It seems like yesterday when we were all watching Carrie Bradshaw gush over her latest crush while scarfing down a cupcake from Magnolia Bakery. After that, people could not get enough of the sexy, little cakes. Cupcake stores were popping up in every town and city across America, and thus the cupcake craze began. It was during this craze that husband and wife, Jason and Mia Bauer, decided to open a cupcakery of their own, Crumbs.

 

Crumbs Bakery was a hit, and became a staple in New York desert culture instantly. Over the years, the company expanded with over 48 shops across 10 states. The bakery was known for its giant cupcakes that were both delicious and expensive. The stores success was built on the popularity of “Sex and the City” and America’s need for comfort food during the tough times of the recession. People were willing to pay the steep price for a sweet treat, if it meant easing their minds for a little while. As the economy stabilized and people began recovering, the high price of a Crumbs cupcake only seemed decadent. The company went public in 2011, and since then its sales have dwindled down and died out.

 

Crumbs Bakery closes its doors after financial hardships (mall finder.com)

After several years of financial difficulty, and over 10 years in business, the famous Crumbs Bakery closed its doors. The closing came as a shock to employees, many of them hearing the news from customers or online. CNBC’s “The Profit” star, Marcus Lemonis, plans to bring the company back by expanding its business model. Until then, however, those employees are out of the job.

 

 

The abrupt closing of the Crumbs Bakery, has left many to wonder, “is the cupcake craze over?” It is hard to imagine any store selling solely cupcakes would survive, as most people are not going to buy a cupcake everyday. Oftentimes cupcakes from these cupcake bakeries are only mildly better than what one can cook at home, so why pay an upwards of $5? People love deserts and are willing to buy, but with bakeries, it seems variety is key. When a craze like cupcakes springs up as quickly as it did, it is only a matter of time before the market becomes saturated, and it dies out.

 

What are your thoughts on the cupcake craze? Were you shocked when Crumbs Bakery closed its doors? Let me know in the comments below or find me on Twitter @whatsthesich