No holes barred as restaurateur expands (hktdc.com)


	Wayne Parfitt is further building his restaurant empire, with plans to open 20 Krispy Kreme outlets in five years

The Australian who won over Hongkongers to the concept of pizza and pasta is about to serve up his next course – Krispy Kreme donuts.

Restaurateur Wayne Parfitt and his brother Brian have been awarded the Hong Kong and Macau development rights for the iconic American sweet treat. They intend to open 20 outlets in five years, before venturing into the Chinese mainland.

Hong Kong’s first Krispy Kreme store opens in August in Lee Gardens, Causeway Bay, to be quickly followed by others in key locations of Tsim Sha Tsui and Soho. "We are opening in areas where we can get instant brand recognition, and then moving to the outer areas," explained Mr Parfitt.

To the man who has built a culinary empire from a single pizza shop in little over a decade, the idea of knocking Hong Kong’s own iconic sweet treat, the famed egg tart, off its perch is not in the least bit daunting. "I think we will give egg tarts a huge run for their money," he said.

Entrepreneurs thrive

Mr Parfitt set up his first restaurant, Pepperonis in Sai Kung, on a shoestring budget in 1992. He had worked in the city for just one year beforehand, but quickly spotted Hong Kong as "the greatest place in the world for anyone with entrepreneurial flair and a limited amount of money”.

At first, the only employees were himself, his wife, and a cook. Hong Kong’s internationality and cultural diversity soon had patrons coming back for more, and thus began a rapid expansion that has led to 28 restaurants in two countries (Hong Kong and Vietnam), employing 1,500 staff.

As it has grown, the business has also diversified. Krispy Kreme is just the latest in a brand portfolio that includes Pepperonis, Jaspers and Cru restaurants in Hong Kong, and Alfrescos and Papa Joes Coffee Shops in Vietnam. The business also incorporates the successful Jaspers party junks in Hong Kong, and he is in negotiations to breed beef cattle in Vietnam.

Mr Parfitt says the opportunities in Asia are "fantastic" and Hong Kong the ideal place for reaching out to new markets. "Hong Kong is the middle of the world," he says. "You couldn’t want to be in a better spot."

Brand exposure

"The great thing about Hong Kong is it is such an international city. You get an international flow daily, so you have instant brand recognition." If a product was launched in Beijing or Shanghai, he said, that recognition would be reduced.

People also look to Hong Kong as a trend-setter, Mr Parfitt added. "Brands that are successful here soon filter into the Chinese mainland."

Krispy Kreme, he says, will be a success in Hong Kong because it provides a show (customers can watch the donuts being made), they’re affordable, and "it’s a great product". With the Pepperonis formula at work, providing "modern Australian food with a very laid-back management style," it seems Hong Kong consumers are in for another Parfitt-inspired culinary treat.