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Ashton Kutcher-backed group to buy Soho House for £2bn

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Ashton Kutcher-backed group to buy Soho House for £2bn


Private members’ club business Soho House is to be taken over by a group of investors including Ashton Kutcher, in a deal worth around 2.7 billion US dollars (£2 billion).

The hospitality group, which is based in London but listed on the New York Stock Exchange, confirmed that shareholders in Soho House & Co will receive nine dollars (£6.64) per share in the business.

New York-based hotel giant MCR Hotels is leading the consortium, also including private equity firm Apollo, which struck the deal to take the company private.

It will pay £2 billion to snap up the business, including its debts.

A raft of existing shareholders, including Ron Burkle, Ivy Collection boss Richard Caring and founder Nick Jones, will retain their stakes in the company.

A-list actor-turned-tech investor Mr Kutcher will also invest in Soho House as part of the deal and will join the firm’s board of directors.

MCR boss Tyler Morse will also join the board as vice chairman following the takeover.

There are Soho House sites across across the world, including this one in Barcelona (Soho House Barcelona)

Soho House was founded as a single private members’ club in the central London area in 1995 but has since expanded globally with a portfolio of exclusive venues.

The business currently runs 46 Soho House sites, eight Soho Works and Scorpios Beach Clubs in Mykonos and Bodrum. It also owns the Ned and numerous other hospitality businesses.

Andrew Carnie, chief executive of Soho House & Co, said: “This transaction reflects the strong confidence our existing and incoming shareholders have in the future of Soho House & Co, and the transformation we’ve led since becoming a public company.

“Since our IPO (initial public offering) in 2021, we’ve focused on building a stronger, more resilient business.

“I’m incredibly proud of what our teams have accomplished and am excited about our future, as we continue to be guided by our members and grounded in the spirit that makes Soho House so special.”

Mr Morse said: “All of us at MCR are excited to be part of the Soho House journey, helping to create more experiences, interactions and memories alongside friends and members.

“We have long admired Soho House for bringing together cultures from around the world into a global network of 46 houses, and we look forward to the continued growth of that fabric, starting with four new houses opening soon.”



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Forget Vande Bharat Sleeper- Indian Railways New Luxurious Coach To Set New Benchmark Of Comfort – Watch

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Forget Vande Bharat Sleeper- Indian Railways New Luxurious Coach To Set New Benchmark Of Comfort – Watch


Indian Railways is expected to roll out the Vande Bharat Sleeper for the public very soon. The Vande Bharat Sleeper is fitted with amenities that redefines the luxury of long distance travel for common people. While Indian Railways’ passengers eagerly await the Vande Bharat Sleeper launch, the public transporter has unveiled the prototype of the latest luxurious interior, which will replace the modern Vande Bharat Sleeper.

The upcoming Vande Bharat Sleeper trains will introduce redesigned upper berths aimed at making long-distance travel more comfortable and accessible for passengers of all age groups, a government official said on Wednesday. Nishank Garg, Director of the Vande Bharat Project at Kinet—the joint venture overseeing the trains’ development—told IANS that extensive passenger feedback guided the redesign process.

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“Many passengers feel the upper berth is uncomfortable and difficult to reach. We took this feedback seriously while designing the new Vande Bharat Sleeper,” Garg said. He added that the ladder to the upper berth has been re-engineered for ease of use, making it more convenient and safer. “This feature will be included in the very first train, which we plan to deliver next year. Work is progressing rapidly,” he added.

Evgeny Maslov, Chief Designer of the project at Kinet, said the design represents a step forward in redefining comfort in Indian rail travel. “Our aim is to offer a next-level travel experience. Vande Bharat is a landmark initiative for India, and this is our vision for its future,” Maslov said.

Kinet Railway Solutions—a partnership between Russia’s Transmashholding, the country’s largest rolling stock manufacturer, and India’s Rail Vikas Nigam Limited (RVNL)—has been contracted to design and produce 1,920 sleeper coaches (120 trainsets) for the Vande Bharat project. The joint venture will also maintain the coaches for the next 35 years.

Railway Minister Ashwini Vaishnaw highlighted India’s progress in railway modernisation under Prime Minister Narendra Modi’s leadership, noting that 35,000 kilometres of new track have been laid, 46,000 kilometres electrified, and 40,000 new coaches manufactured over the past 11 years.

He said the transformation reflects the government’s sustained focus on upgrading India’s railway infrastructure and passenger experience.





