For the first time, sweets from 83-year-old doughnut chain Krispy Kreme will be available nationwide thanks to a new partnership with Walmart.
Boxes of the brand's Doughnut Bites and Mini Crullers hit shelves today and the company will hold of a virtual "grand opening," a new, socially-distanced take on the chain's traditional celebrations.
"Every time we open a shop, we have a grand opening, and people sleep out for these things. I mean, people are really excited when we open a new shop," Dave Skena, the chief marketing officer of Krispy Kreme, told Cheddar.
"We thought, 1: How can we do that nationwide? and 2: How do we do it in a time of a national pandemic?"
Like so many other businesses, events, and venues, the pastry chain found a digital way to celebrate the launch. This Wednesday's online Zoom event, like the live openings of the past, will feature music and entertainment guests like NBA Hall of Famer Shaquille O'Neal, according to Skena.
The grand opening will also feature an all-night virtual "campout" contest where 40 die-hards among those staying on the Zoom conference will be selected to win a year's supply of the new doughnut products.
"We can't be everywhere, but with a CPG [consumer packaged goods] offering and Walmart, we can be everywhere," the CMO said.
The launch comes even as surging COVID-19 infections in states like Florida and Arizona are leading some retailers, like Apple, to close stores again. Skena said that Krispy Kreme is adhering to national and local guidelines for its own retail locations.
"We haven't had to close shops. In some places, we do have to restrict them to either the drive-thru or pickup," he said. "So we really follow the situation locally."
When the pandemic began to spread globally, the doughnut chain had to think about how to adjust its business plan as sales - and its marketing budget - began to take a hit, according to Skena.
"We were definitely impacted, but we thought about what can we do, not, what can't we do. We can't make respirators, we can't make surgical masks, but we can bring a lot of joy," he explained.
"How can we celebrate medical workers? How can we help people reach out to a neighbor remotely? How can we celebrate graduates? So we've given well over 20 million doughnuts away in the process of trying to celebrate and bring joy across America," Skena added. "And that has been something that has, I think, kept folks interested in us."
Wealthfront’s CFO Alan Iberman talks the $2.05B IPO and the major moment for robo banking as the company bets on AI, automation, and “self-driving money."
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.