History of Krispy Kreme in Timeline

Krispy Kreme is an American doughnut company and coffeehouse chain founded in 1937 by Vernon Rudolph in Winston-Salem, North Carolina. Rudolph bought a yeast-raised recipe from a New Orleans chef. The company experienced steady growth, followed by an ambitious but ultimately unprofitable expansion as a public company from 2000 to 2016. In 2016, it returned to private ownership under JAB Holding Company. It became publicly traded again in July 2021. The brand name, a deliberate misspelling of "crispy cream", is a marketing tactic.

1915: Vernon Rudolph's birth

In 1915, Vernon Rudolph, the founder of Krispy Kreme, was born. He would later buy a yeast-raised recipe and start the Krispy Kreme company.

1933: Vernon Rudolph starts working for his uncle

In 1933, Vernon Rudolph began working for his uncle Ishmael Armstrong, who owned a general store in Paducah, Kentucky, selling various goods, including popular doughnuts.

1934: Move to Nashville

In 1934, Vernon and Ishmael moved to Nashville, Tennessee, to improve their doughnut business, focusing solely on selling doughnuts.

1937: Krispy Kreme Founded

In 1937, Vernon Rudolph founded Krispy Kreme in Winston-Salem, North Carolina. He rented a building and began selling doughnuts to local grocery stores.

1937: Rudolph Opens His Own Store

In 1937, Vernon Rudolph opened his own Krispy Kreme store in Winston-Salem, North Carolina, selling primarily to convenience stores but also directly to customers during production hours.

1939: First Krispy Kreme bakery outside the South opened

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

1973: Death of Vernon Rudolph

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 of Chicago, Illinois.

1982: Franchisees Repurchase Krispy Kreme

In 1982, a group of franchisees purchased Krispy Kreme Doughnut Corporation back from Beatrice Foods.

April 5, 2000: Krispy Kreme Goes Public on NASDAQ

On April 5, 2000, Krispy Kreme went public on the NASDAQ at $21 per share, using the ticker symbol KREM.

2000: Krispy Kreme Goes Public

In 2000, Krispy Kreme became a public company and started trading on the NASDAQ.

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

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

December 2001: First Krispy Kreme Store Outside the US

In December 2001, Krispy Kreme opened its first store outside the US 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, representing a 135% gain from its IPO price.

2003: Profits from KKM&D Division

In 2003, Krispy Kreme profited significantly from its Krispy Kreme Manufacturing and Distribution (KKM&D) division, which required franchisees to purchase mix and doughnut-making equipment from them.

2003: Rapid Expansion Criticized

In 2003, analysts suggested that Krispy Kreme's CEO had expanded the chain too rapidly after the IPO, over-saturating certain markets and reducing the profitability of individual franchisees.

February 2004: Fiscal Year Sales Reported

For the fiscal year ending in February 2004, Krispy Kreme reported sales of $665.6 million and operating profits of $94.7 million from nearly 400 stores, including international locations.

May 2004: Company Misses Quarterly Estimates

In May 2004, Krispy Kreme missed quarterly estimates for the first time and suffered its first loss as a public company. CEO Scott Livengood blamed the low-carbohydrate diet craze.

December 16, 2004: First Store Opens in South Korea

On December 16, 2004, Krispy Kreme opened their first store 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 at Krispy Kreme, although it did not find evidence of intentional fraud.

December 2005: Turnaround Plan Announced

In December 2005, Krispy Kreme announced a turnaround plan aimed at closing unprofitable stores to avoid bankruptcy after the company's stock lost a significant portion of its value.

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 engaging in illicit activities, leading to a reduction in net income by over $10.5 million.

2010: Krispy Kreme Express Testing Begins

In 2010, Krispy Kreme Express, a delivery service for businesses, began testing in Greensboro, North Carolina.

June 2011: Harrods Store Closes

In June 2011, the Krispy Kreme store located 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 stores from 21 to 94, and the Mexican operation announced an increase from 58 to 128 stores in five years.

2012: Expansion Plans in the United Kingdom

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

January 19, 2013: First Store Opens in India

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

September 25, 2013: Opening of 25 stores in Colombia

On September 25, 2013, Krispy Kreme announced the opening of 25 stores, all within 5 years, in Colombia, marking the first South American country for the company.

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

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

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

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

October 2014: Store opening in Bogotá and Chía, Colombia

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

December 16, 2014: 100th store opens in South Korea

On December 16, 2014, Krispy Kreme celebrated their 100th store opening in South Korea.

February 24, 2015: Krispy Kreme Opens 1,000th Shop

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 made an offer to purchase Krispy Kreme for $1.35 billion.

July 27, 2016: Transaction with JAB Holding Closes

On July 27, 2016, the transaction with JAB Holding Company closed, taking Krispy Kreme private.

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 returned to private ownership under JAB Holding Company, a private firm based in Luxembourg.

December 2017: Krispy Kreme Moves Headquarters 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: Krispy Kreme Presence in the UK

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

2018: Krispy Kreme Acquires Insomnia Cookies

In 2018, Krispy Kreme acquired the bakery chain Insomnia Cookies for $175 million, which continues to operate independently.

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 available 24 hours a day.

May 2021: Files for IPO

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

July 1, 2021: Krispy Kreme Goes Public Again

On July 1, 2021, Krispy Kreme went public again on the Nasdaq, under the name Krispy Kreme Inc.

July 2021: Krispy Kreme Goes Public Again

In July 2021, Krispy Kreme became publicly traded again on the Nasdaq.

2022: New Sales Models Introduced

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

2023: Krispy Kreme Donuts Sold at 14,000 Different Points

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

March 26, 2024: Partnership Announced with McDonald's

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.