Nick Jones's Soho House primed for $2bn float on New York Stock Exchange

 
Alys Key
Follow Alys
Dinner In Honor Of Tracey Emin Hosted By Phillips In The Cecconi's Garden At Soho Beach House
Soho House has locations around the world (Source: Getty)

Private members' club giant Soho House is plotting a $2bn (£1.4bn) float on the New York stock market.

Founded by entrepreneur Nick Jones, the network of clubs, restaurants and workspaces has sites across the world, with recent additions including the City's new hotspot The Ned.

The company has now hired bankers from JPMorgan and Goldman Sachs to oversee funding options, Sky News first reported.

This is most likely to take the form of an initial public offering (IPO) in New York, with an announcement expected later this year.

Dinner In Honor Of Tracey Emin Hosted By Phillips In The Cecconi's Garden At Soho Beach House
Nick Jones is the founder of the clubs, which have become a hotspot for the rich and famous (Source: Getty)

The choice of New York over London is understood to be due to the US's status as a key market for future expansion.

A float could raise millions to fund the expansion of the group, which already has a presence in global locations such as Berlin, Mumbai, and New York.

The company's turnover has increased rapidly on the back of expansion, with takings up 23 per cent in 2016 to £31.7m. A similar rate of growth was shown in the first half of last year.

Originally intended as a members' club for media executives, Soho House has evolved to include cinemas, restaurants and even a range of furniture for members who want to "take the House home".

Its locations have also become party hotspots for the rich and famous, hosting bashes for the likes of Tracey Emin and Colin Firth.

Read more: Soho House founder Nick Jones says the City is cool now

Related articles