1.

Market Growth

Global Luxury Market

• Market Size (2024): The global luxury market is projected to reach approximately €1.5 trillion in
2024, maintaining relative stability compared to the previous year.
Source: Bain & Company Press Release

• Projected CAGR (2025–2030): The luxury market is expected to grow at a compound annual growth
rate (CAGR) of 5.5% from 2025 to 2030, driven by evolving consumer preferences and emerging
markets.
Source: Mordor Intelligence

• Forecasted Market Size (2030): By 2030, the global luxury market is anticipated to reach
approximately €2 trillion (~$2.2 trillion), reflecting sustained growth across various segments.
Source: Paris Select Business

🇮🇳 Indian Luxury Market

• Market Size (2023): India's luxury market was valued at approximately $7.74 billion in 2023, marking
significant growth in consumer demand for luxury goods and services.
Source: Kearney Report

• Projected CAGR (2023–2030): The Indian luxury market is projected to grow at a compound annual
growth rate (CAGR) exceeding 15%, outpacing many established markets.
Source: Kearney Report

• Forecasted Market Size (2030): By 2030, India's luxury market is expected to reach approximately
$85 to $90 billion, driven by rising affluence and evolving consumer preferences.
Source: Economic Times Retail

2. Sector Growth

Key Growth Drivers

1. Increase in High-Net-Worth Individuals (HNWIs) and Ultra-HNWIs: The global population of HNWIs
grew by 4.7% in 2024, with significant contributions from emerging markets, fueling demand for
luxury products and services.
Source: Proven Partners Blog

2. Digital Transformation: Luxury brands are increasingly adopting digital technologies, including AI and
e-commerce platforms, to enhance customer engagement and streamline operations.
Source: McKinsey & Company

3. Experiential Luxury: Consumers are shifting preferences towards unique experiences over material
possessions, leading to growth in sectors like luxury travel and hospitality.
Source: Vogue Business

Key Challenges
1. Limited AR/VR Adoption: Despite technological advancements, the adoption of augmented and
virtual reality in the luxury sector remains limited, posing challenges for immersive customer
experiences.
Source: ScienceDirect Article

2. High Production Costs for Immersive Content: Creating high-quality, immersive digital content
requires substantial investment, which can be a barrier for many luxury brands.
Source: ScienceDirect Article

3. Traditional Consumer Mindsets: A segment of consumers continues to prefer tangible luxury goods
over digital experiences, challenging brands to balance innovation with traditional expectations.
Source: ScienceDirect Article

3. Sector Unique Selling Propositions (USPs)

Key Features

1. Ultra-High-Quality Curated Content: Luxury brands are focusing on delivering meticulously curated
content to enhance brand storytelling and customer engagement.
Source: Vogue Business

2. Invite-Only Community Access: Exclusive, invite-only communities are being established to offer
personalized experiences and foster brand loyalty among high-end consumers.
Source: Vogue Business

3. Personalized AI-Driven Feeds: Artificial intelligence is being utilized to tailor content and product
recommendations to individual consumer preferences, enhancing the shopping experience.
Source: McKinsey & Company

Key Innovations

1. AR-Enabled Magazine Covers: Augmented reality is transforming traditional print media into
interactive experiences, allowing consumers to engage with content in novel ways.
Source: Vogue Business

2. VR Full-Issue Magazines: Virtual reality offers immersive reading experiences, redefining digital
publications and enabling brands to present content in engaging formats.
Source: Vogue Business

3. Metaverse Clubhouses: Luxury brands are creating virtual spaces in the metaverse for community
engagement and exclusive events, expanding their digital presence.
Source: Vogue Business

4. Major Players

Global Leaders
• Luxury Digital Magazines: Robb Report, Tatler, Condé Nast, Elite Traveler, How To Spend It
Source: Condé Nast

• Luxury Concierge/Memberships: Quintessentially, Knightsbridge Circle, Soho House, Velocity Black

Source: Quintessentially

• Luxury Storytelling/Brand Partnerships: Condé Nast Studios, Hearst Made, Highsnobiety+

Source: Condé Nast Studios

🇮🇳 Indian Leaders

• Luxury Digital Magazines: LuxeBook, Peaklife, The Luxe Café, Hello! India, Vogue India
Source: Vogue India

• Luxury Concierge/Memberships: Indulge Global, RedBeryl, Quorum, YPO India

Source: YPO India

• Luxury Storytelling/Brand Partnerships: Vogue India Creative Solutions, Luxury Connect, HT BrandiQ
Source: Vogue India

Emerging Startups

• Luxury Digital Magazines: NFT-backed Crew Magazine, Luxion Media

Source: Luxion Media

• Luxury Concierge/Memberships: Genie Concierge India

Source: Genie Concierge

• Luxury Experiential Events: Tree of Life India

Source: Tree of Life Resorts

Top 3 Current Technologies

1. Augmented Reality (AR)

Luxury brands like Louis Vuitton use AR for virtual try-ons and interactive displays, creating immersive
and elevated shopping experiences.
[Link]

