Krispy Kreme, founded by Vernon Rudolph, started in 1937 in Winston-Salem, North Carolina. After a period of growth and expansion, the company went public in 2000 but later returned to private ownership in 2016 under JAB Holding Company. In 2021, Krispy Kreme went public again on the Nasdaq. The name 'Krispy Kreme' is a creative play on 'crispy cream'.
In 1933, Vernon Rudolph purchased a donut shop in Kentucky along with a secret recipe for yeast-raised donuts from a French chef.
In 1934, Vernon Rudolph and Ishmael Armstrong decided to move to Nashville, Tennessee, where they opened 'The Krispy Kreme Doughnut Company' and focused solely on selling their doughnuts.
On May 20, 1935, Vernon Rudolph moved his donut business to Nashville, Tennessee.
In 1936, Rudolph's father opened another Krispy Kreme shop in Charleston, West Virginia, due to the success of the business.
Vernon Rudolph, along with two others, founded Krispy Kreme in Winston-Salem, North Carolina. They started by making yeast doughnuts of high quality, which quickly became popular among the locals. The company initially focused on wholesale operations but later expanded to include retail sales.
In October 1937, Vernon Rudolph opened his own shop in Winston-Salem, North Carolina, marking a new beginning for his business.
In 1939, Krispy Kreme opened its first bakery outside the South in Akron, Ohio, marking a significant expansion for the company.
In 1943, Vernon Rudolph and his wife adopted a baby girl named Patricia Ann.
In 1944, Ruth Ayers Rudolph, Vernon Rudolph's wife, tragically passed away in a car accident in Orangeburg, South Carolina.
On October 1, 1946, the Krispy Kreme Doughnut Company was established by Vernon Rudolph to consolidate all resources under a corporation.
Less than a year later, on June 3, 1947, the Krispy Kreme Corporation was incorporated to handle the production of dry mixes for the shops.
In 1948, Krispy Kreme established the Mix Department, which played a crucial role in providing key ingredients for making doughnuts and other products, ensuring consistency across all stores.
In 1949, Krispy Kreme set up the Laboratory to test ingredients and improve product quality, aligning with Vernon Rudolph's commitment to excellence and consistency.
In 1951, Joseph A. McAleer, Sr., an Alabama native, joined the Krispy Kreme Doughnut Corporation after seeing an advertisement in the Mobile Press Register. He worked at the Pensacola, Florida store for $1 per hour to learn all aspects of the shop's operations.
A draft report from 1952 detailing Krispy Kreme's mix plant operations, including equipment list, cost controls, and store openings chronology.
In 1953, McAleer started his own shop in Pritchard, Alabama after working long hours for over a year. Unfortunately, his first attempt was unsuccessful due to a poor location.
In 1956, McAleer opened another shop in Mobile, this time off a busy street, which turned out to be successful. This marked a positive turn in his entrepreneurial journey.
An exterior addition was made to a Krispy Kreme location in South Carolina in 1961.
A photo album created in 1962 as a Christmas gift to Vernon Rudolph from the Corporate staff and associates. It contains photographs of staff members, group shots at annual meetings, shop storefronts, and views of the corporate headquarters.
On April 6, 1973, Krispy Kreme mourned the loss of their founder, Vernon Rudolph.
Vernon Rudolph, the founder of Krispy Kreme, passed away on August 16, 1973. His death left a significant void in the company, and the years following were challenging for Krispy Kreme.
A retirement party held in 1974 for Mike Harding, Chairman of the Board and CEO, and Louise Joyner, editor of the Krispy Kreme News. The event was documented with photographs.
Vernon Rudolph, the founder of Krispy Kreme Doughnuts, dies on June 2, 1976.
In 1981, Beatrice decided to sell its Krispy Kreme division due to lack of profitability. This move led to an opportunity for a long-time Krispy Kreme associate, Joseph A. McAleer, Sr., to bring the doughnut company back to its traditional roots.
In 1982, McAleer's efforts led to the formation of a group of investors who became the new owners of Krispy Kreme Doughnut Corporation. This marked a significant change in the company's ownership.
In 1990, a wedding cake was made for the wedding of headquarters accountant Cathy Rogers. The cake and the wedding were featured in the winter 1991 issue of Krispy Kreme News.
Davey Allison, a Krispy Kreme spokesman, participated in the Race to Daytona Sweepstakes in 1991. The event featured his race car and various advertising posters used in shops and grocery stores.
Beatrice Food Company acquires Krispy Kreme on October 20, 1995.
On June 26, 1996, Krispy Kreme expanded its presence by opening its first store in New York City.
The first Krispy Kreme store outside of the Southern United States is established in Indianapolis on October 26, 1996.
