Dunkin' Donuts Announces Massive China Expansion Plans
1,400 stores to be opened across China.
Dunkin' Donuts have announced the largest development agreement in their history, which will see up to 1,400 Dunkin' Donuts opened throughout China over the next 20 years.
To achieve their plans, Dunkin's have entered a master franchise agreement with Golden Cup Pte. Ltd, which is a joint venture between Jollibee Worldwide Pte Ltd and Jasmine Asset Holding Ltd (itself a subsidiary of RRJ Capital), both of whom have significant experience in the food sector.
The Chinese stores will feature the familiar Dunkin' Donuts menu of hot drinks, donuts and muffins, but will also include items tailored to the local market, such as Mochi Ring Donuts.
Speaking of the announcement, Nigel Travis, Chairman and CEO of Dunkin' Brands said "We are delighted to enter into this relationship with Jollibee and RRJ, a group with a proven track record of success... in China and a deep knowledge of the consumer".
Tony Tan Caktiong, Chairman of Jollibee Worldwide Pte Ltd added "We are excited at the prospect of bringing Dunkin' Donuts to China... The China market offers a tremendous opportunity as its consumer base continues to grow in number and spending power".
