Rolling Stone Gets Into Risky Business: Restaurants

By Laura Ferreiro Posted Dec 7th 2009 09:00PM

Venerable music mag Rolling Stone has announced that it will cut its teeth in an unlikely new business venture -- restaurants. The owners of the enduring entertainment publication have invested in a themed eatery and bar, which is set to open its doors in Hollywood in summer 2010.

If things go well for this entertainment-themed bistro, more locations could be on the way in cities across the country. The flagship location is being built at the Hollywood & Highland Center, an entertainment and retail complex that attracts an estimated 15 million tourists from all over the world each year.

"We've been looking for the ideal opportunity to expand the Rolling Stone brand," co-founder and Editor Jann S. Wenner said in a statement. Co-founder Niall Donnelly, who has launched several successful bars and clubs in the U.K., added, "We are both excited and determined to bring the spirit of the magazine to life – the edginess, the coolness, the classiness and the timelessness – in making this venue a place to see and be seen in."

The two-tiered venue is designed to appeal to tourists as well as locals who may drop in to watch sports or have a drink, or frequent the more upscale downstairs venue, which will offer bottle service and space for corporate events, they said.

Even with its many ties to the music and film industries, Rolling Stone's restaurants won't feature memorabilia, leaving that to other entertainment-themed chains such as the Hard Rock Cafe and Planet Hollywood.

It's interesting that Rolling Stone would choose to launch a restaurant, given the downturn in restaurant dining due to the ongoing recession, and the struggles that other themed eateries have endured.

Planet Hollywood, which launched in 1991 with the backing of Hollywood stars including Arnold Schwarzenegger, Sylvester Stallone, Bruce Willis and Demi Moore, filed for Chapter 11 bankruptcy twice in the past decade and closed dozens of locations around the country, due largely to declining business. Schwarzenegger pulled out of the partnership in 2000, saying the company had not achieved the success he had hoped for.

Meanwhile, the Hard Rock Cafe was also forced to close several locations across the country due to financial difficulties and its theme park filed for bankruptcy, but it still continues to operate around the world and is in fact planning to open another location in the same Hollywood & Highland Center as Rolling Stone.

Sports network ESPN seems to have achieved greater success, however, with its ESPN Zone sports-themed restaurants. Its flagship Baltimore location, which opened in 1998, is believed to have revitalized the city's waterfront district, and it recently opened a location in the high- profile downtown Los Angeles L.A. Live Complex, which houses the Staples Center and the Nokia Theater.

But will Rolling Stone fare as well in the challenging economic climate? Can a music magazine navigate the treacherous waters that have swallowed up several restaurants in recent years? Or should Rolling Stone stick to putting pen to paper and leave the restaurant business to others?

Tags: Rolling Stone, RollingStone

Comments

(3)

Tuesday 08 December

By leroy

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Does that magazine still cover music ?? I thought they became a fashion magazine from that cover..UH UH UH I AM #1 ..TWO IS NOT A WINNER THREE NOBODY REMEMBERS.. UH UH UH WHAT ?? WHAT ??

By THE STONES RULE!

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Silly me, I read the headline too quickly. I thought it was the ROLLING STONES! :P

Wednesday 06 April

By Fashion Fan

This seems like a good venture to undertake. With their experience on the pop culture pulse, they may be able to bring some good additions to the eatery scene. Who knows, maybe they will even branch out into other areas like architecture or basement finishing down the road. Sometimes large recognizable businesses like this are able to successfully undertake endeavors in very diverse fields.

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