A Roundup of Rivals in the Cupcake Craze
In the latest layer of the cupcake craze, New York-based Crumbs Bake Shop started trading shares on Nasdaq today. Shares opened at $13.10, giving the cupcake chain a market value of $58.9 million, according to Reuters.
There has been no shortage of gourmet competition in cupcakeries, with many small business owners attempting to put their own inventive -- and often quirky -- spin on the sweet treats. To be sure, the business is far from all sweetness and light. There's even a Food Network reality show called Cupcake Wars, which is in its third season.
Here's how Crumbs stacks up against some of New York's leading cupcakeries.
|Crumbs Bake Shop||Magnolia Bakery||Sweet Revenge|
|Cupcake style||Huge, and huge selection (more than 50 flavors and toppings daily)||Frilly, with sprinkles and frosting swirls||Grown-up, eaten on plates with knives and forks|
|Price||$3.25 to $4.50||$2.75 to $3.25||$3.50|
|What else?||Cakes (and "colossal cupcakes")||Pies, cakes, cookies, brownies, pudding, muffins||Wine, beer and savory cakes, plus breakfast, lunch and brunch|
|35; 200 planned by 2014||Six and counting||Just one|
|Ambience||Fancy candy store: Wood cases, marble counters and treats||Bright, retro bakeshop with long lines||Cool, West|
Village bar where regulars hang
|The hook||More locations, more cupcakes and online|
|Sex and the City ate here||You want Pinot Noir with that?|
|Plans for world domination||Franchising, after going public in a $66-million merger||Major expansion (first up: Harlem, Chicago and Bloomingdale's flagship store in New York this summer)||Sweet Revenge apparel, fragrances, TV show|
To indulge your sweet tooth even more, a look at our recent coverage of some of Crumb's most inventive rivals:
How do you think Crumbs public trading will affect other entrepreneurs in the cupcake business? Share your comments.
Corrections & Amplifications: An earlier version of this post misstated Magnolia Bakery's plans to expand in New Jersey and Boston. The company has no immediate plans for those cities, rather it expects to open in Chicago and the flagship Bloomingdale's store in New York this summer.
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