The Uruguayan restaurant that grew 1,000% in a pandemic and now seeks to reach the United States

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Magnumthe Latin word meaning big, was the term chosen by Ignacio Salvo to name his own brand. His admiration for the historical figure of Alexander the Great, the mythical Macedonian conqueror of peoples from Greece to India, was key to creating a brand dedicated to conquering more lines of business and more territories to reach with its premises and services. “The sword that is in the logo next to the M of Magnum It represents those conquests that we have made and we intend to continue concretizing”, Salvo said.

“In 2017 we opened the first place in Punta Carretas and, due to its impact, we decided to continue with the business”, pointed out the businessman. Salvo, who currently serves as the director of the brand, confirmed that at the end of 2022, they will move this location to a larger one located in Carrasco.

In 2020, in the midst of a pandemic, the businessman decided add another location in Punta del Estethis time, focused on cocktails, on a broader gastronomy in order to stop being known only for sushi, and begin to add options in bakery and pastry.

Between 2020 and 2022 the company calculates a growth of 1,000%. Asked about the performance of the brand in the two years of the pandemic when the gastronomy and events sector was one of the hardest hit, Salvo explained that “Magnum decided, faced with a silent market, to start investing with the challenge of diversifying its proposals and increase their points of sale”.

From September 2020 to the present, the brand went from having a store in Punta Carretas to opening Pedragosa Sierra and Arena Magnum (both in Punta del Este); Magnum Carrasco; and Montevideo Cloud 7 Club in Cordón. In addition, he organized seven mega-parties. Magnum venues have around 300 seats, when before the pandemic they had a venue of 60 and, in addition, they developed a line of parties for companies, in addition to private events.

From 2020 to this year, Magnum has been investing US$4 million in its different businesses, and they plan to close the year with an annual turnover of US$15 million.

“We stopped selling food a long time ago, Magnum sells experiencesSalvo said. “And he does it in every way: when we sell a sushi boat, we sell a to show; when we sell champagnewe sell a to show; when we have parties, we associate the guests with the best artists during dinner”, the businessman explained.

Bloody Mary and snacks prepared during event

Today Magnum has four restaurants, a cateringseven massive parties per year and, the latest line of business to join the brand, is a nightclub in Cordón Sohowhich opened last Thursday, September 8. That nightclub is focused on the hits of the moment and has a restaurant offer at night, “with a nearby service,” said Salvo.

Salvo also highlighted the professional support of the studios with which the brand works, and which are currently in the process of raising funds to expand Magnum to other cities abroad that are benchmarks in entertainment.

“One of the keys to Magnum’s success is the advice we have had from top-level professionals over the last year,” Salvo said. The studios that work with Magnum are Aldana- Olaso- Sapolinski & Branda (SAB) and Don Ángelo- Durán- Sasón (DDS). In turn, the company has the support of the auditing firm UHY Gubba & Asociados. The businessman announced that he is working together with these firms to put together an investment round of $20 million and, thus, manage to bring Magnum to the United States.

The goal of the brand is to arrive first in Miami, United States, in 2023. “Miami is a reference pole in the world where consumption and experience services are on the surface and, in addition, it is a city watched by Punta del Este”, Salvo defined. The businessman hopes that his proposal will be successful in Miami due to the “good performance” that Magnum achieved in Punta del Este.

After conquering Miami, Salvo intends to bring Magnum to Los Angeles and New York in 2024forward the director of the company. And, more in the long term, it also intends to disembark in Ibiza (Spain) and Monaco.