The American cookie concept, founded in 2003, currently has 231 shops across the US and aims to ramp up to 100 new openings per year – up from 20 openings currently. It will also launch in Canada within the year.
Insomnia Cookies stores, typically based near college campuses, stay open until 3 a.m. Speaking on an investor call in November, Krispy Kreme CEO Mike Tattersfield said the concept has experienced success beyond campuses and urban markets, in select suburban locations.
Tattersfield further said the existing estate has seen strong sales growth, largely due to success in the digital e-commerce side of the business.
In December, Krispy Kreme has further said it is capable of reaching 75,000 points of access worldwide, up from 11,837 currently. It plans to launch in five to seven countries, including France, in 2023, bringing its presence to c35 countries within the year.
“We truly believe Insomnia Cookies will be the next Krispy Kreme,” CEO Mike Tattersfield said during Krispy Kreme’s Q4 and full-year earnings call.
