudolph began working for his uncle Ishmael Armstrong's general store in Paducah, Kentucky, which sold popular doughnuts.

1934: Move to Nashville

In 1934, Vernon and Ishmael moved to Nashville, Tennessee, focusing on selling doughnuts and opening "The Krispy Kreme Doughnut Company".

1937: Krispy Kreme Founded

In 1937, Vernon Rudolph established Krispy Kreme in Winston-Salem, North Carolina, purchasing a yeast-raised recipe and selling doughnuts to local grocery stores.

1937: Rudolph Opens Own Store

In 1937, Vernon Rudolph opened his own Krispy Kreme store in Winston-Salem, North Carolina, selling doughnuts to convenience stores and individual customers.

1939: First Krispy Kreme Bakery Outside the South Opens

In 1939, the first Krispy Kreme bakery outside the South opened in Akron, Ohio.

1973: Vernon Rudolph's Death

In 1973, Vernon Rudolph, the founder of Krispy Kreme, passed away.

1976: Krispy Kreme Becomes Subsidiary of Beatrice Foods

In 1976, Krispy Kreme Doughnut Corporation became a wholly-owned subsidiary of Beatrice Foods.

1982: Franchisees Purchase Corporation Back

In 1982, a group of franchisees repurchased Krispy Kreme from Beatrice Foods.

April 5, 2000: Krispy Kreme Goes Public on NASDAQ

On April 5, 2000, Krispy Kreme became a publicly traded company and was listed on the NASDAQ at $21 per share, using the stock ticker symbol KREM.

2000: Krispy Kreme Goes Public

In 2000, Krispy Kreme became a public company, marking an ambitious expansion phase.

May 17, 2001: Krispy Kreme Switches to New York Stock Exchange

On May 17, 2001, Krispy Kreme transitioned to the New York Stock Exchange with the ticker symbol KKD.

December 2001: First Store Outside the US Opens

In December 2001, Krispy Kreme opened its first store outside the US, located in Mississauga, Ontario, Canada.

August 2003: Stock Reaches All-Time High

In August 2003, Krispy Kreme's stock reached its all-time high of $50 on the New York Stock Exchange.

2003: Profits from Franchisee Purchases

In 2003, Krispy Kreme Manufacturing and Distribution (KKM&D) earned $152.7 million, which made up 31% of sales, by requiring franchisees to purchase mix and doughnut-making equipment from them.

2003: Rapid Expansion and Market Saturation

In 2003, Krispy Kreme's rapid expansion, while initially growing revenues, reduced the profitability of individual franchisees due to market saturation. For the 2003-04 fiscal year, the parent company enjoyed a 15% increase in second-quarter revenues, but same-store sales only increased a tenth of a percent.

February 2004: Company Reports High Sales and Profits

For the fiscal year ending in February 2004, Krispy Kreme reported sales of $665.6 million and operating profits of $94.7 million.

May 2004: Company Misses Quarterly Estimates and Suffers First Loss

In May 2004, Krispy Kreme missed quarterly estimates for the first time and suffered its first loss as a public company.

December 16, 2004: First Store Opened in South Korea

On December 16, 2004, Krispy Kreme's first store opened in South Korea.

August 2005: Report Blames Executives for Accounting Scandals

In August 2005, a report singled out then-CEO Scott Livengood and then-COO John W. Tate for blame in the accounting scandals, though it did not find intentional fraud.

December 2005: Turnaround Plan Initiated

In December 2005, Krispy Kreme implemented a turnaround plan to close unprofitable stores in an effort to avoid bankruptcy.

March 4, 2009: SEC Issues Cease and Desist Order

On March 4, 2009, the SEC issued a cease and desist order against Krispy Kreme for inflating revenues and illicit activities regarding the purchasing of its own stores.

2010: Krispy Kreme Express Testing Begins

In 2010, Krispy Kreme Express, a delivery service for businesses, began testing at the Battleground Avenue location in Greensboro, North Carolina.

