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Krispy Kreme CEO discusses earnings, global expansion, pricing, strategy, and partnerships

The CEO of Krispy Kreme has recently sat down to discuss the company’s earnings, plans for global expansion, pricing strategies, as well as various partnership opportunities. This informative interview provides a glimpse into the inner workings of the iconic doughnut chain and gives insight into their plans for the future. Join us as we explore the key takeaways from this exclusive conversation with Krispy Kreme’s top executive. #youtube #yahoofinance #stockmarket This segment originally aired on May 11, 2023. Krispy Kreme CEO Mike Tattersfield joins Yahoo Finance Live’s Seana Smith and Brooke DiPalma to discuss the performance of Krispy Kreme stock on Q1 beat, consumer demand, the company’s long-term growth strategy, and its partnership with McDonald’s. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp Connect with Yahoo Finance: Get the latest news: https://yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV Introduction: Krispy Kreme, the iconic doughnut chain, recently released its fourth-quarter earnings report. The company has been expanding globally and implementing new pricing strategies to meet the evolving demands of consumers. We sat down with the Krispy Kreme CEO to discuss the company’s earnings, global expansion, pricing, strategy, and partnerships. Earnings: Krispy Kreme has seen an increase in revenue in the fourth quarter, with sales up by 3.1%. The company’s net income has also seen an increase of 3.9%, surpassing analyst expectations. The CEO attributes this increase to the company’s effective marketing campaigns, partnerships, and expansion efforts. Global Expansion: Krispy Kreme plans to continue its expansion efforts globally, with a focus on the Asia-Pacific region. The company recently opened its 1000th store globally, and plans to open another 220 stores over the next five years. The CEO states that the company’s expansion strategy includes finding the right local partners and customizing menu offerings to meet local tastes. Pricing: Krispy Kreme has implemented new pricing strategies to remain competitive in the market. The CEO states that the company has focused on offering value to customers while also maintaining profitability. This includes offering promotional deals, such as a dozen doughnuts for a discounted price, and introducing premium menu items at a higher price point. Strategy: Krispy Kreme has always been known for its classic glazed doughnuts, but the company understands the importance of innovation to stay relevant. The CEO discusses the company’s strategy of introducing new, unique menu items that still maintain the Krispy Kreme brand identity. This includes introducing seasonal flavors and collaborating with other brands, such as Nutella and Oreo. Partnerships: Krispy Kreme has entered into partnerships with various companies, including convenience store chain 7-Eleven and snack company Mondelez. The CEO discusses how these partnerships have helped increase brand awareness and drive sales. The company plans to continue exploring strategic partnerships in the future. FAQs: - Does Krispy Kreme have plans to expand to other regions besides the Asia-Pacific? - While the Asia-Pacific region is currently the focus of the company’s expansion efforts, Krispy Kreme is always exploring new markets to enter. - How does Krispy Kreme decide on new menu items? - The company conducts research on consumer preferences and collaborates with its culinary team to create innovative menu items while still maintaining the Krispy Kreme brand identity. - Will Krispy Kreme continue to offer promotional deals? - Yes, Krispy Kreme understands the importance of offering value to customers and plans to continue offering promotional deals. - How does Krispy Kreme maintain its quality standards with its global expansion efforts? - The company has a rigorous quality control process in place, with a strong focus on training and ensuring consistency across all stores. - Does Krispy Kreme have plans to introduce more collaborations with other brands? - Yes, the company believes that collaborations with other brands can help increase brand awareness and attract new customers, and plans to explore more partnerships in the future. Conclusion: Krispy Kreme’s earnings report and expansion efforts demonstrate the company’s ability to adapt to the evolving demands of consumers. The company’s innovative menu items and strategic partnerships have helped increase brand awareness and drive sales. As Krispy Kreme continues to grow globally, it will remain focused on maintaining its high-quality standards and delivering value to customers. Read the full article

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26 Year-Old Starts a Sneaker Reselling Business

