Emerging Concepts, a retail real estate brokerage that has helped the likes of Puttshack, Museum of Ice Cream, Flight Club and F1 Arcade expand in the United States and United Kingdom, has a new leader as founder Mathew Focht shifts focus to investing in retail concepts.
Company executive Robert Johnson has bought half the company’s shares from Focht, assuming the role of managing partner to oversee day-to-day operations, the Chicago-based firm announced Tuesday.
Focht, who founded the company 15 years ago, will remain actively involved in Emerging Concepts while shifting his primary focus to The Emerging Fund, which he created to invest in new hospitality and retail experience brands.
The move creates a strategic partnership to accelerate the company’s growth, with Emerging Concepts and Emerging fund continuing to work in close collaboration, according to a statement.
“Emerging Concepts has been pivotal in scaling some of the most successful restaurant and entertainment concepts in the country,” Focht said in the statement, adding: “Robert has been instrumental in building our foundation over the last decade. His leadership, passion, and strategic insight make him the ideal partner to lead our next chapter.”
Emerging Concepts has been at the forefront of the rise of concepts that mix eating, drinking and activities such as high-tech miniature golf and Formula One driving simulators.
The brokerage has advised the concepts on locations, data-backed strategies and investment support. Other brands advised by Emerging Concepts include Flagship Restaurant Group, Sandbox VR, Poolhouse, Silverspot Cinemas and JF Restaurants.
“Emerging Concepts has become a preferred partner for best-in-class restaurant and retail brands growing across the country,” Johnson said in the statement. “We see real potential for growth, driven by strong demand from industry leading operators who are seeking strategic guidance on key expansion decisions, and a partner who truly cares about their long-term success.”