Fast Company has a piece on Eataly, the enormous and enormously successful (grocery) store with restaurants inside it. For those who haven’t been, the stores have an innovative concept that harkens back to an olde tyme market with different vendors for fish, meat, and pasta, interspersed with fresh fruit and vegetables, dried pasta and olive oils, restaurants of various themes, a wine store (now back), a rooftop beergarden, a wine bar, an espresso bar, a gelateria, and a bookstore. My kids never want to leave when we’re there. Eataly NY is a collaboration with Mario Batali and Joe Bastianich’s B&B Hospitality Group.
No surprise, but it turns out that they’ve been doing very well: Nicola Farinetti, the 30-year-old CEO, tells the magazine that the New York City location has $85 million in revenues; the Chicago location will hit $50 million in sales. New locations in LA, Boston and a second NYC location in the World Trade Center are forthcoming. Eataly started in Italy in 2007 and now has 15 locations there and has 11 in Japan. London, Hong Kong, Moscow, Munich, Paris, São Paulo, Sydney, and Toronto all are in line to get locations.
That is a lot of pasta. Surely, even though the Fast Company story doesn’t mention it, after Shake Shack’s recent IPO, they have to be thinking of a public offering somewhere, sometime.