“Oh my goodness, goodness, goodness. They’re so delicious.” — Oprah Winfrey
“The dark chocolate ones…just as powerful as oysters they say.” — Russell Crowe
“I love Sprinkles Cupcakes in Beverly Hills.” – Paris Hilton
In bitter times, we deserve sweet stories. I found one on my trip to Los Angeles last week, where I called on Charles Nelson (D’96).
Charles and his wife, Candace, are sole owners of Sprinkles Cupcakes Inc. They founded the company in 2005. Charles had a strong entrepreneurial bent, framed by a childhood in Oklahoma City, an MBA from Darden, and work at an investment bank in San Francisco where he met Candace, an analyst. Her passion, cooking, prompted her to study the fine points of being a pastry chef at Tante Marie’s Cooking School in San Francisco, from which she graduated in 2002. She embarked on her own custom baking business, specializing in handcrafted special occasion cakes. Together they explored recipes. When the technology bubble burst, they decided to leave banking and embark on an entrepreneurial career. So, they founded Sprinkles. Charles serves as president of the firm and oversees the growth of its retail presence and product lines. Candace serves as the firm’s Executive Pastry Chef.
The products aren’t your mother’s cupcakes; these are gourmet cupcakes, baked fresh in small batches throughout the day. The recipes draw on ingredients such as pure Madagascar Bourbon vanilla, bittersweet Belgian chocolate, and premium fruits. The product line offers 23 flavors from plain vanilla to chai latte. Each item is topped with Sprinkles’ trademark modern dots. These cupcakes taste incredibly good. The endorsements quoted above are no joke. The firm and its products have been featured on The Martha Stewart Show, The Today Show, Nightline, Good Morning America, and Throwdown with Bobby Flay. Quality commands its own attention.
Los Angeles, America’s “thin city,” might seem to be an unpropitious venue in which to launch a rich food product. Despite the naysayers, Charles and Candace sold out their inventory within hours of opening their first store. Today, the Sprinkles stores are often mobbed by customers. Charles said, “Each store is designed to evoke the memory of European bakeries, affording natural light and the aromas of baked goods. The signature décor was designed by architect Andrea Lenardin.” The company has retail stores in Beverly Hills, Newport Beach, Dallas, Phoenix, and Palo Alto. And its website announces that 16 stores are coming soon, in places such as Tokyo, London, New York and Washington. Charles told me that the company has no debt and will finance its expansion organically. Here, in the middle of a sharp recession, the business is prospering.
The Nelsons are conscious of their role in the community, as reflected in purchasing decisions and donations to charities. Their boxes, bags, plates, and napkins are made from recycled materials. Leftovers are delivered to local food banks. And they are generous donors to not-for-profit organizations.
Charles and Candace Nelson are good examples of the great versatility of an MBA and a career in business. And they prove that yes, there is life after investment banking. Charles evokes pride and fulfillment as he describes the history of the company and its popularity with consumers. This is an inspiring case of the power of entrepreneurial talent, innovative thinking, and exceptional service.
Posted by Robert Bruner at 02/11/2009 07:12:42 PM