Photographs taken on May 28, 1997 by Smithsonian photographer Rich Strauss during a tour of the Corporation headquarters in Winston-Salem, NC. The photos include a view of the safe where the secret Krispy Kreme recipe is kept.
On July 17, 1997, the Krispy Kreme Doughnut Corporation donated a collection including correspondence, administrative records, photographs, and more to the National Museum of American History. This donation highlighted the history and impact of the company.
On August 6, 1997, Steve Cochran donated additional items to the National Museum of American History, contributing to the collection of materials related to Krispy Kreme Doughnut Corporation. This further enriched the archive.
New York City welcomes its first Krispy Kreme store on September 19, 1999.
On April 5, 2000, Krispy Kreme corporation went public on the NASDAQ at $21 per share with the ticker symbol KREM.
On May 17, 2001, Krispy Kreme switched to the New York Stock Exchange with the ticker symbol KKD, which it used until its private acquisition.
On December 19, 2001, Krispy Kreme opened its first store outside of the United States in Toronto, Canada.
In August 2003, Krispy Kreme's stock reached its all-time high of $50 on the New York Stock Exchange, marking a gain of 135 percent from its IPO price.
On December 16, 2014, Krispy Kreme celebrated the opening of its 100th store in South Korea, exactly ten years after the first store opened in 2004.
In December 2005, Krispy Kreme implemented a turnaround plan aimed at closing unprofitable stores to avoid bankruptcy.
In 2006, Krispy Kreme transitioned from informal advertising to television and radio commercials, initiating campaigns like 'Share the Love' with heart-shaped doughnuts to reach a wider audience.
On February 19, 2007, Krispy Kreme started selling the Whole Wheat Glazed doughnut to cater to health-conscious customers. It has similar calories to the original glazed donut but with more fiber content.
On March 4, 2009, the SEC issued a cease and desist order against Krispy Kreme for inflating revenues and engaging in illicit activities to boost earnings, resulting in a significant reduction in net income over two years.
On July 1, 2010, Krispy Kreme introduced a doughnut featuring Cheerwine, initially available in North and South Carolina. Due to its popularity, it was later sold in other locations as well.
In August 2011, Krispy Kreme announced plans to increase the number of stores in Japan to 94, in Mexico to 128, and continue expansion in the United Kingdom in 2012.
Krispy Kreme opened its first store in India on January 19, 2013, in Bangalore, Karnataka, operated by Citymax Hotels India under a franchise arrangement.
On September 25, 2013, Krispy Kreme announced the opening of 25 stores in Colombia within 5 years, marking the company's first venture into South America.
On July 23, 2014, Krispy Kreme launched its first shop in Chennai, India, at Express Avenue mall.
On February 24, 2015, Krispy Kreme opened its 1,000th shop in Kansas City, Kansas, marking a significant milestone for the company.
On May 18, 2015, Krispy Kreme signed a development agreement to open 31 shops in South Africa over the next five years, marking the company's first venture into Africa.
In May 2016, JAB Holding Company acquired Krispy Kreme for $1.35 billion, making the company privately owned. The transaction closed on July 27, 2016.
On November 5, 2016, Krispy Kreme opened its first store in Kópavogur, Iceland.
On January 12, 2017, Krispy Kreme opened its first store in Panama City, Panama.
On May 25, 2017, Krispy Kreme announced the launch of Jelly Belly jelly beans flavored like their donuts, offering a unique treat for customers.
On January 27, 2018, Krispy Kreme opened its first store in Guatemala City, Guatemala.
On February 28, 2018, Krispy Kreme opened its first store in Manukau, Auckland, New Zealand.
On March 10, 2018, Krispy Kreme opened its first store in Ikeja City Mall, Lagos, Nigeria.
On September 26, 2018, Krispy Kreme opened its first store in Dublin, Ireland, which has since become the most profitable store worldwide.
On August 5, 2019, Krispy Kreme unveiled new Reese's-branded 'chocolate lovers' and 'peanut butter lovers' doughnuts, expanding their range of offerings.
On August 25, 2020, Krispy Kreme launched its first vending machine in North Carolina, offering 3-packs of donuts available 24 hours a day, expanding its accessibility to customers.
Krispy Kreme's journey from a small shop in North Carolina to a popular doughnut chain with a dedicated fan base.
In May 2021, Krispy Kreme filed for an initial public offering and went public on the Nasdaq on July 1, 2021, under the name Krispy Kreme Inc., marking its return to the stock market.
On May 4, the company announced that it had confidentially submitted paperwork for an initial public offering.
On June 1, Krispy Kreme officially filed for the IPO with the Securities and Exchange Commission, stating that it would trade on the Nasdaq under the ticker DNUT.
On May 13, 2023, Krispy Kreme opened its first store in Costa Rica.
The national donut chain, Krispy Kreme, with nearly 400 stores nationwide, originated in Winston-Salem.