The Quorum to add three clubs over the next five years, to invest ₹80-100 cr
At present, the company spends ₹7500-8500 per sq.ft. on its clubs and has about 2,300 permanent members. It has earmarked ₹80-100 crore for its next phase of expansion over the next five years
PremiumNEW DELHI: Quorum Club LLP, the company behind private members' club The Quorum, which runs two outlets in Gurgaon and Mumbai, has announced its new club in Hyderabad. The company's founder and CEO Vivek Narain told Mint that the company is now looking to add three more clubs in Delhi, Bengaluru and Goa over the next five years.
At present, the company spends ₹7500-8500 per sq.ft. on its clubs and has about 2,300 permanent members. It has earmarked ₹80-100 crore for its next phase of expansion over the next five years. The company had an undisclosed friends and family round of investment in 2016 when it was first set up. It now intends to raise more capital in the next six-eight months through a similar route.
The new outlet in Hyderabad will be in Knowledge City which has been developed by Sattva Group in partnership with Blackstone Real Estate India and will have 70,000 sq. ft of area. Narain said this will be its largest club yet.
India has a handful of luxury clubs like Soho House and The Indus Club in Mumbai and other high end residential complexes like The Camellias Club by DLF The Camellias in Gurgaon, which has about 1.4 lakh sq. ft of space. The Indian Hotel Company Limited (IHCL) owned Taj Hotels also runs The Chambers in various locations. Typically, memberships in such clubs range anywhere ₹3 lakh and ₹5 lakh for a period of five years and invite annual charges as well.
"This club was conceptualised as the quintessential third space. With this addition to our club network. The aim will be to build a community of relevant and accomplished patrons across three more locations by 2026, and our expansion into Hyderabad is a stepping-stone towards this goal," he said.
The company first started its operations in 2018 in Gurgaon followed by 2021 in Mumbai where it took over the operations of 'The A', a 40,000 sq feet club in Lower Parel’s One World Centre which was a workspace and social club.
"The space is a convergence of an office and a hotel and we are looking to build clubs in such locations which have a space for premium co-working as well as cultural events and dining and entertainment," he added. The company has also affiliated with about 60 similar clubs around the world where its members can get access.
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