Dunkin’ Donuts launches in Iceland

Dunkin’ Donuts has debuted in Iceland with the launch of its first store in the capital Reykjavik.

The outlet opened on Wednesday, with hordes of people scrambling to sample to franchise’s tasty treats in a country that hasn’t even had a McDonald’s for more than six years after the company shut down its last remaining branch in the aftermath of the 2008 financial crisis.

The franchise holder Drangasker will be allowed to open a further 15 restaurants in Iceland in the coming five years should the initial one prove to be a success, revealed CEO Arni Petur Jonsson.

He admitted that he believed over the next five years they would do just that, noting that the fact that around 200 people were queueing up waiting for the first one to open was a positive sign.

Donut-lover Steinar Gunnarsson, one of the many people lining up outside before the restaurant opened its doors, said he loved the variety they offered, pointing out that it was more than just the couple of kinds found in most Icelandic bakeries.

In June, Iceland unveiled plans to lift capital controls that were first put in place in 2008. Creditors of its failed banks have been told they can face a one-time tax of roughly US$5.1bn or pay the Treasury up to US$3.8bn.