A market in Los Angeles has been named the most profitable seafood market in the world, after opening with an annual revenue of $13 million in 2017.
The market, known as SeaFarms Market, is one of the largest seafood processors in the U.S. The market opened in the heart of L.A.’s Chinatown in the early 2000s and has since expanded to include a number of markets in the Los Angeles area.
The first major seafood market to open in L.C. was on January 1, 2010.
It has now opened in 20 states and is expanding across the country.
The Los Angeles Times reports that SeaFars Market was recently awarded $100 million in tax incentives from the Federal Trade Commission, which would allow the market to grow even faster in the future.
SeaFarms market was also named one of Fast Company’s 100 Best Food Markets in the country for 2018, according to the publication.
The restaurant is located at 546 West 17th Street, Los Angeles, California.