Peep Show: Dave's Red Lobster Obsession

Beasley Digital

Dave & Chuck the Freak talk about the changes coming to Red Lobster in the coming years. We know Dave has a Red Lobster obsession but, this proves it. We know more about their business plan than anyone!

Transcript

00:00so the good news for red lobster is they're out of bankruptcy and this young guy who's taken over

00:14the company is dead set on turning it around and making it a valuable enterprise again

00:21first thing he did endless shrimp gone gone yep no longer on the menu here's that story

00:28this is big red lobster's new ceo damola adam alekin has a tough task in front of him turn around the

00:36struggling chain and make it better than ever relevant compelling and exciting so he also

00:43knows as you'll hear tiktok he knows how important tiktok is to their business we want red lobster to

00:49be it's been a bumpy road a multitude of missteps led the company to bankruptcy and forced nearly

00:54100 locations to close some blamed decisions made by prior ownership of the company including

01:00ultimate endless shrimp is here my goal is to eat 65 shrimps tonight 45 trips the chain's famous

01:07endless shrimp promotion a menu feature adam alekin has notably ended one way you can't have bebop and

01:12rocksteady will take your endless shrimp promotion down oh my god my plan is to eat 150 shrimp

01:18that's a pretty cool plan mine is to eat 487 those two ladies draining the ocean oh my god jesus

01:27there's no shrimp it is unlimited because i know how to do math no matter who leads the transformation

01:33of a storied american brand would be something but with adam alekin there's another layer he's just 35

01:39years old do you ever face pushback being the young guy in the room who also happens to be the boss in

01:47the room not really um but i also don't i don't even think about it so i think i think if you if you

01:53if you're insecure about something you give it power he's ready to dive headfirst into the challenge

01:58what do you think went wrong at red lobster this wasn't a one decision that led us the company into

02:04bankruptcy i think fundamentally when a company is successful it's important to remember what made

02:09them successful adam alekin says for red lobster that's the food and the value i want to lower the

02:15check so the prices on the menu are one thing but giving people options is the more important thing

02:19right if somebody wants to come for lobster and a glass of wine what should they be spending at red

02:24lobster we should be the best deal for the best lobster because we do have the best product we buy

02:3025 of the north american lobster tail that's sold so we have the ability to make sure we get the best

02:35the new owners of red lobster the private equity firm adam alekin had been working at

02:39are investing 60 million dollars in the restaurants money he's using on what he calls

02:43a brand refresh how do you inject more energy into the dining experience right uh so that's can be

02:50lighting it can be music it can be little decor touches you'll start to see changes first

02:54incrementally and then uh over time we expect to to feel like you're being transported somewhere

03:00new but the big news a new menu launching today with some new items some removals and some

03:06revivals there's net 20 reduction but there are a lot of new items nine new items okay so we have

03:12the bacon wrapped sea scallops which is wonderful the lobster bisque which is great a couple new

03:17passes there was this guy because dave worked at red lobster dave is going to play i was going to say

03:21dave is going to play it's all done just wait it's all right over us taking off taking off

03:26every update a few years ago i'm just listen here for god's sake every update this is so exciting

03:32oh my god taking off taking off the hush puppies a few years ago so that is coming back oh so i

03:39expect the opposite of a ride i expect to stampede into our restaurants because we're bringing back

03:43the hush puppies so we know unlimited trip is gone so we're only halfway through but things like

03:47lobster fest crab fest that remains yeah this year we want to make it bigger and better than ever

03:53you know what we're calling it a five minute the greatest lobster fest of all time and maybe one

03:59day as a promotion you might do unlimited trip nobody wants to talk about it is it possible

04:05at some point absolutely anything's possible look at this and then they go make cheddar big biscuits

04:10i know more about red lobster's business plans than anything else going on this guy but i basically

04:18am his friend though i know it is true it's like we're part of the consulting group of red lobster

04:23yeah i mean any news story dave sees with oh look at that it's that young man

04:29leading the way at red lobster he hasn't done anything yet he hasn't done anything yet he hasn't

04:36kids are out of bankruptcy well yeah we know everyone gets out of bankruptcy yeah i don't

04:41think that they're gonna turn that around for some reason we know all about that and we know all

04:45about pickleball yeah pickleball and red lobster stories well you guys pick the stories then for

04:51god's sake we tried that one time i'll pick what i'm interested in

04:54give it a whirl we tried it one time that's what america's talking about right now pickleball and red

05:03lobster right now trending hashtag trending hashtag red lobster do you think that this

05:09watched a lot of that watched a lot of that guy being like and our plan is you know endless shrimp

05:16it's gone oh yeah like we know their whole plan i can tell you what their plan is i can tell just

05:20off my heart okay endless shrimp is gone they're gonna make small decor changes over time yep yep to

05:27the restaurant um eliminating stuff uh we've added a couple new things but we're basically we used to

05:33have 87 items and now we only have 37 which is great news uh all of these old chairs are gonna go

05:40we're gonna really uh spice it up we're gonna bring down the bring up the value we might be the only

05:45show that knows 25 of the north atlantic lobster purchases are from yeah isn't that fascinating i saw

05:52your face chuck you were blown away by that little tidbit chuck was like wow yeah he's fronting now but

05:59he thought that was valuable information no but the other thing is he's in the same clothing that he

06:05was in the last one so it is just like he they obviously called a bunch of different places in and

06:10they were like listen do a five minute interview with him make some cheddar bay biscuits and he just

06:15wants to do a little bit better so he can get a better ceo job oh my god yeah like if he turns this

06:20around it's not that he's not making a fortune probably for this fine let's talk about something

06:25else okay stuffing oh my god of course why not let's talk about the stuffy

06:31you

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