(Updates with CEO’s comments in second paragraph.)
Dec. 15 (Bloomberg) -- Dunkin’ Brands Group Inc., operator of the namesake coffee shops, opened its 10,000th global Dunkin’ Donuts location today as it accelerates growth in China.
There is a “huge opportunity” in the Asian nation, Chief Executive Officer Nigel Travis said in an interview today after announcing the opening of the cafe in Xi’an.
Dunkin’ Donuts, which has about 7,000 U.S. shops, will boost its overseas store count to 10,000 from about 3,000, he said, while declining to specify a time period. Dunkin’ has more than 80 stores in China, compared with about 500 Starbucks Corp. cafes.
“We will grow faster internationally than domestically,” Travis said.
Dunkin’ Brands, which raised $486 million in an initial public offering in July after its underwriters exercised an option to buy more shares, has sought to increase global store openings to compete with Starbucks and McDonald’s Corp. Canton, Massachusetts-based Dunkin’ said earlier this year it will open more than 500 locations in India during the next 15 years.
In China, Dunkin’ is introducing savory bagels with toppings such as spinach, roasted red peppers and garlic mayonnaise to sell during the after-lunch period, Travis said. In Asian nations, “breakfast isn’t the biggest focus for us, it’s the afternoon snacking,” he said.
Travis said in November that the company will open as many as 240 Dunkin’ shops this year in the U.S. and plans to more than double its U.S. store count to 15,000 in the next 20 years. McDonald’s has about 14,000 U.S. locations.
Dunkin’, which sells single-serve capsules that fit in Green Mountain Coffee Roasters Inc.’s Keurig machines, is “completely on track” with K-Cup sales and will be introducing new flavors for the pods, he said.
There are more than 16,500 Dunkin’ Donuts and Baskin- Robbins restaurants in 56 countries.
--Editors: Kevin Orland, James Callan
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