2. Virtual Reality (VR)

VR enables luxury brands to tell immersive stories. Louis Vuitton's VR content lets users explore their
brand universe in a virtual setting.
[Link]

3. AI-Powered Personalization

AI helps brands like L’Occitane deliver tailored product suggestions, driving customer satisfaction and
increased conversions.
[Link]
Top 3 Emerging Technologies

1. Wearable AR Glasses

Smart glasses are set to transform luxury interactions with real-time content and hands-free
engagement on the move.
[Link]

2. Metaverse Experiences

Brands like Gucci are building digital showrooms and virtual experiences in the metaverse, redefining
luxury storytelling.
[Link]

3. Blockchain & NFTs

Luxury brands are using blockchain and NFTs to provide digital proof of ownership and secure
product authentication.
[Link]
 Velocity Black
Velocity Black (branded Jeep pictured) is a digital luxury concierge service founded in 2014 that
combines AI and human expertise to fulfill its members’ lifestyle requests worldwide. It provides a
mobile-based personal assistant for affluent clients, offering everything from travel planning to
access to exclusive events at the press of a button. The company has delivered services in over 120
countries, aiming to save its high-net-worth members time by handling every luxury request
promptly.

1. Incorporation Date & Location: Founded in 2014 in London, UK.

2. Founder Background:

• Zia Yusuf

Education: BSc in International Relations from the London School of Economics (2009).

Professional Background: Worked at Merrill Lynch and Goldman Sachs, specializing in European
automotive and defense sectors. Rose to Executive Director at Goldman Sachs before co-founding
Velocity Black in 2014. [Link]+[Link]+[Link]+5

• Alex Macdonald

Education: Specific academic details are not publicly available.

Professional Background: Co-founded Velocity Black in 2014, an AI-powered digital concierge

platform. Post-acquisition by Capital One in 2023, he became the Co-Founder & CEO of Sequel, an
investment platform connecting athletes with startups.

3. Brand Statement (Tagline): “Pioneering the future of luxury lifestyle.” Velocity Black’s mission centers
on using technology (AI) and human specialists to enable members to “live extraordinary lives” in a
seamless, conversational way.

Unique Selling Propositions (USPs)

• Conversational AI Concierge: A proprietary mobile app/chat interface that guarantees 24/7, 1-
minute response times for member requests. This blend of AI and human “lifestyle assistants” can
instantly handle anything from Burning Man assistance to Wimbledon finals tickets.
• Exclusive Access & Perks: Members get complimentary upgrades, preferred rates, and bespoke
experiences not easily available elsewhere. Velocity Black leverages a global network to secure
extravagant requests (e.g. private dinners on icebergs or closing iconic venues for events) similar to
top-tier concierges.
• Global Reach: Delivered services in 120+ countries and caters to a highly international clientele,
positioning itself as a “members’ club reimagined for the digital age” with no geographic barriers.

4. Product Landscape (Services): Velocity Black’s product is a digital membership platform (via mobile
app and web) that acts as a personal lifestyle concierge. Members pay an annual fee (and a joining
fee, as it’s invite-only) to access a range of services: travel planning (flights, private jets, hotels),
dining reservations at top restaurants, access to VIP events (award shows, exclusive parties), luxury
retail procurement (sourcing rare luxury goods), and custom experiences/adventures around the
 world. The platform harnesses an AI-driven, curated feed of lifestyle content – “the best life has to
offer, in your pocket” – to inspire members, while a team of human “lifestyle managers” (concierge
agents) fulfill requests behind the scenes. In essence, the SKU for Velocity Black is the membership
itself (rather than physical products), available in a single elite tier that grants all-inclusive access to
its services. (There are no multiple membership tiers publicly advertised – membership is simply
exclusive to those invited and willing to pay the fee.)
5. Traction:

6. Year7. Key Developments (Users, Growth & Product Milestones)

9. Founded in London. Initial concept focused on solving the “time poverty” of affluent
professionals by handling their dining and lifestyle bookings. Launched as Velocity app for
8. 2014 premium restaurant reservations. Raised seed funding and began building a network of
high-end hospitality partners.

11. Expanded services beyond dining. Raised a $16 million Series A round to fuel growth. Grew
10. 2015 user base in London and started entry into New York and LA markets.

13. Secured a $22.5 million Series B led by DIG Investments, making it the best-funded startup
in the premium dining/lifestyle space. Offices established in New York, Los Angeles, Miami,
12. 2016 and San Francisco as the company expanded to 5 cities. Had ~59 employees globally. Focus
remained on curated dining experiences, with plans announced to enter 29 cities by 2020
(with a heavy focus on U.S. expansion).