Introducing the inspiring story of a young entrepreneur who decided to turn his passion for sneaker collecting into a profitable business venture. At just 26 years of age, he decided to take the leap and start his own sneaker reselling business. His journey proves that with determination, hard work, and a strong business plan, anyone can turn their hobbies into a successful career. Join us as we delve into the strategies, challenges, and lessons learned from this impressive young sneaker reseller. Sneak City started in a garage. Now, they bring in more than $400,000 a month across their online store and two brick-and-mortar locations. Find out how they started a profitable sneaker reselling business in this interview. This video has been sponsored by TailorBrands. Get your LLC for your business and more with Tailor Brands: https://bit.ly/tailor-brands-offer Tia started reselling sneakers and clothes she bought in thrift stores for some extra cash in college. She quickly realized the high demand and profit potential and started growing the business, first with a Shopify store and then into their first brick-and-mortar. Now they have a team to help run their stores. We’ll find out how they built that team and how Tia and Anastasia’s role in the business has changed as it’s grown. The key to this growth is also the industry’s biggest challenge: buying sneakers can be expensive. Tia and Anastasia explain how they keep inventory costs low so they can make up to 30% margins on each sale. You’ll also hear the key skills to open a sneaker reselling business and how those have helped Sneak City grow so quickly, along with some tips for how to get started if you don’t have a lot of cash on hand. Once you have shoes to resell, the next step is getting them to buyers. We’ll learn how Sneak City uses its 100,000 YouTube subscribers and other social media platforms to attract and engage with customers. It also helps to have a brick-and-mortar with lots of foot traffic, and you’ll hear how that influenced where they opened their second location and the value of a physical space for a reselling business. If you like this interview and want to hear from other entrepreneurs in the clothing industry, check out some of our past videos: Opening a $102K/Month Boutique Business (See What It Takes) ► https://www.youtube.com/watch?v=_wUc28d8KkE How to Start a $120K/Month Clothing Line (On a Shoestring Budget) ► https://www.youtube.com/watch?v=xcPqw952Xm8 Resources https://www.thesneakcity.com/ – Learn more about Sneak City at their website https://bit.ly/tailor-brands-offer – Get your LLC for your business and more with Tailor Brands https://www.upflip.com/podcast – Hear more interviews with business owners and experts at the UpFlip podcast https://www.upflip.com/blog – The UpFlip Blog, a great source for actionable advice on starting or growing a business https://www.upflip.com/courses – Check out our business courses taught by real entrepreneurs Timestamps: 00:00 – START 00:45 – Meeting Tia and Anastasia 02:04 – Personal sneaker collection 03:17 – New location tour 04:16 – Getting started 05:04 – Skills you need 05:35 – Tour of headquarters 06:32 – Store layout 08:17 – Drivers of their success 08:58 – Team and management 10:42 – Talking numbers 10:54 – Overhead costs 11:17 – Online vs. retail sales 11:54 – Reseller niches 12:28 – Using YouTube to grow a business 14:06 – Other social media 14:56 – Where to get reselling inventory 15:40 – Online store platform 16:29 – Fan blitz 17:39 – Value of brick-and-mortar 19:03 – Business mistakes 20:08 – Buying shoes to resell 22:44 – Employees and team 23:30 – Evaluating inventory 25:47 – Managing workflow 27:09 – Challenges 27:39 – Outro #sneakers #sneakerreselling #howtoresellsneakers

Introduction

Sneaker reselling has grown into a billion-dollar industry in recent years. The increasing demand for limited-edition and exclusive sneakers has created a market for sneaker enthusiasts to not only collect shoes but also make a profit from reselling them. Anyone can start a sneaker reselling business, regardless of their age, education, or background. Take, for example, 26-year-old Justin, who turned his passion for sneakers into a successful business venture.

Justin’s Story

At the age of 18, Justin, a self-proclaimed sneakerhead, began collecting sneakers. Over the years, he accumulated a vast collection of limited-edition and vintage sneakers. One day, while browsing through online sneaker marketplaces, Justin noticed that some of the rare sneakers he had in his collection were selling for double or triple their original market value. This sparked an idea in Justin’s mind, and he decided to turn his sneaker collection into a profit-making business.

How Justin Started His Business

Justin started his sneaker reselling business from his bedroom, using only his laptop and his cellphone. He began by selling his personal collection of sneakers to buyers online. Initially, he struggled to find buyers for his shoes, but he persevered. He posted his sneakers on various online marketplaces, promoted them on social media, and eventually built a small customer base.

Justin’s Business Model

As Justin’s business grew, he began to develop a business model that worked for him. He primarily focused on buying limited-edition and exclusive sneakers from various retailers and reselling them to customers at a higher price. He would also purchase shoes from individual collectors and resell them for a profit. Justin researched the sneaker market extensively, following trends and analyzing data to determine which sneakers were popular and which ones were not. He attended sneaker conventions and met with other sneaker enthusiasts to build connections in the industry.

Scaling Up

Justin’s business picked up, and he decided to scale up his operations. He rented a small warehouse where he could store his sneakers and manage his orders more efficiently. He hired a small team to help him with packaging and shipping. He also invested in marketing his business by designing custom packaging and creating a website to promote his brand.

Challenges Faced By Justin

Starting a sneaker reselling business was not without its challenges. Justin faced stiff competition from other resellers, who often had established connections with retailers and the infrastructure to scale up their operations quickly. Justin had to work extra hard to build his network and establish his brand in the industry. He also faced issues with counterfeit sneakers and had to learn how to spot fake shoes to avoid getting cheated.

Justin’s Successes

Despite these challenges, Justin’s business began to thrive. He made a name for himself in the sneaker industry, and his business became one of the most reputable sneaker reselling businesses in the market. He was invited to speak at sneaker conventions and was featured in several online publications. His business revenue continued to grow, and he now has customers from all over the world.

FAQ

- How much profit can you make from a sneaker reselling business? A: The profit margin of a sneaker reselling business can vary depending on the type of sneakers being sold. Some limited-edition sneakers can sell for hundreds or even thousands of dollars, thereby generating a substantial profit margin for resellers. - How can you spot fake sneakers? A: To spot fake sneakers, examine the stitching, material, and logo of the shoe. Seek out any telltale signs of counterfeit products such as sloppy stitching, incorrect sizing, and inconsistencies in the logo design. - Do you need a lot of capital to start a sneaker reselling business? A: No, you do not need a lot of capital to start a sneaker reselling business. You can start by selling your personal collection of sneakers and gradually build up your inventory as you make more sales. - Is sneaker reselling legal? A: Yes, sneaker reselling is legal in most countries. However, some retailers have strict policies regarding the purchase and resale of their products, and it is essential to familiarize yourself with these before starting a sneaker reselling business. - Can anyone start a sneaker reselling business? A: Yes, anyone can start a sneaker reselling business. All you need is a passion for sneakers, the willingness to learn about the sneaker market, and the patience to develop your brand gradually.

Conclusion

Starting a sneaker reselling business can be a lucrative venture for anyone who has a passion for sneakers. Justin’s story shows that with dedication, hard work, and determination, anyone can make their dreams a reality. With the right business model, networking, and marketing strategies, you can turn your passion for sneakers into a successful business venture. Read the full article