Ole & Steen's Danish Pastries And Sandwiches: A Hit In NYC

Forbes

18-07-2025

Ole & Steen location at 100 Church Street Ole & Steen
When Josh Pickens, the Brooklyn-based president of the Danish baker Ole & Steen, which has 5 locations in New York City, is asked why it's done so well in the city, he returns to one dessert, its Cinnamon Social as the linchpin of its success. That dessert, a take on the classic Danish kanelstang, is a 'soft, buttery pastry layered with cinnamon, vanilla custard, and soft dough,' he explains. New Yorkers, he suggests, gravitate toward ordering it.
In Denmark, the bakery's name is Lagkagehuset (which admittedly would be too complicated for most New Yorkers) where it numbers 107 locations and is still growing. It also has 28 locations in the United Kingdom including London and debuted in NYC in 2019.
Cinnamon Social from Ole & Steen Ole & Steen
The company is based in Copenhagen, but Pickens leads a leadership team that operates out of NYC, so it can be close to its overseas operations in NY.
Indeed, Ole & Steen has expanded the most of the several Scandinavian bakeries that are thriving in New York City that includes Smor Bakery, which has 3 locations, and Fabrique, which has 2 shops.
Many eateries that expand from overseas to the U..S. are primed by private equity ownership. Such is the case with Ole & Steen where Nordic Capital, a private equity firm which ironically is based in NYC, is its primary owner with L Catterton, which has $37 billion in assets, as a minority owner.
Its NYC shops, Pickens says, puts the emphasis more on food overall, not just its pastries, so salads and sandwiches are mainstays. Its most popular sandwiches are its toastie sandwiches, made on its house-made focaccia, and sourdough baguettes. It partners with Counter Culture Coffee, and develops original blends for its cafes such as its Kaffe Blend that it uses for its espresso beverages. Forbes Scandinavian Bakery Binge In NYC As Smor Bakery Opens Its Third Location By Gary Stern
Pickens notes that one major adjustment it needed to make in the NYC market concerned the flour produced in the states because 'the milling process in the U.S. affects things like water absorption, which means we can't do a 1:1 recipe translation from Denmark.' Hence, everything in NYC must be made from scratch.
Ole & Steen has been very strategic about where it locates its outlets in NYC, pursuing neighborhoods that attract 'locals, tourists and office workers that are busy from 7 a.m. to 7 p.m.,' Pickens notes. Its 5 outlets are near busy Bryant Park and Union Square, Upper East Side, Tribeca near the World Trade Center and Oculus, and Midtown East, near many hotels and office workers.
Pickens says that Danish pastry shops have flourished in NYC because 'they bring a sense of everyday luxury inspired by a more balanced, European lifestyle.'
Asked if Ole & Steen is exploring expanding to other American cities, Pickens replies, 'Of course. But we want to get NYC right first and grow from strength to strength.' He notes that it will soon be offered on Goldbelly.com, so that will start its nationwide sales. He also added that it will explore adding more locations in NYC.
Asked the 3 keys to Ole & Steen's continued success, Picken replies: 1) Maintaining its Danish roots while keeping its innovative approach, 2) Cultivating a relaxed café experience that provides a moment of relief to New Yorkers and tourists, 3) Keep encouraging the team to adapt and pivot to keep up with changing trends and customer feedback.