15. Evolved into “Velocity Black” – a broader digital concierge offering travel and experiences
in addition to dining. Introduced the AI-driven chat interface and membership model,
14. 2017– turning the service into an all-encompassing lifestyle club. Grew membership among
2018 affluent millennials and Gen X seeking exclusive experiences. (By 2019, the service was fully
positioned as a digital members’ club for a limitless life.)

17. Continued rapid growth; named among FT 1000 fastest-growing European companies
(Financial Times, 2021). Serving members in 120+ countries, indicating a robust global
16. 2021 footprint. The product kept evolving with more partnerships (e.g. luxury brands, event
organizers) to broaden available experiences.

Business scaled to $30 million in net revenue, reflecting a robust uptake of its high-priced
18. 2022
memberships and services.

20. Acquisition Achieved: Capital One, the U.S. financial corporation, acquired Velocity Black
(Velocity Mobile Ltd.) for a reported $297 million. This marked a successful exit for the
19. 2023 founders and investors. Under Capital One’s umbrella, Velocity Black continues as a
concierge partner for premium clients (e.g., official concierge partner of Sports Illustrated
Experiences, per company updates).

.
 • • Age Range & Profile: Typically caters to affluent professionals, entrepreneurs,
and celebrities ranging from late 20s to 50s. Notably, many clients are tech-savvy
Millennials and younger Gen X who embrace app-based services. Co-founder Zia
Yusuf notes that “millennials are the ‘experience generation’”, indicating a strong
uptake among younger wealthy clients who prioritize unique experiences over goods.
• • Geography: The service has a global reach but is most popular in major wealth
centers – e.g. North America (USA), Europe (UK, Western Europe), and the Middle
East. Offices in the US and UK support Tier-1 city clients (New York, LA, London,
etc.), and members have used the service in 120+ countries. There is no specific
operation in India noted, but Indian or other international members can be served
remotely. The most active regions are likely the U.S. (the world’s largest luxury
hospitality market) and Europe, followed by global travel hot-spots where experiences
are curated (e.g. Iceland, Japan, Egypt as per their experience catalog).
• • Gender: Services are not gender-specific; membership is roughly balanced, serving
any individual seeking luxury experiences (both male and female HNW clients).
Marketing imagery and experiences cater to a unisex luxury lifestyle.
• • Channel & Model: The company is fundamentally D2C (direct-to-consumer) via
its app/website – members join and interact directly with Velocity Black’s platform.
There is a B2B2C element as well, especially after the Capital One acquisition: the
service can be offered as a perk to high-end credit card customers, etc. (For instance,
Capital One’s premium cardholders now have access to Velocity Black’s concierge as
a value-add service). However, there is no traditional retail presence – it’s purely a
digital service.
• Hybrid Go-to-Market: The growth of Velocity Black has been largely through
word-of-mouth and exclusivity. The invite-only model and association with elite
events create organic demand. Marketing channels include partnerships (e.g. media
features in GQ, WSJ, Tatler to bolster credibility) and referrals by existing members.
•
1.
Round
Round Trailing
Round Round
SNo. Amount 12M Investors & Facilitators
Date Name
(USD) Revenue
(USD)
Apr 10,
1 Series B $195.5K -
2022
Jan 31,
2 Series B $1.8M $9.0M
2019
Feb 23,
3 Series B $4.3M -
2018
Institutional: DIG Investment,
Nov 30, Venture Chrystal Capital
4 - -
2016 Debt Angel: John Paul, Barry
Sternlicht
Institutional: DIG Investment,
Chrystal Capital, Initial Capital
Jun 17,
5 Series B $22.5M - Angel: Barry Sternlicht, John
2016
Paul
Facilitator: Agile Equity
Institutional: Spark Capital,
Sep 23,
6 Series A $16.0M - Lerer Hippeau, O'Reilly
2015
AlphaTech Ventures
 Jul 01,
7 Series A $19.2M -
2015
Jun 17,
8 Seed $356.5K -
2014

FarFetch

Farfetch is a London-headquartered global e-commerce platform for luxury fashion, founded in

2007 by Portuguese entrepreneur José Neves. It operates a digital marketplace that connects
consumers in 190+ countries with over 1,400 luxury boutiques, brands, and department
stores worldwide. Farfetch’s platform offers an unparalleled range of designer clothing, accessories,
and beauty products, making it a one-stop shop for high-end fashion online.

• Incorporation Date & Location: Established in June 2007 in London, England.

• Founder Background:

José Neves

Education: Studied Economics at the University of Porto.

Professional Background: Founded his first tech company, Grey Matter, while at university. Launched
footwear brand Swear and opened b Store in London. Founded Farfetch in 2008, a global luxury
fashion online platform

• Brand Statement (Tagline): Marketed as “A world of luxury for endless style” – Farfetch calls
itself “the leading global marketplace for luxury”. The brand emphasizes its extensive selection of
luxury items and global reach as a unique value proposition.

