Soho House bounces back as easing lockdown restrictions brings the luvvies forward
The company behind Soho House and other celebrity hotspots has seen business recover after lockdown restrictions were lifted earlier this year.
Membership Collective Group (MCG) said revenue for the 13 weeks to July 4 was £90 million.
That is an increase of 118 percent compared to the same period last year.
MCG CEO Nick Jones (pictured above in Shoreditch House) was optimistic about the company’s prospects for the rest of the year
People have returned to the clubs and restaurants – which are open to the public – including The Ned in the City of London and Scorpios Beach Club in Mykonos, Greece.
MCG CEO Nick Jones was optimistic about the company’s prospects for the rest of the year.
He said: ‘While the rise of Covid-19 cases creates uncertainty about the shape of our recovery, the pent-up demand we’ve seen from our members so far as we reopened gives us confidence in the medium-term outlook for our company .’
The group listed in New York in July, but shares have fallen since its stock market debut, signaling concerns about whether MCG will ever turn a profit — something it has failed to achieve in its 26-year history.