The Restaurant Selling 600 Lbs. of Lobster a Week

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April 7 (Bloomberg) -- Today’s “Mystery Guests", Livanos Restaurant Group Managing Partner Paul McLaughlin discusses overseeing the daily operations at Oceana, Molyvos, and Abboccato restaurants. He speaks with Pimm Fox on Bloomberg Television's “Taking Stock.” (Source: Bloomberg)

This is "taking stock" on bloomberg.

I'm pimm fox.

Let's go to my radio host carol massar.

From news -- some news from citigroup.

Paying to mortgage securitization trusts that the bank has sponsored.

The move will result in a first quarter charge of $100 million.

Women's clothing retailers coldwater -- this is according to people with familiar with the matter.

This was after they were exploring strategic alternatives.

Coldwater creek to clients to comment on this story.

Disney's latest captain america film is at the top of the box office this weekend with a record april debut of $96.2 million.

The sequel may have some tough competition.

Captain america three is slated for may 6, 2016. the same day warner bros.

Combined superman batman movie is set to premiere.

A bit of a battle of the superheroes coming our way.

The business of beauty, carroll does not need this.

Giving the salon industry a high-tech makeover.

Looking for a beauty professional?

You can book an appointment online or via phone.

Giving the people a run, you were telling me $500 million worth of beauty appointments have already been booked?

We are the fastest growing marketplace and beauty services.

A couple of years ago, i was trying to book a haircut in san francisco.

A couple of online sites, san francisco is worth over $300. i spent over $1000 and still not happy with the way that i looked.

I booked a fourth appointment with a different scientist -- stylist and loved my experience.

Years -- it was like night and day.

They can give you amazing stylists for exactly what you're looking for.

15,000 u.s. cities, how do stylists and hair and make up individual professionals get to be part of style seat?

It is 100% free.

You can sign up for a platform, like creating an online portfolio.

List your bio and your services.

It is a great way for them to find you.

Free booking, a mobile app to run your business, you see the revenue.

We grow the average stylist revenue by 68% in the first year which is a life-changing number.

Nearly a 70% increase in the amount of money that they take in?

How do you make money act out?

The first is for premium services.

If they want fancy marketing tools and scheduling tools, they can sign up for premium between $25 and $35 a month.

How did you raise the money to start the business?

We are backed by silicon valley firms and incredible angels.

The guys that started uber, guys from great companies in the valley recognized this was something really needed.

Did they get the idea right away?

Some of them did and some of them needed some opportunities.

Silicon valley is not an act for beauty industry.

For the guys that got up early on, the early angel investors understood that there are a lot of similarities between opentable, hububer -- connecting the customer to the person that delivers the service directly with his few intermediaries is possible.

Does the rate change?

If it is a busy time of year?

Is this a flat rate?

The stylist sets the rate.

It is almost like dynamic pricing.

The stylist chooses their rate, we don't touch that.

I mentioned 15,000 u.s. locations.

Do you have to physically go in each market or do you just sit back and see where the demand is?

We have done nothing for that particular growth in the area.

Stylists have been so excited that the service drives them a lot of revenue and improve their business.

The vast majority -- dallas, houston, chicago, we are all over.

Five percent of services are done on location in a home or office.

The rest is done in salons.

They work in the best salons in the city.

And the broad range of people that access this kind of appointment scheduling?

I don't mean the professionals, but individuals that want it.

Young, old, men, women -- all over the place.

We are actually really diverse which is something we are excited about.

Style seat is at a point where we are reflective of different types of people in the industry.

Whether you are a celebrity stylist or a middle of the market stylist, we are really proud of that.

What would you like to have happen this year?


Any specific amount?

What would you like to see next year?

We did almost $300 million in appointments booked.

You could be billion-dollar material.

We will see.

The chief executive and cofounder of style seat.

Maybe you are looking to enhance your brand by using what is known as social media.

We will take a look at one company that has advised dominoes, craft -- domino's, kraft, and others on social media.

And 600 pounds of lobster a week?

? the u.s. senate will be voting for long-term jobless benefits that will reauthorize emergency benefits for five additional months.

Stay with politics for just a month.

It isn't stopping the republican party for planning ahead.

Use data mining to be the democrats by getting more information about voters.

So mattingly reports.

Telling the story of president obama's victory.

If you want to support our party -- officials and donors wasted little time demanding the resources . behind me is the team.

We have the people that work with our data that aggregate it and make sure to do quality control, that we also have data scientist.

He was overseeing a new model for clinical parties to streamline the massive amounts of voter data.

Working $17 million and recruiting effort as well as facebook and linkedin.

Our campaigns have the data they need and the predictive analytics that they need.

Streamlining the reams of data, they plan to develop and utilize constantly involving sets of -- involving sets ofevolving sets of apps.

