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Bellini_at_Harry's_Bar

The cost of an icon

If one of the goals of a brand – and particularly a luxury brand – is to charge a premium for their goods and services, Harry’s Bar in Venice must have a very strong brand. Last week on a trip to Venice, five of us dropped in for a quick afternoon drink and came out almost 100 Euros lighter. My quick “back of the napkin” math told me that our five 8 ounce Bellinis would have most likely cost them less than 10 Euros to make. Which meant that they were making approximately a 1,000% markup on these drinks – which is impressive for any business.
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Webers_sign

What makes a brand an icon?

How does a brand gain iconic status? Is it something that you can create yourself or is it something that can only be bestowed on you by others.

These questions crossed my mind when when I stopped at Webers on the way up north last weekend. For those not familiar with Webers, they have been serving burgers and fries on the side of Highway 11 since 1963. As it was the Friday of the Thanksgiving weekend, by early afternoon it was already busy with people heading up to their cottages. It was a scene from a ritual that has been going on for almost 50 years.
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