• Unique Selling Propositions (USPs):

• Extensive Global Inventory: Farfetch aggregates over 100,000 luxury SKUs from a network of
independent boutiques and brands worldwide, giving customers access to items that might be locally
hard to find. Its tagline “300 boutiques, one address” (from an early campaign) highlighted this one-
stop access to diverse luxury stores.

• Marketplace Model (No Inventory): Farfetch itself holds minimal inventory – it acts as a technology
platform connecting sellers to buyers. This model allows scalability without the burden of stock,
enabling a “long tail” of luxury products and designers to reach a global audience.
• Omnichannel and Technology: Farfetch integrates online and offline luxury retail. For example, after
acquiring London boutique Browns, it worked on blending online tech with in-store experiences for
a “seamless experience”. It also invests heavily in technology (e.g. visual search, virtual try-on
through acquisitions like Wannaby) to enhance the digital luxury shopping experience.

• Localised Global Service: Ships to customers in nearly 190 countries, offering express delivery and
easy returns. Farfetch’s platform supports multiple languages and currencies, aiming to provide a
localized luxury shopping feel (e.g., strong presence in China through partnerships with Alibaba and
[Link]).

Product Landscape (SKU Analysis): Farfetch’s “product” is the online platform itself,
which offers a wide range of luxury fashion goods across various categories: womenswear,
menswear, kids, shoes, handbags, accessories, fine jewelry, watches, and even beauty (as of a
recent expansion). In terms of scale, Farfetch’s marketplace lists hundreds of thousands of
SKUs from thousands of designers – effectively, an online inventory broader than any
single luxury department store. Key aspects of the product landscape include:

• High-End Designer Fashion: All items on Farfetch are premium/luxury. Customers

can find products from top luxury Maisons (like Gucci, Prada, Chanel via boutiques)
as well as emerging designers. The curated nature ensures authentic, hard-to-find
pieces are available. For example, Farfetch connects to niche boutique stock – that
special runway piece or limited edition item can be sold on Farfetch even if only one
boutique in the world had it in stock.
• Conscious Collection: Farfetch has a dedicated “Conscious” edit focusing on
sustainable fashion and pre-owned luxury. In fact, the company reported that sales of
these Conscious products grew faster than the rest of the marketplace. It has services
for reselling or donating designer items, aligning with circular fashion trends.
• Farfetch Platform Solutions (FPS): Beyond the direct consumer marketplace,
Farfetch’s product landscape includes a B2B offering: FPS is a service where
Farfetch’s technology platform is used by luxury brands and retailers to run their own
e-commerce (for instance, it powers e-commerce for labels like Burberry and
Harrods). While not an SKU per se, it’s a product line for the company.
• Omnichannel and In-Store Technology: Through acquisitions like Browns and
partnerships, Farfetch is developing in-store innovations (smart mirrors, universal
customer login for stores, etc.). This blurs physical and digital retail – however, the
core SKU analysis remains the fashion items sold via its site/app.

• Traction:

• User & Company Growth • Revenue/Valuation • Product & Expansion

• Year
Milestones Growth Developments

• Idea formulated at Paris

• Farfetch founded by José Neves Fashion Week 2007; built
• 2007 in London (concept phase). Neves
• – platform to connect
secures initial boutique independent luxury boutiques
partnerships in London, Paris, online.
 • User & Company Growth • Revenue/Valuation • Product & Expansion
• Year
Milestones Growth Developments

NYC to prepare inventory for

launch.

• Website launched (Oct 2008)

with about 25 boutiques
onboard. Early adopters • Pioneered its marketplace
(boutiques) come from Europe model in luxury. Gained
• 2008 • –
and US. Customer traction starts attention for offering sold-out
with fashion enthusiasts seeking items online.
rare pieces. Team grows to ~5–
10 people.

• Farfetch raises Series A $4.5M to

fuel growth. Expands to US and
Brazil (opened an office in NYC;• Revenue in low tens of • Focus on building out logistics
acquired a Brazilian e-commerce millions (est.). Valuation network and multilingual sites.
• 2010
site). User base and GMV (gross grows with VC backing Introduced new categories like
merch. value) begin climbing as (~$25M pre-money est.). menswear.
more boutiques (over 100 by
2011) join.

• Surpasses 250+ boutiques on the

• Farfetch now offers global
platform, expanding supplier
shipping to 170+ countries.
network to Asia and Middle East.
• Valuation crosses $200M+ Launches a curated
• 2013 Condé Nast invests $20M (Series
mark. “Marketplace” concept
C), recognizing Farfetch’s
emphasizing boutique stories
potential. User growth
and content.
accelerates globally.

• Farfetch becomes a “unicorn”:

raises $86M (Series E) at near • Expansion into Asia: opens
$1B valuation. Platform exceeds Shanghai office. Enhances
• ~$1B valuation; revenue
$500M GMV and millions of technology – introduces
• 2015 growing rapidly (hundreds
active users. Acquires iconic personalization algorithms,
of millions).
London boutique Browns to previews “Store of the Future”
integrate physical retail retail tech concept.
innovation.

