Costas Spiliadis, a 78-year-old Greek immigrant, has transformed a small restaurant in Montreal into an iconic New York seafood establishment, Estiatorio Milos. This culinary entrepreneur’s journey has been one of resilience and passion, leading him to expand his restaurant empire to include 11 locations globally, from Las Vegas to Dubai, with more in the pipeline. During a recent lunch interview at his Midtown Manhattan location on 55th Street, Spiliadis shared insights into his approach to business and his vision for the future of Milos.
Estiatorio Milos is not just a restaurant; it is a family-owned business that has become a symbol of luxury hospitality. Spiliadis and his kin own 100% of the Milos brand, distinguishing it from many other high-end restaurants that rely on outside funding for expansion. By maintaining control over every aspect of the business, from the quality of the fish they purchase to the prices they charge their customers, Milos retains more profits than its competitors. This financial stability allows Spiliadis to reinvest in the business strategically.
Unlike many restaurateurs who rush into expansion with the backing of investors, Spiliadis takes a more cautious approach to growth. He believes in using the cash flow generated by existing locations to fund new ventures, ensuring that each new restaurant reflects the core values and identity of the Milos brand. For Spiliadis, preserving the soul of his restaurants is paramount, even if it means slower growth in the short term. He understands that rapid expansion could jeopardize the reputation he has worked hard to build over five decades.
As Estiatorio Milos continues to grow, Spiliadis remains focused on pushing the boundaries of culinary excellence and hospitality. His recent partnership with growth equity firm Siddhi Capital, known for its expertise in the food and beverage industry, signals a new chapter in the evolution of the Milos brand. With plans for new locations in Palm Beach and Toronto, as well as ventures into yachting and boutique hotels, Spiliadis is positioning Milos as a global leader in luxury dining experiences.
From the classic feta-topped horiatiki salad to the grilled octopus that delights regulars at the New York City location, Estiatorio Milos embodies the essence of Greek cuisine with a modern twist. Spiliadis‘ commitment to quality, authenticity, and innovation has set Milos apart as a culinary destination like no other. As the brand continues to expand and evolve, one thing remains constant: the dedication to preserving the soul of the restaurant and honoring the legacy that Costas Spiliadis has worked tirelessly to create. Forbes‘ Fresh Take newsletter captures the essence of Milos‘ journey, celebrating its success and looking forward to the next chapter in its culinary empire.
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