Alexander’s Steakhouse, a Cupertino, California-based upscale dining restaurant, expects business at its Taipei outlet to improve this quarter on the back of year-end corporate banquets and holiday celebrations, senior executives said yesterday.
The eatery has stayed on course thus far to achieve US$3.5 million in annual revenue for the local branch, as it is gaining better knowledge of Taiwanese customers and their tastes, Alexander’s communication official Ivy Hsiao (蕭艾雯) said.
“We are looking at a 5 percent revenue increase next year as we better adapt to the local market,” Hsiao said by telephone.
The adaptation mainly features a more affordable menu and less-flavored dishes, as Taiwanese diners grow increasingly health-conscious and cautious about spending.
Alexander’s only served dinner sets with an average meal price of NT$7,000 (US$223) when it opened in October last year in Taipei across from Eslite Bookstore’s (誠品) Dunhua S Road location.
That pricing strategy won it a reputation as the most expensive steakhouse in Taiwan, more expensive than larger US competitors Lawry’s The Prime Rib, Morton’s The Steakhouse and Ruth’s Chris Steak House.
The strategy packed Alexander’s daily in the first few months, but the fever soon subsided, driving it to serve much more affordable lunches from April onward and court corporate events, Hsiao said.
The change proved a success in light of the revenue figures, Hsiao said, declining to elaborate.
Alexander’s has tried to differentiate itself from rivals with its unique interpretation of the classic American steakhouse with hints of Japanese influence in the menu, US executive chef James Brownsmith said.
The steakhouse, a joint venture with Tonlin Department Store Co (統領百貨), is to celebrate its one-year anniversary next week, with chef Marc Zimmerman from the San Francisco branch to join Brownsmith for the occasion.
A special menu is to feature a seven-course dinner with four glasses of wine priced at NT$7,000 per person.
Special promotions help boost brand awareness and on-the-job training for local employees, but are limited in their ability to boost revenue after factoring in costs, Hsiao said.
Alexander’s is also to open a branch in Japan next month.
Situated on the 42nd floor of Shiodome City Center in Tokyo, the new venue is to have 160 seats, triple the capacity in Taipei.
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