Luke Holden Archives - Saving Seafood

Luke’s Lobster makes foray into retail with two new offerings at Whole Foods

November 20, 2018 — New York, U.S.A.-based Luke’s Lobster is making its first big retail push with two new offerings designed to give consumers an easy way to have lobster in their own home.

Luke’s is offering a “ready-to-eat lobster kit” featuring half a pound of lobster knuckle and claw meat, a packet of Luke’s Lobster seasoning, and instructions on how to make a lobster roll in the restaurant’s style at home. The other item is a “ready-to-cook lobster tail kit” that contains two raw Maine lobster tails; some lemon garlic marinade; and tips on how to thaw, prep, and prepare grilled marinated lobster tails.

Both items are priced at USD 19.99 (EUR 17.55) and debuted in Whole Foods Markets across the country on 16 November.

“We never dreamed when we opened one tiny shack nine years ago that we’d someday be in Whole Foods Market nationwide,” Luke’s Lobster founder Luke Holden said. “It’s an honor to be able to partner with the preeminent retailer of organic and sustainable food to bring America the world’s best-tasting seafood.”

The move is the first big push by the company into retail nationwide, according to a representative for Luke’s Lobster.

Read the full story at Seafood Source

How a 25-year-old turned his ‘passion project’ into a global business with $30 million in sales

July 5, 2018 — When recent college grads Luke Holden and Ben Conniff opened a hole-in-the-wall, 200-square-foot lobster shack in New York City’s East Village in the fall of 2009, they were wholly unprepared.

The economy was still struggling and neither Holden, a 25-year-old banking analyst, nor Conniff, a 24-year-old freelance food writer, had any restaurant-management experience. The two had recently met through Craigslist and gave themselves a two-month timeframe to open their shack, which they dubbed “Luke’s Lobster.”

“We were very naive out of the gate,” Holden, the company’s CEO, recalls. “We were just a couple of inexperienced, hungry, can’t-say-no, going-to-find-the-answer-on-Google-type individuals.”

Holden had graduated from Georgetown University in 2007 and moved to New York City to work in finance. As an analyst at Cohen and Steers Capital Advisors, he eventually earned nearly $150,000 a year in salary and bonuses. At 25, he had an extremely comfortable lifestyle — but something was missing.

“He called me one day,” Holden’s dad, Jeff, tells CNBC Make It, “and said, ‘I’m making great money down here, I’ve got great friends, but I just don’t like what I’m doing.'”

Holden did have an idea he was excited about: a lobster shack. Growing up in the coastal town of Cape Elizabeth, Maine, his childhood revolved around the ocean. Restless with his corporate job and nostalgic for home, Holden decided to return to his family roots. In the summer of 2009 he started searching online for a high-quality, affordable, authentic Maine lobster roll, but was disappointed with the results. They were either too expensive (in the $30 range), poorly frozen, or had too much “mayo-celery,” Holden says.

Read the full story at CNBC

How Luke’s Lobster is Upending the World of Lobstering through a New Kind of Co-Op

March 15, 2017 — While many things can be said about the success of Luke Holden and his multi-million-dollar company, Luke’s Lobster, two things, in particular, stand out. Going into finance post-graduation isn’t the only key to making it big, and nothing is so good that it can’t be made better.

As is the case for many in the industry, Holden comes from a long line of fisherman and began his foray into the lobstering world as a kid. Following in the footsteps of his father and grandfather, Holden spent his summers lobstering in the waters off Cape Elizabeth in Maine. During a stint as an investment banker in Manhattan in 2007, he realized that high-quality, affordable lobster rolls weren’t a thing in the city.

From that moment on, he made it his mission to change the lobster roll scene, and in 2009, the first Luke’s Lobster officially opened its doors in the East Village. With little-to-no business experience and a $15,000 loan from his father, Holden and his Craigslist-found business partner made Luke’s profitable within three weeks of being in business.

Read the full story at Paste Magazine

A Restaurant’s Sales Pitch: Know Your Lobster

August 25, 2016 — It was a steamy summer day in New York in 2009 when Luke Holden, an investment banker, had a craving for a lobster roll. Not just any lobster roll, though. He longed for the “fresh off the docks” taste he enjoyed growing up in Cape Elizabeth, Me.

