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PLANET HOLLYWOOD V. HARD ROCK CAFÉ

Hard Rock CafT and Planet Hollywood both began as themed restaurants catering to a specific niche market. Hard Rock CafT was founded in the early 1970s and focused on the music industry. Planet Hollywood was founded in the early 1990s and focused on the movie industry. Interestingly enough, a former CEO of Hard Rock CafT started Planet Hollywood, but this management expertise failed to create a long-term successful enterprise. Planet Hollywood was successful initially, and even enjoyed a brief period as a successful public company. However, it was unable to sustain the momentum that characterized its early years, and is now struggling to recover from bankruptcy. Hard Rock CafT, on the other hand, is a strong ongoing concern that has successfully entered other markets besides restaurants. Also a publicly owned company, Hard Rock CafT has succeeded where Planet Hollywood did not, and today has a well-known brand that is recognized throughout the world. This research considers the two companies, and key factors that contributed to the success of one, and the struggles of the other.

The first Hard Rock CafT opened in 1971 in London. Despite its English location, the company was founded by two Americans and focused on American food, dTcor and music during its early period. The first restaurant was successful, and the company expanded its vision to focus on rock and roll memorabilia and sensibility. The food remained casual American, and the company expanded its collecting of rock and roll collectibles so that it became a serious buyer in that market. Expansion did not begin until 11 years into its operation when the company began an international expansion that initially included the United States, France and Germany. At the same time, the company focused on selling rock and roll merchandise, and its distinctive logo t-shirts, featuring not only the Hard Rock logo but also the city where the shirt was purchased, became colle...

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PLANET HOLLYWOOD V. HARD ROCK CAFÉ. (1969, December 31). In LotsofEssays.com. Retrieved 09:11, April 22, 2019, from https://www.lotsofessays.com/viewpaper/1713246.html