Smith & Wollensky: Name Change

Category: Restaurant
Brand/Client: Smith & Wollensky / Fourth Wall Restaurant Group
Lead Agency: Walrus

State of the brand's business

Back in the late 70s there were three main players in the New York steakhouse scene – The Palm, Smith & Wollensky and Peter Luger. Fast-forward to 2011 and the competition had grown to a whopping 150 in Manhattan alone.1 In that environment, it was easy to be a steak lover and never set foot in Smith & Wollensky. Fewer steak lovers trying Smith & Wollensky for the first time meant a smaller pool of possible converts to a particularly lucrative form of steakhouse patron: The Regular. This special breed of diner visits a steakhouse five or six times a year versus one or two for everyone else. Smith & Wollensky's regulars were getting older, and the new generation of young regulars were sending their business elsewhere.

Strategic challenge