• Raises $110M (Series F) led by

• Launches Farfetch Black &
Temasek, valuing Farfetch at
White (now FPS) offering e-
$1.5B+. User growth continues,• $1.5B valuation. Revenue
commerce solutions to luxury
• 2016 with Farfetch’s customer base in still climbing (~$800M
brands. Invests in omnichannel
190 countries. >1,000 GMV).
tech and new verticals (like
boutiques/brands now on
jewelry, kidswear).
platform.
 • User & Company Growth • Revenue/Valuation • Product & Expansion
• Year
Milestones Growth Developments

• Forms strategic partnership with

• Enters Chinese market
[Link] in China – JD invests
aggressively via [Link]
$397M for a stake in Farfetch.
linkage. Also launches
This boosts Farfetch’s access to• Valuation reportedly ~$3–
• 2017 Farfetch Private Clients
the Chinese market (JD’s user 4B post-JD deal.
services (personal stylists for
base) and solidifies its “largest
top customers). Prepares for
shareholder” support. Customer
IPO.
acquisition in China grows.

• Post-IPO, Farfetch continues

• IPO on NYSE (Sept 2018):
acquisitions (e.g., buys
Farfetch goes public at an ~$5B
• Market cap ~$5B on IPO. sneaker marketplace Stadium
valuation. Raises ~$885M. The
• 2018 2018 net revenue ~$602M Goods in late 2018). Expands
IPO propels global profile; annual
(reported). Farfetch Second Life (pre-
revenue around $600M in 2018
owned service) reinforcing
(with over 1 million active users).
sustainability angle.

• Despite global pandemic, • Farfetch Platform Solutions

Farfetch sees surge in online signs major clients (Harrods,
luxury sales. Secures a $1.1B • Valuation bounces (~$10B+ etc.). Farfetch also begins
investment from Alibaba and by end of 2020 amid e- partnership to eventually
• 2020
Richemont (Nov 2020) to form a commerce boom). 2020 acquire a stake in Richemont’s
joint venture in China – further revenues ~$1.7B. Yoox-Net-a-Porter (YNAP),
boosting liquidity and reach. aiming to consolidate luxury
Active users cross 2 million. online retail.

• Growth stabilizes post-pandemic; • Launched Beauty category

Farfetch remains the largest (2022), making Farfetch a one-
• Market cap fluctuates;
luxury e-commerce player. In stop-shop for luxury fashion
• 2021– ~$15B in mid-2021, though
2021, it records $4.2B GMV and and beauty. Pushed further on
2022 decreased by 2022.
over 3.7M active customers. sustainability goals (aiming
Revenues ~$2.3B (2021).
Focus on profitability and for 100% of products to be
integration of past acquisitions. Conscious by 2030).

• Ongoing integration of YNAP

• Continues global operations in
partnership (subject to
~190 countries, though faces
• Farfetch’s valuation has regulatory approvals).
macroeconomic headwinds in
seen correction (stock Farfetch’s platform strategy
luxury sector. Implements cost
lower in 2023 vs IPO), but solidified – it is the leading
• 2023 optimizations. Still, Farfetch is
the company remains a online luxury fashion
the go-to platform for luxury
multi-billion dollar marketplace, with unmatched
boutiques worldwide. Explores
enterprise in revenue. catalog breadth and a loyal
deeper integration of its tech in
base of high-spending fashion
partner stores.
consumers.
 • Target Customer: Fashion-conscious luxury shoppers worldwide. Farfetch’s typical consumers
are affluent and style-savvy individuals, often in the upper-middle to high income brackets.
They include both men and women (the platform serves all genders and age groups,
including a childrenswear segment). The core age range is roughly 25–45, skewed toward
millennials and Gen X who are comfortable shopping online. Farfetch also caters to Gen Z
luxury buyers through streetwear and sneaker offerings (post-Stadium Goods acquisition)
and via its trendy brand mix.
• Geographical Presence: Farfetch is inherently global. Its strongest markets include the
United States, Western Europe (UK, France, Italy, etc.), China, and other parts of Asia (Hong
Kong, Japan, Middle East). Farfetch has localized sites/apps for major regions, supports 15+
languages and ships to Tier-1 and Tier-2 cities alike in 190+ countries. Tier-1 cities (New York,
London, Shanghai, Dubai, etc.) are major sources of orders, but the platform also reaches
smaller markets where local access to luxury is limited (e.g. customers in Tier-2 cities in
emerging markets can buy via Farfetch). In India, Farfetch does ship and has customers, but
India is not a core market (due to import duties, etc.); however, Indian fashion enthusiasts do
use Farfetch for items not available locally.
• Channels: Farfetch is 100% online/D2C for the consumer side. Sales occur through
[Link] website and mobile app. There are no Farfetch-branded physical stores
(though they own Browns which has stores in London, and some popup events). Farfetch
relies heavily on digital marketing, social media, and word-of-mouth among fashion
communities. It also leverages content (Farfetch editorial, influencers) to draw customers. On
the supply side, Farfetch’s channel is B2B partnerships – it onboards boutiques and brands
who integrate their stock to the platform (sometimes via API or Farfetch’s inventory system).
• B2B/B2C/Hybrid: We can consider Farfetch’s model B2B2C – it provides a B2B service to
boutiques (helping them sell online) while being B2C facing to shoppers. Additionally, via
Farfetch Platform Solutions, it functions as a B2B service provider to luxury brands for their
direct e-commerce. But the main revenue is driven by B2C transactions on the marketplace.
• Demographics and Behavior: Farfetch’s customers are roughly 60% female / 40% male in
terms of fashion purchases (women’s fashion typically dominates luxury sales, but Farfetch
has a strong menswear following too). Average order values are high (hundreds of dollars per
order). These customers value authenticity, selection, and convenience over bargain pricing
– Farfetch generally sells at full price (not a discounter). The “Conscious luxury” segment is
growing, showing many Farfetch customers are environmentally and socially aware. Also,
Farfetch’s Private Client segment (top spenders) receive personal shopper attention,
indicating a tier of VVIP customers that drive significant sales.
• Go-to-Market / Brand: Farfetch’s brand is known globally; it often markets itself as a tech-
forward luxury platform. It partners with fashion weeks, sponsors events, and uses PR (e.g.,
stories of rare items sold for huge sums) to stay in the news. The trust from both boutiques
and consumers is a crucial aspect of its go-to-market strategy – Farfetch had to convince
traditional boutiques to come online and luxury buyers to trust online orders. Over time, it
succeeded and became synonymous with online luxury shopping.

