The Rolling Stone Restaurant & Lounge finally made its Hollywood debut last week as the site for the American Music Awards after-party.
The restaurant and lounge, inspired by Rolling Stone magazine and scheduled for its public opening in early January, was supposed to launch during the summer. But it took longer than expected to get the Hollywood & Highland establishment red-carpet ready. Here’s what happened:
Entrepreneurs Niall Donnelly and Joe Altounian announced in December of last year that they were developing the Rolling Stone concept. Entertainment executive Aaron West and Indianapolis Colts defensive end Dwight Freeney came in as behind-the-scenes investors in the project.
West, chief executive of L.A. entertainment company An American Dream, said there were later some differences on the project’s design and target demographic. So West and Freeney took over, and Donnelly and Altounian are no longer involved, according to West.
“They were making it more of a sports bar situation,” West said. “And now, it’s a really nice restaurant and an elegant, chic lounge.”
Altounian said he left the Rolling Stone partnership on good terms. He wanted to develop other projects, which he was prevented from doing under his contract with Rolling Stone.
“I’m a visionary. I want to work with other brands,” he said.
Donnelly was unavailable for comment.
West said he hopes to open more Rolling Stone restaurant-nightclubs, first in New York then elsewhere.
The restaurant and lounge is a 10,500-square-foot multilevel space. The 140-person dining room will serve Asian- and European-inspired fare, and is decorated with tufted red leather banquettes and 1950s-style leather chairs. The two-tiered lounge includes private booths and a stage for live performances. There’s also a private room with a speakeasy theme that’ll serve as a VIP area for celebrity guests.
West licensed the Rolling Stone name, and the magazine is receiving a small percentage of the profits. He estimated that the restaurant and lounge will hit about $6 million in sales next year.
Hope Honoring
Jeff Rudes of premium denim maker J Brand usually enjoys riding bikes – the kind with loud engines that go fast.
But two weeks ago, Rudes was riding around the ballroom of the Beverly Wilshire Hotel among L.A.’s apparel elite on a different kind of bike, the kind that has pedals and a basket. Rudes jumped on the Paul Frank-decorated bike to elicit bids on it during an auction at the City of Hope’s Award of Hope gala. Rudes was the guest of honor.
“I am a big bike rider,” he said. “The only thing is they have engines and they are Harley-Davidsons.”
The City of Hope’s apparel industries group selected Rudes, co-founder and chief executive of downtown L.A.’s J Brand, for its Spirit of Life award. The event raised about $820,000 for City of Hope, an independent biomedical research, treatment and education institution based in Duarte, and drew about 400 people, including well-known retailer Ron Herman; Sunrise Fashions Chairman Gerard Guez; and his brother, Salsa Jeans Chairman Paul Guez.
“It was a great feeling to see such a turnout and see people supporting the City of Hope and honoring me,” Rudes said.
Shopping Addition
Westfield Group broke ground on a $130 million addition to the Valencia Town Center in 2008, just as the recession was breaking the back of the economy.
But Westfield executives didn’t consider delaying the project, an outdoor shopping district called Shops at the Patios. The second phase of Shops, which opened Nov. 11, includes about 55 retailers and restaurants such as high-end clothing stores BCBG Max Azria, True Religion, Michael Kors, bakery Velvet Cupcakes and Asian eatery Wokcano.
Larry Green, senior vice president of development at Westfield’s U.S. headquarters in Los Angeles, acknowledged that the company was a little concerned about the economic outlook. However, Westfield takes the long view on its shopping centers.
“You have to look beyond the cycles,” Green said.
The Shops, a 184,500-square-foot space next to the existing enclosed mall that is anchored by Macy’s, Sears and JC Penny, features water fountains, fire pits and koi ponds. The first phase opened about one year ago with about 15 shops and the larger second phase opened in November.
Green said Westfield started developing a plan to expand the Valencia Town Center in 2005, when executives concluded that residents in the area were traveling to Westfield malls in Canoga Park and Sherman Oaks to shop because the Valencia center lacked stores such as gourmet cookware retailer Williams-Sonoma.
Green said the Shops is expected to bring in $1 million in annual sales tax revenue for the city.
Staff reporter Alexa Hyland can be reached at [email protected] or at (323) 549-5225, ext. 235.
