LGO group, owners of the ever popular Le Grande Orange, Postino, and other restaurants, are opening locations in Southern California at a seemingly frantic place, and Dallas is next.
Why?
Do they know Arizona's economy is history? (The owner does live in Los Angeles so he can be objective about it.) Do they have the foresight to see that the packed crowds in their restaurants were just throwing around HELOC money? Are the crowds disappearing now that the free cash has disappeared?
Restaurant/winebars like theirs will make an absolute killing in So Cal - more so than they did in Phoenix - but you have to wonder why they're in such a mad rush to build in CA instead of the usual pace of growth.
I used to work for LGO hospitality.. You're so wrong here. Bob lives in LA because of a divorce and a new relationship. The two California stores were planned long before the RE Market slump. On another note: there is a Postino in the works for downtown Phoenix. Dallas - who knows?
Posted by: John | April 29, 2008 at 05:35 PM
According to all the coverage of the Pasadena opening last month -
One open in Pasadena
One in Santa Monica
One coming to West Hollywood
Also coming to Dallas
Posted by: Frank | April 29, 2008 at 06:09 PM
West Hollywood is new to me. Dallas I really don't think will happen... one of their big investors lives in the Dallas area, and has been pushing for a Texas location for some time now. The jury is out.
Their restaurants in Arcadia have been, and will continue to be very successful. LGO's clientelle is not the Scottsdale crowd.. its the PHX/ Arcadia / Biltmore crowd. In fact, Bob turned down multiple offers to open a new concept in the Scottsdale Waterfront, because he did not like the location.
Side note: I just spent a few days in Orange County. It was beautiful, with the exception of some 100 degree weather. Nonetheless had a great time. Coastal OC is gorgeous.. seems easy to get used to.
Posted by: John | April 30, 2008 at 12:02 PM