The humble panettone, a traditional Italian sweet bread enjoyed during the Christmas season, has undergone a remarkable transformation, evolving from an affordable holiday treat to a luxurious, artisanal delight. Once commonly found for around $10, these airy, fruit-studded loaves are now being offered by high-end restaurants, designer brands, and specialized bakeries, with prices ranging from $60 to well over $100. This shift reflects a growing appreciation for quality ingredients, meticulous craftsmanship, and elaborate packaging, transforming the perception of panettone from a simple festive staple to an object of culinary desire.
This “panettone premiumization” is evident in the offerings of establishments like Sant Ambroeus, a chic Italian restaurant with locations in fashionable destinations like Manhattan, East Hampton, and Milan. Their limited-edition panettone, priced at $59, has captivated discerning palates, including those accustomed to more traditional, less expensive versions. Similarly, Cipriani offers a $65 panettone, while designer Roberto Cavalli has collaborated with artisan pastry shop Olivieri 1882 to create a $130 version, presented in a tin adorned with Cavalli’s signature print. Even Gucci has entered the high-end panettone market, with a $160 version from their Beverly Hills Osteria quickly selling out.
The price escalation is often justified by the painstaking production process and the exceptional quality of the ingredients used. Una Pizza Napoletana, for instance, offers a $109 lemon and dark chocolate panettone, handcrafted with a mother yeast starter that requires days of leavening. Chef Anthony Mangieri emphasizes the attention to detail, highlighting the use of candied lemon peel prepared using a time-consuming ancient French method, contributing to the unique and refined flavor profile. Similarly, Travelers Poets & Friends in the West Village justifies their $65 panettone by emphasizing the two-day production process, the use of live mother yeast, candied fruit from Northern Italy, Piedmont hazelnuts, and California raisins.
She Wolf Bakery, known for its presence at greenmarkets around New York City, exemplifies the high demand for artisanal panettone. Their $65 offering, made with local butter, organic eggs, and a selection of dried fruits and nuts, consistently sells out within the first hour. This rapid depletion of inventory reflects the growing consumer appetite for high-quality, handcrafted panettone, which has effectively elevated the sweet bread from a commonplace holiday item to a sought-after delicacy. The exclusivity and limited availability further contribute to the perceived value and desirability of these artisanal creations.
The rise of luxury panettone in the United States can be traced back to 2018 when Oprah Winfrey featured a panettone by Roy Shvartzapel, a renowned baker with experience in prestigious kitchens like Per Se and El Bulli. Shvartzapel’s panettone, initially priced at $49.99, now commands a price of $102, often selling out weeks before Christmas. This endorsement by a prominent figure with significant influence on consumer trends likely played a crucial role in popularizing high-end panettone, introducing it to a wider audience and signaling its status as a premium product worthy of attention and investment.
While the sticker shock associated with luxury panettone might be a relatively new phenomenon in the US, food historians point out that the bread has always had a history of indulgence. Originating in 14th-century Milan, panettone was conceived as an opulent and sumptuous treat reserved for special occasions. Its very name, derived from the Milanese dialect “pan de ton,” meaning “luxury cake,” underscores its historical association with extravagance and richness. The current trend towards high-end panettone, therefore, can be seen as a return to the bread’s original roots, a rediscovery of its inherent luxurious nature, and a departure from the mass-produced versions that dominated the market for many years. This renewed focus on quality, craftsmanship, and tradition effectively reclaims panettone’s historical significance as a symbol of celebration and indulgence.