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Gold & silver price prediction today: Will bullish momentum of MCX Gold, MCX Silver continue ahead of Diwali? Here’s the outlook for gold, silver rates – The Times of India

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Gold & silver price prediction today: Will bullish momentum of MCX Gold, MCX Silver continue ahead of Diwali? Here’s the outlook for gold, silver rates – The Times of India


Given the ongoing geopolitical tensions, inflationary concerns, and a weak global economic outlook, gold remains a preferred safe-haven asset. (AI image)

Gold and silver price prediction today: Both gold and silver prices are exhibiting strong bullish momentum and investors should look to buy on dips, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:

MCX Gold Outlook:

MCX Gold prices are currently trading around the ₹1,27,000 mark, reflecting strong bullish momentum. On the international front, COMEX gold is comfortably holding above the $4,000 level, further reinforcing the positive trend. This price behaviour indicates that gold is consistently forming higher lows, which is a classic sign of strength in technical analysis. The ability to protect previous support levels suggests that buyers are active at lower levels, absorbing selling pressure and preparing for potential upside moves.From a short-term trading perspective, gold prices have the potential to move towards the ₹1,30,000 level if the current momentum continues. Traders can consider accumulating positions near the ₹1,26,000 support zone, where buying interest has previously emerged. A strong support base is seen at ₹1,23,500, and any dip toward this level may offer a good risk-reward entry for bullish positions.Given the ongoing geopolitical tensions, inflationary concerns, and a weak global economic outlook, gold remains a preferred safe-haven asset. These factors are likely to keep demand strong and prices buoyant in the near term. As long as prices sustain above the key support levels, the outlook for gold remains optimistic with further upside potential.

MCX Gold Trading Strategy:

  • CMP: 127000
  • Target: 130000
  • Stoploss: 123500

Buy on Dips near to 126000 for the above mentioned target

MCX Silver Outlook

MCX Silver has shown significant strength and has outperformed MCX Gold in recent sessions, currently trading around ₹1,60,000 levels. This rally reflects robust bullish sentiment driven by a combination of industrial demand, investment interest, and a positive technical setup. Silver’s strong price action suggests that market participants are confident in its upside potential, especially as it continues to make higher highs and higher lows, a clear sign of an ongoing uptrend.Compared to gold, silver tends to exhibit more volatility, which can offer attractive trading opportunities. Any corrective move or dip toward the ₹1,57,000 level can be seen as a buying opportunity, supported by strong demand and momentum. On the upside, prices have the potential to move toward ₹1,63,000 in the near term. Traders should maintain a stop-loss at ₹1,54,000 to manage risk effectively in case of unexpected price reversals.Silver’s dual role as both a precious and industrial metal makes it a favored asset in times of economic uncertainty, as well as during periods of industrial recovery. With favorable fundamentals and technical strength, silver remains well-positioned for further gains, and buying on dips strategy could prove rewarding in the current market environment.

MCX Silver Trading Strategy

  • CMP: 160000
  • Target: 163000
  • Stoploss: 154000

Buy on Dips near to 157000 for the above mentioned target(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)





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Galeries Lafayette sets foot in India with Mumbai store – The Times of India

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Galeries Lafayette sets foot in India with Mumbai store – The Times of India


MUMBAI: Parisian luxury department store Galeries Lafayette is tapping India for growth, a market it said lacks luxury retail avenues for high spending consumers who shop for a spate of labels across pricey fashion houses and shopping stores abroad.The retailer’s flagship store in Paris’s Boulevard Haussmann is the second most-visited tourist spot in the French capital after Eiffel Tower and attracts 35 million visitors a year, half of which are foreigners.Galeries Lafayette, which is launching in India through partnership with the Aditya Birla Group, will open its first store in Mumbai early next month, after eight years of studying the local market and consumer nuances.“India is a key and strategic country. It also has great opportunities in terms of growth. Indian consumers are already very interested in buying luxury brands and products. They consume them not only in India but also abroad — Dubai, Singapore, the UK, Paris and especially in Galeries Lafayette. Clearly, there is a lack of offer inside India…there are no (luxury) department stores here,” Galeries Lafayette CEO Arthur Lemoine, told TOI in an interview here.The India foray, announced three years back, comes at a time when US tariff turmoil has clouded global growth prospects, nudging companies to review strategies.Of the 67 Galeries Lafayette stores globally, 58 are in home market France with the rest of the nine outlets spread across Asia including China, Indonesia and Dubai.The luxury brand has stitched a 20-year licensing agreement with the Aditya Birla Group. “Beyond the year which are written in the contract, we are here to build the future together,” said Lemoine. The four-storey department store in south Mumbai will house a broad range of global products — from bags to beauty, apparel and accessories. From a Rs 25-lakh bag to a Rs 3,000 lipstick, the idea is to cater to the luxury consumers but also tapping into the premium cohort who are willing to upgrade to high-end brands.“Luxury in our country today stands at the threshold of transformation,” said Aditya Birla Group chairman Kumar Mangalam Birla, adding that “In the span of less than a decade, the market is set to grow over four-fold from $20 billion to almost $90 billion by 2030.”The brand play will be omni-channel to give access to a wider set of affluent consumers, many of whom are sitting in non-metros. “In India, we have pockets of consumption all across the country,” said R Sathyajit, CEO, international brands at Aditya Birla Fashion & Retail adding that the company’s own website will be launched in a couple of months.Delhi will house the next Galeries Lafayette store. Currently, the assortment at the store is global with a tilt towards French and Parisian brands. “Over a period of time, we would also like to be a platform for emerging designers in India as well. The beauty of a department store is that it evolves with time, reflecting changing generations, tastes,” Sathyajit said.





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