Round Round
Round Pre- Post-
Round Round Investors &
SNo. Amount Money Money
Date Name Facilitators
(USD) Valuation Valuation
(USD) (USD)
 Apr 27,
1 Post IPO $350.0M - -
2020
Institutional:
Jan 30, Dragoneer
2 Post IPO $250.0M - -
2020 Investment Group
Corporate: Tencent
Aug 09, Conventional Corporate: J P
3 $336.1M - -
2019 Debt Morgan
Feb 19,
4 Series G - - - Corporate: Chanel
2018
Jun 22, Corporate: [Link]
5 Series G $397.0M - -
2017 Facilitator: Orrick
Institutional:
Temasek, Eurazeo,
Vitruvian Partners,
May 04, IDG Capital
6 Series F $110.0M 1.4B 1.5B
2016 Corporate: Sallfort
Privatbank
Facilitator: Qatalyst
Partners
Conventional Institutional:
7 May 2016 $50.0M - -
Debt TriplePoint Capital

8 2015 Series E - - - Institutional: FJ Labs

Institutional: DST
Global, Vitruvian
Mar 04,
9 Series E $86.0M 914.0M 1.0B Partners
2015
Corporate: Conde
Nast
Dec 18, Institutional:
10 Series D $6.1M - -
2014 Headline, Greycroft
Institutional:
Vitruvian Partners,
Advent Venture
May 01, Partners
11 Series D $66.0M - -
2014 Corporate: Conde
Nast
Facilitator: Agile
Equity
Institutional: Index
Ventures, Headline,
Mar 04,
12 Series C $20.0M - - Advent Life Sciences
2013
Corporate: Conde
Nast
Institutional: Index
Jan 16, Ventures,
13 Series B $18.0M - -
2012 Headline, Advent
Life Sciences
Institutional:
Advent Venture
14 Jul 09, 2010 Series A $6.0M - -
Partners
Facilitator: HMT
 Quintessentially
Quintessentially is a pioneer of luxury concierge services, founded in 2000 in London. Over two
decades, it has become one of the world’s best-known lifestyle management companies,
synonymous with ultra-exclusive service. Quintessentially operates a global network of offices and
concierge teams catering to VIP clients 24/7. It is renowned for fulfilling “anything, anytime,
anywhere” requests – from closing the Sydney Harbour Bridge for a private proposal to arranging
dinners on icebergs – thereby positioning itself as the go-to concierge for the ultra-rich.

• Incorporation Date & Location: Incorporated in late 2000 (launched December 2000) in London, UK.

• Founder Background:
a. Ben Elliot

Education: Attended Eton College and earned a BSc from the University of Bristol.

Professional Background: Co-founded Quintessentially Group in 2000. Served as Co-Chairman of the

Conservative Party (2019–2022). Appointed as the UK government's first Food Surplus and Waste
Champion in 2018.

b. Aaron Simpson

Education: Studied at Oxford University.

