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Red Lobster will undergo a millennial transformation


Food and Beverages

Red Lobster

Under the leadership of its new 35-year-old CEO, the legendary seafood chain is making an effort to recover after emerging from bankruptcy.

With the help of millennials, Red Lobster's new CEO is trying to bring the seafood chain, which has been a mainstay of the casual dining sector for more than 50 years, back to life.

They aim to make the eateries more enjoyable, according to Damola Adamolekun. They wish to give this additional vitality.

After eliminating more than 100 of its 640 locations early this year, Red Lobster is looking to millennial leadership to attract younger customers. According to data from location analytics firm Placer.ai, Red Lobster visits decreased by almost 43% in October when compared to the same period the previous year.

Since then, the once-dominant seafood giant Red Lobster has come out of bankruptcy and entered a new era. Fortress Investment Group is contributing $60 million to Red Lobster revamp the brand's environment, service, and value propositions.

Adamolekun, who has held the position since late August, unveiled a new Red Lobster Millennial menu on Monday. In addition to bringing back beloved goods like hush puppies, he is launching nine new products.

Adamolekun stated that when they are restored, there ought to be the same amount of celebration on social media.

He also intends to create new music playlists and update venues by adjusting the lighting and décor. Adamolekun wants his upgrades to be age-neutral because 40% of his guests are over 55.

Many of the challenges facing casual food franchises are reflected in Red Lobster's issues.

In the third quarter of this year, there was a 2% decrease in total visits to full-service restaurants. After foot traffic dropped more than 35% at this time last year, TGI Fridays recently shuttered 50 locations and declared Chapter 11 bankruptcy, according to Placer.AI. It is anticipated that the breakfast restaurant Denny's will shortly shut 150 locations.


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