Latest news with #SmorBakery
Forbes
18-07-2025
- Business
- Forbes
Ole & Steen's Danish Pastries And Sandwiches: A Hit In NYC
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 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.
Forbes
04-07-2025
- Business
- Forbes
Scandinavian Bakery Binge In NYC As Smor Bakery Opens Its Third Location
Smor Bakery, one of several Danish bakeries in NYC, started in the East Village (pictured above) and ... More has added two more locations in Brooklyn. It's not just French bakers that have taken New York City by storm; now several Scandinavian bakeries from Sweden and Denmark are flourishing. Smor Bakery, with Danish roots, opened its third location in Williamsburg in late June after its flagship East Village and Clinton Hill spots, Fabrique Bakery from Sweden has 2 locations, a busy one near the Meatpacking district and another near the Empire State Building, and Ole & Steen, a Danish bakery, is the largest, having grown to 5 locations throughout Manhattan. Smor Bakery and Test Kitchen's new Williamsburg location is 3,000 square feet and contains a retail bakery, café, shop and testing kitchen. Why has Danish baking taken off in NYC? Several reasons, explains Sebastian Bangsgaard, a classically trained chef from Copenhagen, who co-runs Smor Bakery with his partner, Sebastian Perez, who might be called the two Sebastian's. He says restaurant pioneers with world-class reputations such as Noma and Geranium put Danish cooking on the global map. This spirit of innovation in restaurants in Denmark filters down to other sectors, like bakeries, he suggests. And Danish spices such as cinnamon, cardamon, and nutmeg have been part of its culture since the Middle Ages. Hence Danes love a simple BMO, Danish for a roll with cheese and whipped butter. Both Sebastian's are native Danes who met as line cooks at Copenhagen's restaurant in Tribeca. Bangsgaard and Perez were extremely enterprising when launching their initial Smor Bakery on East 12th Street in the East Village in 2019. They tapped a mere $1,000 of their savings and combined that with a $40,000 loan to open. Candid Bangsgaard admits that 'We weren't ready, but we opened because we had to.' The East Village spot has two storefronts, one for the bakery and one for the restaurant. They grabbed at the second spot, which during the Covid epidemic, was offered at below-market rent. Perez notes that obtaining leases on side streets, not First Avenue or Second Avenue in the case of the East Village, made for 'lower rents and help us stand out, and create a quieter more calming atmosphere.' When the duo opened their second eatery in Clinton Hill, Brooklyn in 2023, they drew predominantly from cash flow, pouring their profits into expansion, helped by a small debt investment from an original backer. Their third location has a different name, Smor Bakery & Test Kitchen, because its Williamsburg test kitchen is where it's 'developing and perfecting everything before it's introduced in our bakeries or restaurant locations, not just baked good and breads, but also savory dishes and beverages,' explains Bangsgaard. Hence, he says, it's testing out 'new condiments, pickling and fermenting various veggies, expanding our bread program, with loaves made using grains like Einkorn and Banko rye and options like dark chocolate sourdough, olive loaves and vegetable infused breads.' For example, it recently tested a wild-rose raspberry swirl, which did well with guests and is now offered in its East Village bakery. Perez says that its affordable pricing, trendy design and menu have enabled it to attract a larger, younger, demographic of guests mostly aged 20 to 40, which reflects the make-up of the East Village located near Cooper Union, NYU, and the New School. What's next for Smor Bakery? Perez says it's looking to expand their baking operations, including opening additional locations in 'emerging neighborhoods around the city, without saturating the market. He says they'd also like to move into consumer-packaged goods and bottle some of its signature sauces, such as its remoulade. Lastly, they're looking into opening in Washington, D.C. in the next few years. The two partners own 80% of the business and have expanded it with mostly their own capital. 'We should be able to scale it with our own finances,' Bangsgaard points out. 'It's all about making the right deal,' he notes. He describes the keys to its continued success as: 1) Remaining cool and not becoming too corporate, 2) Continue to hire people who are affable and welcoming and training them right, 3) Sustaining its innovative design.
