Cronut Craze Goes Global

Frenzy over the bakery hybrid sparks black market, copycats

   

Cronut Craze Goes Global

cronut2 300x200 Cronut Craze Goes GlobalNew Yorkers can’t get enough of the latest confectionery-crossover.

The Dominique Ansel bakery in Manhattan’s ritzy Soho district combined the flaky French goodness of a croissant with the delicious sugary taste of a cream-filled doughnut to create the cronut. The treats have proven so popular that a “black market” has developed around them, charging as much as 700% markups on the delivery of an order of five cronuts, Time notes.

dunkin donuts 200x100 Cronut Craze Goes Global
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After hitting bakery shelves in May, cronuts, priced at $5 each, have attracted a legion of devotees, forcing the bakery to impose limit of six cronuts per customer. However, since the bakery only makes about 200 cronuts per day, they sell out quickly. Budding entrepreneurs, who are willing to wait in line each morning, purchase a half dozen cronuts at the bakery’s price and then deliver them to fans unwilling to stand in line, charging a premium for the service, and keeping the sixth cronut for themselves.

The cronut has caught the attention of New York celebrities like actor Hugh Jackman and Anderson Cooper. It has also spawned numerous copycat knockoffs.

Since Dominique Ansel has trademarked the cronut name, a sudden profusion of oddly similar doughnut/croissant creations across the U.S., the Philippines and Australia have been forced to sell their fakes under the names dossant or doissant, Eater.com notes.


Article printed from InvestorPlace Media, http://investorplace.com/2013/06/cronut-craze-goes-global/.

©2014 InvestorPlace Media, LLC

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