Magnolia Bakery plans Chicago expansion through franchise program
The bakery currently has 12 locations across New York City, Chicago and Los Angeles.
Its only Chicago shop is downtown at 108 N. State St., where 30 employees work.
GET TO KNOW YOUR CITY
Find Local Events Near You
Connect with a community of local professionals.
Explore All Events
expand
'We are looking forward to expanding our footprint with additional retail bakeries in neighborhoods across Chicago,' said Magnolia Bakery CEO Bobbie Lloyd.
Courtesy of Magnolia Bakery
Magnolia will open its first franchise location in Salt Lake City next year, and is eyeing Chicago next.
Local neighborhoods targeted for Magnolia shops include River North, Fulton Market, Lincoln Park and Wrigleyville. The bakery aims to also open suburban locations in Naperville, Wilmette, Highland Park, Vernon Hills and Oak Park.
'We look at neighborhoods that have a mix of residential, tourism, entertainment, retail, office buildings and a cultural draw,' said Bobbie Lloyd, CEO and chief baking officer of Magnolia Bakery. 'We are looking forward to expanding our footprint with additional retail bakeries in neighborhoods across Chicago.'
Store sizes will vary from 1,200 to 2,000 square feet.
expand
Magnolia Bakery plans to expand its Chicago presence through a new U.S. franchise program.
Courtesy of Bryan Johnson Studio
Magnolia recently hired Jason Mattes as vice president of domestic franchise development to lead the company's franchise growth.
'With today's booming premium dessert market, coupled with Magnolia Bakery's high-quality products, this franchising initiative offers a unique opportunity for franchisees to deliver an elevated experience that stands apart from typical dessert franchises,' Lloyd said.
Sign up for the Business Journal's free daily newsletter to receive the latest business news impacting Chicago.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
35 minutes ago
- Yahoo
Fair Harbor Founders Step Aside, Remain as Board Members
Eleven years after creating Fair Harbor, the founders have stepped into new roles. Caroline Danehy and her brother Jake have now transitioned into the positions of cofounders, with Jake Danehy, who had served previously as chief executive officer, taking on the role of chairman, and his sister, a board member. Jake Danehy has been succeeded as CEO by Bethany Muths, who joined the company last year as president. Caroline Danehy had served previously as chief creative officer and chief brand officer. More from WWD EXCLUSIVE: Kulani Kinis and Olipop Collaborate on Soda-inspired Swimwear Collection The Summer 2025 Swimwear Trend: Tankinis and Boy Shorts FDRA Elects New Board Leadership In separate postings on LinkedIn on Monday, the siblings said: 'A little over a year ago, [we] welcomed Bethany Muths as our first president to help guide Fair Harbor into its next phase of growth. From Day One, Bethany has been an inspiring leader and a true partner; bringing fresh perspective, deep brand experience, and an unwavering vision for what Fair Harbor will become. I'm thrilled to share that Bethany will be stepping into the role of CEO. I have so much respect for her leadership and am genuinely inspired to see where she takes the brand. Alongside Bethany, I'm also delighted to share that Andrew Aicher has been promoted to chief financial officer and chief operating officer.' Muths was a veteran of Mizzen+Main, Ivory Ella and the Brazil-based footwear brand Schutz. Aicher, who was an investment banking analyst at Bank of America Merrill Lynch, joined Fair Harbor in February 2020 as vice president of finance and operations and was elevated to CFO the next year. In an interview with WWD on Monday, Jake Danehy said, 'We've been working with Bethany for the last year and she's been great. We interviewed over 40 executives for her position and she brings a level of professionalism and process to the company. It's given Caroline and me the opportunity to focus on what we love: me on product innovation and wholesale accounts, and Caroline on the brand side.' He added that after nearly 12 years of 'blood, sweat and tears' building the $50 million-plus brand, it was time to trust its future to someone with more experience. 'Caroline and I don't know what we don't know but we recognize that Bethany can get Fair Harbor to the next level,' he said. Fair Harbor was founded in 2014 as a sustainable men's swim brand named for the favorite summertime haunt of the Danehy family, Fair Harbor on Fire Island, N.Y. Since then it has expanded into a number of other categories as well as womenswear. Caroline Danehy was 17 when she and her 20-year-old brother created the company. Jake Danehy said the company's wholesale business is quite strong with retailers such as Nordstrom, Dillard's, Dick's Sporting Goods, REI and 'hundreds of specialty stores,' currently carrying, or planning to add, the brand. And while it's best known for its men's swimwear, its apparel is also performing well. The goal, he said, is 'how to own more of his closet and be relevant the rest of the year, not just the summer, and be a great overall apparel brand.' Although Fair Harbor still offers womenswear, the focus is on men's as the primary growth opportunity, he said. And although the company had operated a store several years ago, it no longer has a brick-and-mortar presence, although that might change in the future, he said. in 2022, Fair Harbor received an undisclosed capital investment from Broad Sky Partners, a private equity firm that partners with middle market business services and consumer companies. The investment marked the brand's first institutional capital funding. Best of WWD Ironman Merchandise Proves Hot Seller for Partner Brands EXCLUSIVE: Li-Ning Stages Show in China's Hainan, Eyes Global Online Expansion Vault by Vans Taps Artist Geoff McFetridge for Capsule
Bloomberg
44 minutes ago
- Bloomberg
Sequoia Partner Maguire's Posts on Mamdani Spark Founder Petition
A growing list of startup founders are circulating an open letter to Sequoia Capital urging the prominent venture capital firm to take action against one of its partners, Shaun Maguire. The letter, which had more than 520 digital signatories as of Monday afternoon, follows a July 4th post on X in which Maguire referred to New York City mayoral candidate Zohran Mamdani as an 'Islamist.' Maguire, an avid X poster best known for his investments in SpaceX and xAI, claimed in the controversial X post that Mamdani 'comes from a culture that lies about everything' and is willing to lie 'if it advances his Islamist agenda.'
USA Today
an hour ago
- USA Today
Publix Super Markets declares Q3 dividend of 11.05 cents per share, payable August 1
The board of directors for the Florida-based Publix Super Markets Inc. declared the third-quarter dividend on July 1 at 11.05 cents per share on its common stock, a company news release said. The dividend, the same as the second-quarter dividend paid on May 1, will be paid on Aug. 1 to stockholders of record as of the close of business on July 15. Stockholders receive the dividend either through direct deposit or by mail as a check. Who can buy Publix stock? Publix is a privately owned company, and its common stock is not publicly traded on a stock exchange. Only current workers and members of the Publix board can purchase Publix stock. The current stock price was set on May 1 at $20.20 per share. Who sets the Publix stock price? The board sets the company's stock price by comparing Publix's financial results and stock price to comparable peers that are publicly traded. In April 2022, the company enacted a 5-for-1 stock split, meaning for each share a stockholder had, they received four more. The price was adjusted from $68.80 to $13.76 per share. As of Feb. 4, about 247,000 Publix employees were common stockholders of record, according to Publix's annual 2024 Form 10-K report. A philosophy of employee ownership Publix was founded in 1930 in Winter Haven, Florida by George W. Jenkins, an innovator who believed in profit sharing and employee ownership with cashiers, baggers, butchers, deli clerks and bakers. Jenkins believed the issuance of stock was a means to motivate and empower his employees, who would then 'treat customers like royalty,' the Publix website said. Publix is one of the 10 largest-volume supermarket chains in the United States. Its retail sales in 2024 reached $59.7 billion. The grocer employs more than 260,000 people. Publix operates 1,411 store locations, 10 distribution centers and 10 manufacturing facilities across eight states in the Southeast.
