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Magnolia Bakery. CEO: Steve Abrams Headquarters: Manhattan 3-year growth rate: 135% 2011 revenue: $20 million Profitable? Yes Local employees: 347 Global employees: 433 What it does: Retail bakery How it grew: Steve Abrams may imply that cupcake mania has become a cliché - "Can something still be considered a trend 12 years later?" he asks - but he's not arguing with the success that the sweet treats have brought Magnolia Bakery, the New York operation he bought in 2006. Since then, the firm, whose cameo in an episode of Sex and the City in 2000 launched the global cupcake craze, has expanded from a kitschy corner shop in Greenwich Village to seven company-owned stores across the nation, with each shop pulling in an average of $3 million each year. "Because Magnolia is the iconic cupcake brand - the mother ship among countless cupcake imitators - they have an ability to take advantage of that in their marketing and expansion," said Louise Kramer, a spokeswoman for the National Association for the Specialty Food Trade in New York. Last year, Magnolia received New York state approval to sell franchises; stores are being developed in countries including Lebanon, Kuwait, Saudi Arabia, Qatar, Japan, Russia and Morocco, with the first ones opening later this year. "While we don't really rest anymore on the Sex and the City thing in the states, it's done an enormous amount to make us relevant in the rest of the world," said Mr. Abrams, who receives three to five international franchise requests a day. "We're not looking to open 5,000 stores, but we feel that 300 to 400 stores internationally is achievable in keeping up the integrity of the brand." As for expansion in the U.S., Mr. Abrams hasn't yet decided if he's going to franchise. He's raising venture capital to potentially fund three or four more New York City sites, eyeing locales in the future Moynihan Station, on 125th Street in Harlem and at the World Trade Center. He's also looking for life beyond cupcakes: Besides continuing to roll out new homey, Grandma's kitchen-inspired desserts, Magnolia is developing a premium wholesale ice cream line with Ronnybrook Farm, an all-natural dairy about 100 miles north of New York City.

Magnolia Bakery taps Nathan Louer as CEO. The hire most recently served as chief brand officer for Jamba. New York City-based bake shop Magnolia Bakery announced the hiring of Nathan Louer as chief executive officer. Louer is stepping into the role to continue fostering the brand's expansion, focusing on domestic and international franchising and overall business growth across retail, CPG, and ecommerce. "Magnolia Bakery has seen tremendous growth, customer loyalty, and incredible staying power since first opening 30 years ago," says Louer. "As we embark on this next phase of growth for the brand, I look forward to building on its strong foundation, expanding the brand's franchising footprint and bringing the joy of Magnolia Bakery to even more people across the globe." Before joining Magnolia Bakery, Louer most recently served as chief brand officer for Jamba (formerly Jamba Juice), where he was able to revamp brand positioning, improvement in franchise profitability, robust product innovation, and strategic operational and marketing/communications leadership across nearly 800 locations nationwide. Prior to Jamba, Louer spent 17 years at Jimmy John's, where he worked across several verticals ultimately leading brand, product development, digital strategy, and advertising/media functions. "As we celebrate Magnolia Bakery's 30th anniversary, we're also looking towards a bright brand future," says Bobbie Lloyd, Magnolia Bakery's former CEO who will step into the newly created role of chief brand officer. "This year will mark a significant growth period for the brand and we're excited to welcome Nathan and his wealth of knowledge to shepherd the company into this next chapter." In her 20 years with Magnolia Bakery, Lloyd has played an integral role in expanding the brand, it says. Under her leadership, Lloyd spearheaded the company's omnichannel growth, launching international and U.S. franchising and brought Magnolia Bakery's desserts to consumers across the country with the launch of the brand's ecommerce platform and CPG line, including the brand's Frozen-to-Thaw Banana Pudding. Product innovation remains a key pillar of the brand. Lloyd will continue in her role leading product development and innovation, as well as aim to continue to impact Magnolia Bakery's culture, brand development, and franchise relations. Since opening its first location in 1996, Magnolia Bakery has evolved from a West Village neighborhood favorite to a global icon known for its cupcakes and world-famous banana pudding, the company says. The bakery has seen significant growth in the past five years, doubling revenue as a result of strong retail bakery sales, the launch of the company's CPG line and international franchise expansion. On the product side, the brand's top selling dessert category is consistently banana pudding - the company sells five cups of banana pudding every minute. Today, Magnolia Bakery operates 40 international bakeries and 10 locations across the U.S. By the end of 2026, Magnolia Bakery plans to expand to 50 international bakeries and 19 U.S. locations, with exciting additional long-term expansion plans. In the back half of 2026, Magnolia Bakery will open its first franchised locations in the U.S., including stores in Salt Lake City, Las Vegas, Detroit, Louisville, Fairfield County, Connecticut, Cleveland, and Staten Island. Qualified franchisees can learn more about U.S. franchising opportunities here.