Professional Background: Former film producer with experience at Scala Films and Rocket Pictures.
Co-founded Quintessentially Group in 2000 and serves as its Executive Chairman.
[Link]+[Link]+[Link]+2

c. Paul Drummond

Education: Specific academic details are not publicly available.

Professional Background: Co-founded Quintessentially Group in 2000. Served as Group Commercial

Director until his resignation in 2021.

Co-founded by Ben Elliot, Paul Drummond, and Aaron Simpson. The founders came from affluent
and entrepreneurial backgrounds – for instance, Ben Elliot (the nephew of the British Queen
Consort) is a prominent businessman and later entered politics, and Aaron Simpson had a film
production background. Their combined networks helped establish Quintessentially as a VIP
members’ club from the outset.

• Brand Statement (Tagline): Quintessentially’s ethos can be summed up as “redefining excellence

through bespoke concierge services.” While not always stated in a single tagline, the brand often
emphasizes “Luxury lifestyle services, 24/7/365, worldwide” in its materials. The name itself implies
delivering the quintessential experience in every aspect of life.

• Unique Selling Propositions (USPs):

• Unmatched Global Presence: Quintessentially boasts over 60 offices worldwide (as of mid-2020s)
and a team of 1,500+ specialist “lifestyle managers”. This footprint allows it to offer truly local
expertise and access in all major luxury capitals (from New York, London, and Dubai to lesser-known
locales). Wherever a client travels, Quintessentially has connections on the ground.
• 24/7 Personalised Service: Every member is typically assigned a dedicated lifestyle manager.
Requests are handled round-the-clock. The service is highly personalized – concierges often know
clients’ preferences in detail, ensuring tailored recommendations. The firm’s average client net
worth (~$36 M) speaks to the tier of personalization and discretion expected.

• Extreme Access & Influence: Quintessentially has built a reputation on saying “Yes” to almost any
request. Its network can unlock sold-out events, exclusive venues, luxury travel experiences, rare
items, and once-in-a-lifetime events. For example, the company arranged a private tour of the
Sistine Chapel and even a renewal of wedding vows officiated by the Pope for a client – the sort of
extraordinary feat that sets it apart.

• Diversified Luxury Services: Over time, Quintessentially expanded into related businesses
– Quintessentially Travel, Quintessentially Estates (real estate), Quintessentially Wine, etc. – to
offer end-to-end lifestyle solutions. This ecosystem approach means members can rely on
Quintessentially for anything from relocating to a new city, to managing a wine collection, all under
one brand.

• Product Landscape:

Membership Tiers: Quintessentially typically offers three main tiers of private membership:

• Standard (Core) Membership: Sometimes called the “General” membership, costing around
$1,500 per year (approx £1,000). This gives members basic access to the concierge service,
suitable for those who need occasional assistance. Response might be via a team rather than
a dedicated manager, and some ultra-exclusive requests may be out of scope at this level.

• Elite Membership: Often referred to as “Dedicated” or “Elite”, priced around $5,000–

$10,000 per year (exact pricing varies by region). This tier provides a named lifestyle
manager and more proactive service. Most Quintessentially clients fall in this bracket, getting
high-touch support for frequent requests. Turnaround is faster and access is broader (for
example, better chance at last-minute impossible tickets).

• Bespoke or Global Elite: This is the top-tier membership costing up to $45,000–$50,000 per
year. It is highly personalized – effectively 24/7 on-call dedicated team, and can include
multiple lifestyle managers in different time zones for a single client. These members get the
highest priority and nearly unlimited service (anything legal, ethical is promised to be
fulfilled). Often this tier is by invitation or tailored per client (some ultra high spenders might
even pay above $50k for even more exclusive arrangements). For example, a $40k/year
“Elite” package was noted for US members, which included a key lifestyle manager in a city
of their choice.

Additionally, Corporate Memberships are offered to companies (where a business can have
Quintessentially handle VIP client hospitality or employee work-life services). There are also
bespoke event services one can purchase without full membership (like hiring Quintessentially to
plan a one-off luxury event).
• Traction:

• Year• User/Company Growth Highlights • Notable Developments and Milestones

• Launch in London: Quintessentially opens its • Founders set up the 24-hour London call
doors as a small concierge service catering to center. Early requests fulfilled included hard-
London’s elite. Gains first members through to-get restaurant tables and exclusive
• 2000 founders’ networks (socialites, financiers in nightclub access – building a reputation for
London). Within the first year, membership “accessing the inaccessible.” Ben Elliot’s
grows to a few hundred, as the concept of society connections and Aaron Simpson’s
24/7 lifestyle concierge is novel and alluring. event links drive initial success.

• International Expansion: By 2003,

Quintessentially opens offices in New York and• Diversification begins – added dedicated
Hong Kong, marking the start of global Travel and Events divisions to handle
expansion. Through a mix of franchises and specialized requests. Quintessentially’s name
• 2003–
joint ventures, it enters markets like Dubai, becomes synonymous with luxury concierge.
2005
Singapore, and Moscow by 2005. They start partnering with luxury brands for
Membership surpasses 5,000 worldwide as member perks (e.g., exclusive shopping events
UHNW individuals in various countries sign with fashion houses).
up.