June 2011: Harrods Department Store Location Closes

In June 2011, the Krispy Kreme location in Harrods department store in London closed.

August 2011: Expansion Plans in Japan and Mexico

In August 2011, Krispy Kreme's Japanese operation planned to increase the number of stores from 21 to 94, and its Mexican operation announced the number of stores would increase from 58 to 128 in five years.

2012: Expansion Plans in the United Kingdom

In 2012, Krispy Kreme in the United Kingdom continued its expansion and had plans and funding in place to open further stores.

January 19, 2013: First Store Opened in India

On January 19, 2013, Krispy Kreme opened its first store in India, located in Bangalore, Karnataka.

September 25, 2013: Krispy Kreme Announces Opening of Stores in Colombia

On September 25, 2013, Krispy Kreme announced the opening of 25 stores in Colombia, marking its entry into South America.

December 12, 2013: First Store Opened in Taipei, Taiwan

On December 12, 2013, Krispy Kreme opened its first store in Taipei, Taiwan.

July 23, 2014: First Store Launched in Chennai, India

On July 23, 2014, Krispy Kreme launched its first shop in Chennai, India, at Express Avenue mall.

October 2014: Opened Another Store at Colombia

In October 2014, Krispy Kreme opened another store in Colombia at Bogotá and Chía, Cundinamarca.

December 16, 2014: Celebrated Their 100th Store Opening in South Korea

On December 16, 2014, Krispy Kreme celebrated their 100th store opening in South Korea, exactly ten years after opening the first store.

February 24, 2015: 1,000th Shop Opens

On February 24, 2015, Krispy Kreme opened its 1,000th shop in Kansas City, Kansas.

May 2016: JAB Holding Company Offers to Purchase Krispy Kreme

In May 2016, JAB Holding Company offered to purchase Krispy Kreme for $1.35 billion to make it privately owned.

July 27, 2016: Transaction Closes

On July 27, 2016, the transaction of JAB Holding Company purchasing Krispy Kreme closed and the company became privately owned.

September 2016: Most Stores in the Asia-Pacific Region

As of September 2016, Krispy Kreme held the most stores in the Asia-Pacific region with 129 stores.

2016: Krispy Kreme Returns to Private Ownership

In 2016, Krispy Kreme transitioned back to private ownership under JAB Holding Company.

December 2017: Corporate Headquarters Move to Charlotte

In December 2017, Krispy Kreme moved its corporate headquarters to Charlotte, North Carolina, while Winston-Salem retained operational departments and the Krispy Kreme Support Center.

2018: UK Store Expansion

As of 2018, there are over 100 stand alone Krispy Kreme stores in the UK, and a presence in 500 Tesco stores.

2018: Krispy Kreme Acquires Insomnia Cookies

In 2018, Krispy Kreme acquired bakery chain Insomnia Cookies.

August 25, 2020: First Krispy Kreme Vending Machine Launched

On August 25, 2020, the first Krispy Kreme vending machine was launched in North Carolina, featuring 3-packs of doughnuts.

May 2021: Filed for Initial Public Offering

In May 2021, Krispy Kreme confidentially filed for an initial public offering to once again go public.

July 1, 2021: Krispy Kreme Goes Public Again

On July 1, 2021, Krispy Kreme became a public company again on the Nasdaq, operating under the name Krispy Kreme Inc.

July 2021: Krispy Kreme Becomes Publicly Traded Again

In July 2021, Krispy Kreme was once again publicly traded on the Nasdaq exchange.

2022: New Sales Models Introduced

In 2022, Krispy Kreme began operating new "hub and spoke" sales models to distribute donuts to more access points like convenience and grocery stores and McDonald's restaurants.

2023: Expanded Distribution Points

At the end of 2023 Krispy Kreme had reached 14,000 different points where its donuts are sold.

March 26, 2024: Partnership with McDonald's Announced

On March 26, 2024, Krispy Kreme and McDonald's announced a partnership where Krispy Kreme doughnuts would be rolled out to all McDonald's locations nationwide by the end of 2026.