He points to the recent special elections victory.

We expand upon it and multiply upon it.

It served as a beta test for the data platform.

They had access to the real-time data collected and purchase from vendors including your home and car purchases.

We do it at scale at a very low-cost.

The rnc think they can match the obama 2012 data mining systems and improve on them.

How do you gauge, numbers wise, what you have done?

Does this get us more information act?

Eventually, they become a donor.

When you no longer have the imperative of getting an incumbent president elected, you have a significant opportunity to win in 2014. while the republican national committee is looking for big data to help them when, my next guest is using big data to help companies advertise on social media more effectively.

They decided to streamline the social media advertising business.

Explain to someone who is not familiar with social media and advertising, what is it that they can do for their company?

We sit on top of facebook, twitter, big brands, agencies, all across different environments.

How would you do that?

I understand how that makes sense.

Let's say a pizza company comes to you and says, we don't know what to do.

There are all these different social media platforms.

We can't be sending tweets and facebook likes all day long.

It becomes an interesting question.

And where it gets really interesting is to think about how you amplify your content.

Growing the marketing dollars and relying on all kinds of interesting data.

Per pizza companies, you can leverage things like tv targeting.

And you handle all that.

You say, we will take care of the technical back-office stuff.

We will figure out a way to get it to the people.

We provide players and services for our partners.

We also do everything ourselves to make it as easy as possible.

Are you in competition with traditional advertising company?

And your complementary because they will come to you and say we are very good with the concept and we want you to do the implementation.

Social is something that complements the way people use the internet.

It helps achieve the message across different channels.

I know you went from northwestern and you started another company.

When did you come up with this idea?

An internship my junior year, i was at hbo in new york.

I saw how they were marketing and they really knew how to do billboards and tv and those things.

But with social, what is the best way to do it?

I met a cofounder in the back of up probability class.

Let's figure out a way to solve this problem?

His mom wasn't too happy at time but they send us care packages.

You gave a job offer to work for microsoft, right?

My dad was an entrepreneur and kind of got the bug at an early age.

Starting the business, it's going to be now.

What about raising the money to do this?

It takes three months to figure something out and if you made it, you go back to whatever you're doing.

It is the day that you present them.

Well done.

The chief executive.

My mystery guest will be revealed and i will give you the final clue.

I mystery guest establishment has earned nonconsecutive stars.

? mystery guest monday and i have no idea what my guest is.

The producers as been kind enough to provide us with a few clues.

Ringing back the power breakfast.

Selling 3000 oysters and 600 pounds of lobster per week.

And the establishment has earned nine consecutive stars for its seafood.

Mentioning seafood and stars, are your restauranteur.


Do you own more than one in new york city echo yes.

Are you affiliated with the seafood restaurant that goes by -- is it a chain?

It is not a chain.

But we have multiple restaurants.

Are you a family owned business?


Are you associated with -- no.

Are you in that category of restaurant?

I believe we are.

Are you in rockefeller center?




Levano family.


You also own -- a greek restaurant.

You have a restaurant in wayne, new jersey.

I don't know your name, but your last name -- it's mclaughlin.

I met them 22 years ago, we struck a partnership and have been together since.

I'm paul mclaughlin.

What is your role?

I am the managing partner and pushing forward everyday to provide a great experience for our guests.

Thank you for being here.

Tommy about the restaurant business right now and if you can, describe the different restaurant because you have different themes.

Oceana is the flagship restaurant and we have been in existence for 22 years.

It has been established for 15 or 16 years.

A retail restaurant specializing in homemade pasta.

600 pounds of lobster, 30,000 oysters?

3000 oysters a week.

We are going for 30,000. is it true to not eat oysters in a month -- most are cultivated and grown so you can have them year-round.

What is the biggest challenge in the seafood business?

Sourcing out a good product.

Good pricing in the marketplace.

We have a great buyer in the market that is a daily market for us, making purchases.

We are lucky in that matter.

What kind of trends are you hoping to -- the bar and cafe scene is one that we are very happy with.

We have seen a 20% growth rate.

People enjoying after work drinks and snacks.

They like a quality experience.

What about before you get to the bar area?

Tell me about breakfast.

We have the client and the business client that demands a high-end experience.

We are really looking forward to building that a little bit more.

I think of seamless ways to have it delivered.

It will be the normal trend.

I think that is a possibility.

Seafood is a product that does not transport all that well.

If you want the experience, you need to come to us on 49th street.

The senate has the votes to extend long-term jobless benefits.

The u.s. senate making -- taking that vote.

Stock selloff today.

More than one percent.

The nasdaq also a decline of more than one percent.

Thanks for "taking stock." i'm pimm fox.

Good night.


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