Business
Van Leeuwen Ice Cream Truck Los Angeles
(Getty Images)
in this econemy?

Van Leeuwen, America’s fastest-growing dessert chain, is looking to expand abroad

The boutique ice cream chain is looking to open at least 300 new shops in South Korea over the next decade.

Claire Yubin Oh

What started as a small ice cream truck on the streets of New York City in 2008 has now evolved into a scoop empire with over 100 store locations across California, Texas, Colorado, and Florida — and Van Leeuwen is now beginning to look beyond the US. The company signed a rare franchise agreement to open at least 300 new ice cream shops in South Korea over the next decade, starting with five store openings in the new market for this year.

For the boutique scoop shop chain where ice cream lovers can choose from more than 100 flavors, including some eyebrow-raising limited-time specials like Kraft Macaroni & Cheese, expanding its footprint has become a top priority, per a recent Bloomberg interview with CEO and cofounder Ben Van Leeuwen.

Indeed, the company’s impressive expansion in its home country, having nearly quadrupled its store count in the four years up to 2025, is helping it scoop more revenue to add to its top line. In 2024, Van Leeuwen’s sales had grown 39% year on year to $65 million, per estimates from food service industry tracker Technomics, while the parlor chain also ranked as the fastest-growing dessert concept from the top 500 American restaurants tracked by Technomics last year.

It’s also found success tapping into retail channels like Walmart and Whole Foods, selling pints of its speciality ice cream to 12,000 grocery stores as of the end of last year — up from just 100 stores in 2018.

Sundae scaries

Zooming out, there might be another reason that Van Leeuwen is putting more stock in reaching new overseas markets, with a previously attempted experiment in Singapore and now in Korea: Americans might well be falling out of love with ice cream.

Per the US Department of Agriculture, per-capita ice cream consumption has been on a downward trend for decades, dropping 34% as of 2024 since the USDA started collecting data in 1975. South Korea, on the other hand, has seen domestic ice cream sales and imports rebound in recent years, according to the department’s Foreign Agricultural Service Report.

More Business

See all Business
business

Paramount reportedly receives $24 billion from Gulf funds to back its Warner Bros. takeover

Three Middle East sovereign wealth funds have agreed to back Paramount’s takeover of Warner Bros. Discovery to the tune of roughly $24 billion, according to Wall Street Journal reporting.

The company’s triumph over Netflix in the bidding war came thanks in part to financial backing from Oracle cofounder Larry Ellison, billionaire father of Paramount CEO David Ellison.

Saudi Arabia’s PIF, which last year led the $55 billion deal to take Electronic Arts private, will provide about $10 billion in the deal. The Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co. is also involved.

According to the WSJ, the funds will not receive voting rights in the combined Paramount-Warner company. Those working on the deal don’t expect the Gulf funds’ involvement to spark any additional regulatory reviews.

The company’s triumph over Netflix in the bidding war came thanks in part to financial backing from Oracle cofounder Larry Ellison, billionaire father of Paramount CEO David Ellison.

Saudi Arabia’s PIF, which last year led the $55 billion deal to take Electronic Arts private, will provide about $10 billion in the deal. The Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co. is also involved.

According to the WSJ, the funds will not receive voting rights in the combined Paramount-Warner company. Those working on the deal don’t expect the Gulf funds’ involvement to spark any additional regulatory reviews.

The entrance of Allbirds seen from Hayes St. in San Francisco, Calif.

Allbirds, the once buzzy multibillion-dollar sneaker startup, is selling up for $39 million

That’s less than 1% of its peak market cap about four years ago.

Tom Jones3/31/26
business

JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.