After an exhaustive search on New York’s streets, he came up dissatisfied and disappointed.

“Every lobster was served over a white tablecloth, extremely expensive, drowning in mayo and diluted with celery,” he said. “I wondered why all the great chefs in this city had screwed this up so badly.”

So that year, Mr. Holden decided to open an authentic Maine lobster shack in Manhattan. To replicate that fresh taste that he remembered, he would need to oversee, track and, where possible, own every step in the process.

Today, he owns 19 Luke’s Lobster restaurants, two food trucks and a lobster tail cart in the United States, and five shacks in Japan.

He holds an ownership stake in a co-op of Maine fishermen, which allows him to track where and how the lobsters are caught, and control the quality, freshness and pricing. He also owns the processing plant, Cape Seafood, that packages and prepares the lobsters for his restaurants.

“We’re able to trace every pound of seafood we serve back to the harbor where it was sustainably caught and to support fishermen we know and trust,” Mr. Holden said. “There’s no middleman in that whole chain.”

This might seem obsessive. But in business, it’s called a vertical integration strategy.

Read the full story at The New York Times

MAINE: Luke’s Lobster, fishermen’s co-op join forces as wharf gets new life

July 5, 2016 — TENANTS HARBOR, Maine — Nearly seven years after selling his first lobster roll, Cape Elizabeth native Luke Holden has opened the first Luke’s Lobster in Maine, a seasonal shack on Millers Wharf in Tenants Harbor.

Why did Holden, a 32-year-old who splits his time between New York City and Biddeford, choose to make his Maine debut in this scenic but out-of-the-way spot in coastal Knox County, 10 miles south of Thomaston? For the lobster, of course.

The Tenants Harbor shack actually sits on the wharf where 20 local lobstermen who fish Penobscot Bay will land over half a million pounds of lobster this year.

“This is about as close to the source as you can get,” said Holden, gesturing out to the lobsters sunk under the buy float just off the dock. “High-quality new shell Maine lobster. That’s my secret.”

But Luke’s has been buying lobster from a dozen Maine docks since he opened his first shack in New York City’s East Village in 2009. He could have opened a shack in any one of those places.

If he was going to come home to Maine, where most fishing villages have a good, if not great, local lobster shack, Holden wanted to do something different, something that would help the industry.

Then the owners of the wharf – the Miller brothers – and their lobstering pals gave him an opportunity to do that.

At Millers Wharf, Luke’s Lobster is now more than just a buyer. Luke’s sister company, Cape Seafood, is the guaranteed buyer of every lobster hauled by the 20 members of the newly founded Tenants Harbor Fisherman’s Co-op.

In a cooperative, fishermen bond together to split the overhead costs of running a dock, such as insurance, electricity and staffing the buy float, where boats unload their daily hauls for underwater storage.

The Tenants Harbor co-op is built to make money by shortening a lobster’s route from trap to table, eliminating middlemen such as lobster dealers and redistributing that savings to members.

Read the full story at the Portland Press Herald

Maine’s Lobster Boom Continues, Feeding Expanding Market

October 17, 2015 — As Maine’s 2015 lobster season heads for the homestretch, the iconic New England fishery continues to show surprising signs of strength while it feeds a growing market.

Mainers appear to be pulling large numbers of lobsters from the waters off their shores, continuing a long winning streak.

Marine experts point to a few likely factors behind the boom: careful fishery management; dropping populations of predators, such as cod fish; and warming temperatures in the Gulf of Maine.

Meanwhile, strong demand for lobster is surfacing in an array of places, from China, whose residents have a growing taste for lobster, to McDonald’s Corp. , which offered a fast-food lobster roll sold in New England this summer. Prices for the clawed crustaceans are up from last year, according to market experts and people connected to Maine’s fishing industry.

In 2014, lobstermen harvested about 124.4 million pounds of lobster from the water fetching an average of $3.70 a pound, according to the state’s Department of Marine Resources. The total catch was shy of an all-time record set in 2013, though the average price rose nearly 28%.

Read the full story and watch the video from The Wall Street Journal