
Members only: Inside the new playgrounds of India's rich and famous
Demand for such spaces is strong enough for the international chain Soho House to plan two new launches in the capital Delhi and in south Mumbai in the coming months. Their first offering - an ocean-facing club on Mumbai's iconic Juhu Beach - opened six years ago and is wildly successful.The chain is one of a host of new club entrants vying to cater to a market that is booming in India.Soho House started in London in the mid-90s as an antidote to the upscale gentlemen's clubs that lined Pall Mall. It came in as a refreshingly new concept: a more relaxed club for creators, thinkers and creative entrepreneurs, who might have felt like they didn't belong in the enclaves of the old aristocracy.Thirty years later, India's flourishing tech-driven economy of start-ups and creators has birthed a nouveau riche that's afforded Soho House exactly another such market opportunity."There's growth in India's young wealth, and young entrepreneurs really need a foundation to platform themselves," Kelly Wardingham, Soho House's Asia regional director, told the BBC. The "new wealthy require different things" from what the traditional gymkhanas offer.Unlike the old clubs, Soho House does not either "shut off" or let in people based on their family legacy, status, wealth or gender, she says. Members use the space as a haven to escape the bustle of Mumbai, with its rooftop pool, gym and private screening rooms as well as a plethora of gourmet food options. But they also use it to drive value from a diverse community of potential mentors and investors, or to learn new skills and attend events and seminars.Reema Maya, a young filmmaker, says her membership of the house in Mumbai - a city "where one is always jostling for space and a quiet corner in a cramped cafe" - has given her rare access to the movers and shakers of Mumbai's film industry - which might otherwise have been impossible for someone like her "without generational privilege".In fact, for years, traditional gymkhanas were closed off for the creative community. The famous Bollywood actor, the late Feroz Khan, once asked a gymkhana club in Mumbai for membership, only to be politely refused, as they didn't admit actors.Khan, taken aback by their snootiness, is said to have quipped, "If you'd watched my movies, you would know I am not much of an actor."By contrast, Soho House proudly flaunts Bollywood star Ali Fazal, a member, on its in-house magazine cover.
But beyond just a more modern, democratic ethos, high demand for these clubs is also a factor of the limited supply of the traditional gymkhanas, which are still very sought after.Waiting queues at most of them can extend "up to many years," and supply hasn't caught up to serve the country's "new crop of self-made businessmen, creative geniuses and high-flying corporate honchos", according to Ankit Kansal of Axon Developers, which recently released a report on the rise of new members-only clubs.This mismatch has led to more than two dozen new club entrants - including independent ones like Quorum and BVLD, as well as those backed by global hospitality brands like St Regis and Four Seasons - opening in India. At least half a dozen more are on their way in the next few years, according to Axon Developers.This market, the report says, is growing at nearly 10% every year, with Covid having become a big turning point, as the wealthy chose to avoid public spaces.While these spaces mark significant shifts, with their progressive membership policies and patronage of the arts, literary and independent music scene they are very much still "sanctums of modern luxury", says Axon, with admission given out by invite only or through referrals, and costing several times more than the monthly income of most Indians.At Soho House for instance, annual membership is 320,000 Indian rupees ($3,700; $2,775) - beyond what most people can afford. What's changed is that membership is based on personal accomplishment and future potential rather than family pedigree. A new self-made elite has replaced the old inheritors - but access remains largely out of reach for the average middle-class Indian.
In a way the rising take-up for these memberships reflects India's broader post-liberalisation growth story – when the country opened up to the world and discarded its socialist moorings.Growth galloped, but the rich became the biggest beneficiaries, growing even richer as inequality reached gaping proportions. It's why the country's luxury market has boomed, even as the high street struggles with tepid demand, with most Indians without money to spend on anything beyond the basics.But growing numbers of newly-minted rich present a big business opportunity.India's 797,000 high-net worth individuals are set to double in number within a couple of years - a fraction of a population of 1.4 billion, but enough to drive future growth for those building new playgrounds for the wealthy to unwind, network and live the high life.Follow BBC News India on Instagram, YouTube, X and Facebook.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
7 minutes ago
- Reuters
India's top gas importer Petronet seeks 120 billion rupee loan
NEW DELHI, July 28 (Reuters) - India's top gas importer, Petronet LNG ( opens new tab, is looking to raise a 120 billion rupee (about $1.4 billion) local currency loan to fund the expansion of a plant, its head of finance, Saurav Mitra, said in an analyst call on Monday. The company is building a petrochemical plant in India's western state of Gujarat at the cost of 206.85 billion rupees. Petronet aims to spend 300 billion rupees in the next few years, and most of that on building a petrochemical project, Mitra said. Its capital expenditure for 2026-27 would be higher than the 50 billion rupees estimated for the current fiscal year to March 2026, he said. Last week, the company's board approved setting up a 5 million tons per year LNG import terminal in the eastern state of Odisha at the cost of 63.5 billion rupees. ($1 = 86.5050 Indian rupees)


Reuters
an hour ago
- Reuters
India's Vinati Organics says accident at plant kills one
July 28 (Reuters) - India's Vinati Organics ( opens new tab said on Monday one of its employees died on Saturday at its plant in Maharashtra state in an accident during routine operations. The company does not foresee any material financial or operational impact due to the incident.


Reuters
2 hours ago
- Reuters
Rupee's modest uptick runs into dollar bids from importers, foreign banks
MUMBAI, July 28 (Reuters) - The Indian rupee nudged higher in early trading on Monday, aided by improved risk appetite, but gains were restricted by dollar demand related to importers' month-end payments and from foreign banks. The rupee was at 86.4675 against the U.S. dollar as of 10:20 a.m. IST, up slightly from its close at 86.5150 in the previous session. The local currency has weakened about 0.8% over July so far, hit by outflows from local equities alongside uncertainty about the timing of a U.S.-India trade deal, even as economies such as the European Union, Japan, Indonesia and Vietnam secured deals. Over the weekend, the U.S. struck a framework trade agreement with the EU, imposing a 15% import tariff on most EU goods. The EU also plans to invest some $600 billion in the United States and dramatically increase its purchases of U.S. energy and military equipment, President Donald Trump said on Sunday. The euro strengthened slightly against the dollar after the deal was announced. Meanwhile, the dollar index was little changed at 97.6 on the day while Asian currencies were trading mixed. The rupee is likely to hold an 86.38-86.57 range on Monday and trade with a slight depreciation bias, a trader at a state-run bank said. India's benchmark equity indexes, the BSE Sensex (.BSESN), opens new tab and Nifty 50 (.NSEI), opens new tab, nudged higher on Monday but are nursing losses of over 2.5% each on the month so far, troubled by tepid quarterly earnings and foreign portfolio outflows. A lack of strong foreign inflows, the Reserve Bank of India's ongoing unwinding of short forward dollar positions, and a quiet return to FX reserve accumulation have all weighed on the rupee, said Amit Pabari, managing director at FX advisory firm CR Forex.