Shopping Centers Today

APR 2015

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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If Miami-based fast-casual restaurant chain My Ceviche has its way, this fashion- able food's next stop could be Anytown, USA. "Ceviche feels like the next sushi," said Roger Duarte, who co-founded the chain in 2012 with chef Sam Gorenstein. "The wave of ceviche that we're surfing is much bigger than our surfboard." Duarte, a former investment banker, was considering ways to scale up his other Miami-based business, George Stone Crab, a home-delivery service specializing in its titular shellfish, when he noticed a dearth of seafood chains within the rapidly grow- ing fast-casual restaurant segment. Enlisting Gorenstein, who left his gig as executive chef at the stylish Raleigh Hotel to form My Ceviche, he set about filling that void. The first My Ceviche opened in 2012 next to a youth hostel on South Beach, and was followed the next year by a 900-square-foot restaurant with full seating in Brickell, Miami's financial district. With a third Miami store now operating, the chain plans to open two more, including a concession at Miami International Airport, before New Year's. EvICHE — RAW fISH marinated in citrus juices, peppers and onions — is a staple of many Latin American cuisines. In Peru and Ecuador it's considered the na- tional dish. Lately, the spicy seafood specialty has found a home in Mi- ami, where a growing corps of cevicherias have set up shop. Duarte says he expects My Ceviche's store count in the Miami–fort Lauder- dale market to reach the double digits by the end of this year. "Our goal is to reach $100 million in revenue, and then after that, we'll decide what to do with it," Du- arte said. The Northeast could be the next port of call, Duarte says, citing the District of Columbia and New York City as possi- ble target markets for the year. "We have to go to an affluent market with good purchasing power," he said. Supporting My Ceviche's growth is a recent private-equity injection from Patagonia financial Holdings, a Miami- based private equity firm, and American Regional Center Group. My Ceviche and its investors are hardly alone in sensing opportunity. Cev- ich (spelled with no "e"), a fast-casual con- C Raw talent My ceviche taps into the growing popularity of a peruvian dish By Jesse Serwer r e t a i l i n g t o d a y 26 S C t / a p r i l 2 0 1 5 P h o t o : F e l i P e C u e v a s

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