For decades, India’s elite have gravitated towards Raj-era private clubs and gymkhanas, often located in upscale neighborhoods of major cities, hill stations, and cantonment areas.
These “English” enclaves, characterized by bellboys, butlers, dark mahogany interiors, and strict dress codes, have historically been the domain of the privileged – the established wealthy who wield influence in business and government, including tycoons, senior bureaucrats, former royals, politicians, and military officers.
Within these spaces, India’s powerful have long networked, building social capital over cigars or squash and facilitating business deals on the golf course. Today, these institutions can feel somewhat anachronistic, like relics of a colonial past in a nation eager to embrace its future.
As Asia’s third-largest economy fosters a new class of wealth creators, a more contemporary and less formal version of the private members’ club is emerging, reflecting India’s sweeping economic and demographic shifts. This is where the newly affluent are now socializing and conducting business.
The demand for such spaces is robust, prompting the international chain Soho House to plan two new locations in Delhi and South Mumbai in the coming months. Their initial venture, an oceanfront club on Mumbai’s iconic Juhu Beach, opened six years ago and has achieved considerable success.
The chain is among a number of new entrants seeking to cater to India’s burgeoning market.
Soho House was founded in London in the mid-1990s as an alternative to the traditional gentlemen’s clubs of Pall Mall, offering a more relaxed environment for creators, thinkers, and creative entrepreneurs who might have felt out of place in the enclaves of the old aristocracy.
Three decades later, India’s thriving, tech-driven economy of startups and innovators has produced a new class of wealthy individuals, providing Soho House with a similar 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. She noted that the “new wealthy require different things” compared to what traditional gymkhanas offer.
Unlike the older clubs, Soho House’s membership selection isn’t based on family lineage, status, wealth, or gender, Wardingham says. Members utilize the space as a sanctuary from the bustle of Mumbai, taking advantage of its rooftop pool, gym, private screening rooms, and gourmet dining options. They also leverage the diverse community for mentorship, investment opportunities, skill development, and access to events and seminars.
Reema Maya, a young filmmaker, says her membership in the Mumbai house – a city “where one is always jostling for space and a quiet corner in a cramped cafe” – has provided her with valuable access to key figures in Mumbai’s film industry, something that might have been impossible for someone like her “without generational privilege.”
In the past, traditional gymkhanas often excluded the creative community. The late Feroz Khan, a renowned Bollywood actor, was once denied membership to a Mumbai gymkhana because they didn’t admit actors.
Reportedly taken aback by their snobbery, Khan quipped, “If you’d watched my movies, you would know I am not much of an actor.”
In contrast, Soho House proudly features Bollywood star Ali Fazal, a member, on the cover of its in-house magazine.
Beyond a more modern and democratic ethos, the high demand for these clubs is also driven by the limited availability of traditional gymkhanas, which remain highly coveted.
Waiting lists at many of these institutions can extend for “many years,” and the supply hasn’t kept pace with 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 published a report on the rise of new members-only clubs.
This supply-demand imbalance has led to the emergence of more than two dozen new clubs, including independent ventures like Quorum and BVLD, as well as those backed by global hospitality brands like St Regis and Four Seasons. At least half a dozen more are expected to open in the coming years, according to Axon Developers.
The report indicates that this market is growing at nearly 10% annually, with the Covid-19 pandemic serving as a significant catalyst as affluent individuals sought to avoid public spaces.
While these spaces represent notable shifts with their progressive membership policies and support for the arts, literature, and independent music, they remain “sanctums of modern luxury,” according to Axon. Admission is typically by invitation or referral and costs several times the monthly income of most Indians.
For example, annual membership at Soho House costs 320,000 Indian rupees ($3,700; $2,775), a sum beyond the reach of most people.
The change lies in the fact that membership is now based on personal achievement and future potential rather than family background. A new, self-made elite has replaced the old inheritors, but access remains largely unattainable for the average middle-class Indian.
In a way, the increasing popularity of these memberships reflects India’s broader post-liberalization growth story, which began when the country opened its economy to the world and moved away from its socialist foundations.
Growth accelerated, but the wealthy benefited the most, becoming even richer as inequality widened. This has fueled the country’s luxury market boom, even as the high street struggles with weak demand, as most Indians lack the disposable income to spend on anything beyond the basics.
However, the growing ranks of the newly-minted wealthy present a significant business opportunity.
India’s 797,000 high-net-worth individuals are projected to double in number within a few years. While this represents a small fraction of the country’s 1.4 billion population, it is sufficient to drive future growth for those creating new spaces for the wealthy to relax, network, and enjoy a life of luxury.
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