Imbiba will invest in Purple Dragon, the private members club for families based in Chelsea, it was announced yesterday.
The leisure and hospitality focused investment firm has made an undisclosed ‘seven-figure’ investment in Purple Dragon. This will help the family-focused private members club open its Putney site in June. The funding will also go towards the creation of smaller additional sites, both in the UK and internationally.
Sharai Meyers, chief executive officer of Purple Dragon, said: “We are delighted to have Imbiba as our partners in the business. Their expertise as an operationally focused investor and their capabilities across operational finance, property, marketing and management provides us with an incredibly strong platform for growth. Knowing that we have the funding in place to push forward the opportunities we’ve been developing over the last year is really exciting.”
Purple Dragon opened its Chelsea site in 2011. The club’s facilities include areas for music, dance, art, design, cooking, sport and imaginative play for children and dining and socialising areas for adults.
Although the club in Putney will have the same design focus as the Chelsea club, it will be more affordably priced.
As part of the investment, Imbiba has agreed to fund the roll-out of Purple Dragon’s smaller sites across the UK and in cities such as New York and Dubai.
John Connell, chairman of Imbiba, said: “Purple Dragon is a high-quality business with a strong customer base and great potential for roll-out internationally. Sharai and her team are outstanding operators and the quality of the experience really impressed us. We are delighted to partner with them and help facilitate their growth plans.”
Imbiba’s recent investments include leisure and hospitality brands such as Drake & Morgan, Temper, Darwin & Wallace, and Camm & Hooper.