Coming soon – a members-only store for the ultra rich
If you have a net worth of at least $250 million, you are eligible to join the new private membership department store chain being launched by The Guess Private Merchant Company (GPMC).
The company plans to launch a total of 40 stores over the next four years, including locations in Atlanta, Beverly Hills, Chicago, Dallas, Dubai, Hong Kong, London, Miami, Moscow, Mumbai and New York.
In addition to an unspecified membership fee, members will need to spend a minimum of $10K annually. Members will be approved by a committee and issued a platinum membership card with charging privileges. Membership will be capped at 10,000 worldwide.
Upon entering a store, members will be greeted by a concierge who will remain with them during their entire visit to make sure their needs are met.
GPMC stores will be housed in seven-story glass buildings that offer a long list of services including “a fine dining restaurant, sushi bar, coffee bar, full-service unisex salon and spa, medical clinic including dental and cosmetic services, private suites for dressing and/or overnight stays with room service, meeting rooms with secure video-conferencing, business center, theater room, photography studio, private dining rooms, fitness center, swimming pool, ballroom, secure vault room with safety deposit boxes and an on-site private bank (through licensed banking provider).”
Each floor will also have merchandise suites staffed with specialists to provide for the needs of members — men, women and children. There will be individual suites for various types of clothing and accessories, cosmetics, footwear, home furnishings, jewelry and watches.
“We are delighted to provide another offering for the ultra-affluent consumer as we continue developing ventures that will meet their demands.”
Members will also gain instant access to another venture, the GP Clubs country club concept. Each four-story club mansion includes business and video-conference centers, meeting rooms, a medical clinic, salon and sleeping suites in addition to a convenience store, dining hall and gas station. The company plans to open about 250 GP Clubs over the next two years. Sites include Arlington, VA, Atlanta, Beverly Hills, Charleston, SC, Greenwich, CT, Nashville and Orlando.
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DISCUSSION QUESTIONS: Do you see membership clubs/subscription services developed for specific demographics or personal interests becoming more prominent in retail over the next five years? What is your reaction to The Guess Private Merchant Company concept?