The CEO of Inspire Brands, Paul Brown, recently spoke with CNBC’s Jim Cramer about the company’s resilience in the face of ongoing inflation pressures. Inspire Brands is the owner of popular restaurant chains such as Dunkin’, Baskin-Robbins, Buffalo Wild Wings, Arby’s, Jimmy John’s, and Sonic.
Brown highlighted the resiliency of consumers and the company’s diverse brand portfolio, which caters to customers across different income levels. He emphasized the strength of the company’s integrated brands and how they benefit from shared capabilities and investments.
Two brands, in particular, stood out for their performance – Sonic and Dunkin’. Sonic’s order-ahead business saw significant growth during the pandemic and continues to thrive. Dunkin’, on the other hand, is experiencing a surge in popularity, thanks in part to revamped coffee and beverage equipment that has led to an increase in iced drink offerings.
As Brown mentioned, Dunkin’ is “on fire,” with iced beverages outselling hot drinks. He shared an interesting tidbit about the origin of Dunkin’s iced coffee trend, originating from a franchisee in Rhode Island who poured coffee over ice, sparking a trend that caught on nationwide.
Inspire Brands’ success in the restaurant industry reflects a unique approach, drawing parallels with the hotel sector in terms of business strategy. The company’s ability to leverage its diverse brand portfolio and shared capabilities has contributed to its resilience and growth despite challenging economic conditions.
In conclusion, Inspire Brands and its CEO, Paul Brown, are optimistic about the future and the continued success of their restaurant brands. With a focus on innovation, adaptability, and customer satisfaction, Inspire Brands remains a leading player in the ever-evolving restaurant industry.
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