Profits at Salt Bae's London restaurant dropped significantly last year, as the demand for his pricey steaks appears to be waning. Nusr-Et Steakhouse, located in the upscale Knightsbridge area, saw its earnings plummet in 2022 as the cost-of-living crisis hit its wealthy customers.
The restaurant reported a profit of £1.7 million in 2023, down from £3.3 million the previous year, with sales declining by 31%.
These financial struggles are fuelling speculation about the future of the restaurant, which has faced numerous negative reviews and criticism for its exorbitantly priced menu. Items like the £630 giant tomahawk steak and £50 gold-plated baklava have garnered attention, with some diners spending thousands on a single meal.
The London branch opened in September 2021, riding on the viral fame of Salt Bae, whose real name is Nusret Gökçe. The 41-year-old Turkish chef gained global recognition in 2017 after a video of him theatrically salting a steak went viral, earning him millions of Instagram followers and celebrity patrons such as Leonardo DiCaprio, David Beckham, and Lionel Messi.
Despite initial success, with over £8 million in sales during its first three months, the restaurant has struggled to maintain momentum, seeing a steep decline in turnover just three years later.
Gökçe's global restaurant empire, which spans 18 locations including Los Angeles, New York, Abu Dhabi, Dubai, and Mykonos, has also shown signs of instability. His New York steakhouse closed in May 2023, following the earlier closure of his Manhattan burger joint.
In the UK, the Knightsbridge venue has been met with relentless criticism, both for its prices and its overall ambiance. On TripAdvisor, Nusr-Et ranks 15,019 out of 15,426 London restaurants, with a dismal rating of 2.5 stars. Many customers have slammed the restaurant, calling the food overpriced and of poor quality. For example, the Golden Giant Tomahawk steak once sold for £1,450, and a Golden Giant Striploin went for £1,350.
One unhappy diner described their experience as "terrible," claiming the meat was tasteless and following up their £300 meal with a £5 kebab. Another lamented the "poor quality" and "small portions" after spending over £1,800 for three people. A third reviewer, who praised Gökçe’s other venues in L.A., Turkey, and Dubai, called the London branch "the worst one yet."
In response to the backlash, the restaurant introduced a more affordable menu, though prices remain high, with a burger and fries costing £45. Salt Bae's other locations can be even pricier, as demonstrated earlier this year when he shared a receipt from his Dubai restaurant totalling £85,000, with £56,000 spent on wine alone.
Before his viral fame, Gökçe was already an established figure in the food world, but it was his Instagram video of preparing an Ottoman steak that truly catapulted his career. The clip, which shows him theatrically sprinkling salt "like a cobra," has garnered over 17 million views. His signature move and fashionable appearance earned him the moniker "sexiest butcher on Instagram."
However, his attention-seeking antics have also drawn criticism. After making his way onto the pitch during Argentina's World Cup victory celebrations in 2022, where he handled the trophy and bit a winner’s medal, Gökçe faced backlash and a FIFA investigation. Reflecting on the incident, he later vowed never to step onto a World Cup pitch again.
Despite this, Salt Bae continues to flaunt his lavish lifestyle, sharing a video of his £36 million Maçka Palace in Istanbul. He also faced criticism for offering a 30% discount on his gold-wrapped steaks to students at his Boston restaurant, where the final price still exceeded $1,000.
His Instagram post, in which he posed in front of Harvard Business School, highlighted his appreciation for education despite never attending university himself. Social media users pointed out that even with the discount, most students would never be able to afford such an extravagant meal.
