Conde Nast Restaurants open for business
So what do you do when you're a big magazine publisher that's strapped for cash? Close a couple of magazines? Build new mobile apps?
How about open a restaurant?
Conde Nast has unveiled an official division of its company called Conde Nast Restaurants, tasked with opening eateries like the Vogue Café and GQ Bar, already up and running in Moscow.
The company plans to expand at a rate of five restaurants per year, focusing on Vogue and GQ, which have a large international distribution. The publisher also notes it's only looking internationally right now, at cities like Hong Kong and Dubai.
Given the hit the restaurant industry has taken during the recession, this seems like an interesting way to recover losses. But, hey, it worked for Playboy, so why not?