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Forbes
Forbes
6 Dec 2023


eataly3

Eataly SoHo, which debuted in late November 2023, is about 20,000 square feet, about two-thirds the ... [+] size of most other Eataly’s, but still spacious by New York City standards. Pictured is its new bar.

Courtesy of Eataly

Mention Eataly to most New Yorkers, and many residents know it from its 23rd Street Eataly Flatiron (which opened 13 years ago) and Eataly Downtown in the Financial District based on their combined restaurants, retail shops, espresso and pastry kiosks and marketplaces. It’s known for bringing authentic Italian food to New York City, a touch of Sicily, Milan and Rome converging on the Big Apple.

In late November 2023, it debuted its third location in New York City, Eataly SoHo on Lafayette Street, in a former appliance store. It is smaller than its city counterparts at nearly 20,000 square feet compared to the others at 30,000 square feet. The restaurant serves 200 guests, large by city standards.

And Eataly is not just a New York concept. In fact, there are 50 Eataly’s globally with 9 located in the United States including Los Angeles, Boston, Chicago, Dallas and Las Vegas.

A global powerhouse, the new Eataly SoHo is smaller than its New York City counterparts but has the same array of multiple revenue streams, aiming to keep customers happy and registers ringing.

Eataly SoHo is separated into three areas: 1) The anchor dining experience at its Eataly restaurant, 2) Eataly market, which offers thousands of imported Italian and local products, 3) The all-day café, which offers pastries made in -house daily, Roman pizza, paninis and focaccia.

Its CEO for North America Tommaso Bruso was appointed its leader in September 2023 and previously served as CEO of fashion companies Colorful Standard, Benneton Group and Diesel North America.

When this reporter encountered him at the opening preview, he asked why a CEO with extensive fashion experience was named to run a restaurant chain. He replied, “Business is business.”

Bruso said that Eataly has been on a growth revenue pattern. He said its same store sales have risen 10% since 2019.

To keep things fresh, Eataly SoHo has some new offerings including its Piedmonteses Tajarin al Tartufo Bianco, a handcrafted pasta dish served with white truffle, and a robust wine selection with over 300 Italian bottles on the list.

Investment Bank Boost

One factor fueling its growth has been the European investment firm Investindustrial acquiring a majority stake of 52% in Eataly in 2023. Bruso said that it has “invested over $215 million in Eataly, which is mostly dedicated to expansion of North America.” The goal is to open 20 new stores in North America within the next 5 years.

Three Different Eataly Formats

Bruso also says that Eataly SoHO reflects one of its three new formats including: 1) Smaller stores operating in transport hubs from trains stations to airports, 2) Medium-sized outlets such as Eataly SoHo, 3) Flagships locations that are larger such as its original Flatiron eatery. For example, Toronto will have several of these formats mirroring New York City.

Eataly also depends on hiring a slew of employees. In New York City, the three Eataly’s employ 1,200 staffers, and has 3,500 employees throughout North America. How did Eataly attract so many employees in a tight, competitive job market?

Bruso replied that “its reputation for high-quality products makes it a desirable brand to work for, and it has several levels of management which allow for real career growth.”

Consumer reaction on Yelp to Eataly Downtown was mostly enthusiastic. Karen from New York exclaimed that going there “took me back to Paris.” She went to the retail shop for pizza and said, “want to choose from different cheeses or meat? This shall be the location you give your money.”

Bella from Long Island fell in love with Eataly, describing is wide assortment of cheese, different-shaped pasta, meats, and dessert as “what I envision heaven to be.” However, she noted that some of the items were “pricey.”

Though Global, Eataly Wants To Go Local

What will determine Eataly SoHo’s success? Bruso replied that “keeping Eataly’s DNA at the forefront of our brand” is key. But he added, success “hinges on the need to cater to our local audience and prioritize a neighborhood feel.”