• Noteworthy requests handled (as revealed

• Growth in Asia and Middle East: Offices later in interviews) include things like
launched in India (Mumbai) and China, delivering a tie by private jet to a forgetful
tapping into newly wealthy classes there. The client, arranging dinner on the Great Wall of
• 2007 member base in Middle East also booms China – these stories circulate and enhance
(Quintessentially becomes popular among the mystique. Ben Elliot and team also launch
wealthy families in UAE, Saudi Arabia, Qatar). the Quintessentially Foundation around this
Total offices ~30 by 2007. time, channeling the group’s influence toward
charity.

• 10th Anniversary: Now a firmly established• Company structure evolves into

global entity, with ~50 offices and thousands Quintessentially Group, housing multiple
of members. Quintessentially’s staff count is services (Concierge, Events, Estates (property
• 2010
in the hundreds. Co-founder Ben Elliot is search), Education consulting, Art advisory,
recognized in media as a leading luxury etc.). The membership model proves highly
entrepreneur. profitable, and renewal rates are high.

• Quintessentially leverages technology more:

introduces a member app and digital
• Continued Dominance: Quintessentially concierge platform for easier request
remains the largest concierge service tracking. However, the personal touch
worldwide. Membership tiers now formalized remains core. The brand’s quinceañera (15-
• 2015
(general vs dedicated vs elite). By 2015, year mark) is celebrated with PR showing off
average membership cost has increased; some extreme requests fulfilled (e.g.,
many clients opt for elite service at ~$25k/yr. arranging a flash mob marriage proposal in
Times Square, renting the whole of the Louvre
for a private tour, etc.).
• Year• User/Company Growth Highlights • Notable Developments and Milestones

• •
High-Profile Leadership & Clients: Annastasia Media highlights include a South China
Seebohm becomes global CEO (one of the Morning Post feature on concierge clubs
youngest female CEOs in luxury) – reflecting where Quintessentially is front and center,
the company’s modern outlook. stating “membership ranges up to
• 2017 Quintessentially by now serves over 100k $50k/year”. Also around this time, co-founder
requests a year for its members. China Ben Elliot begins stepping back from daily
becomes one of its fastest-growing markets, operations (later moving into a political role).
as cited in interviews; Chinese elite members Quintessentially’s brand is so strong it faces
pay up to $50k/yr. little direct competition at the very high end.

• Adapting to Pandemic: COVID-19 disrupts

travel and events, core parts of • Despite a challenging year, Quintessentially’s
Quintessentially’s services. The company concept of saving time is perhaps more
pivots to assist with more essential services valued. The concept of digital concierge
(like private COVID test arrangements, accelerated – more members use the app and
• 2020
lockdown entertainment, etc.). Still retains online portal since face-to-face was limited.
most members, proving its value even during Quintessentially also likely streamlined some
lockdowns by helping with things like virtual operations and cut costs, but publicly
experiences and personal shopping delivered remained robust.
to home.

• Quintessentially continues to handle

remarkable requests – recent examples
include organizing a private audience with
the Pope for a member and arranging an
• Present Day: Quintessentially celebrates over entire pop-up five-star restaurant on a remote
20 years in business, maintaining its status as island for a client’s anniversary. The
“the world’s leading lifestyle management company’s focus now is on the next
group.” It has 35+ offices actively operating generation of clients (millennial millionaires),
• 2023 and clients in over 50 countries. The member ensuring services align with their interests
portal and app now incorporate AI for faster (like sustainable travel, experiential luxury).
matching of requests to solutions, but each Quintessentially remains privately owned;
member still has a human lifestyle manager rumors of an IPO have come and gone, but it
as key contact. stays exclusive and member-funded. In 2023,
it underscores that with over two decades of
know-how, it can cater to even the most
unusual demands, keeping its slogan of
granting “unprecedented access” alive.
• Sales Channels & Target Customers: Quintessentially operates on a B2C membership model –
individuals (or sometimes corporations on behalf of executives) pay annual fees for access. Its target
demographic is the ultra-high-net-worth (UHNW) segment: typically individuals with tens of millions
in net worth, including CEOs, philanthropists, celebrities, royalty, etc. Age-wise, many clients are in
their 40s, 50s, and 60s (established wealth), though younger millionaires are also part of the mix. The
service is slightly skewed towards male clients (given the demographics of UHNW globally), but
certainly not exclusively – many women and families are clients too.

• Geography: Truly global – key markets include the UK and Europe, US, Middle East (a significant
client base in GCC countries), Asia (China, India), and Russia. Quintessentially often uses word-of-
mouth and invitation networks to grow (e.g. partnering with luxury residential projects or private
banks to sign up new members).

• Besides B2C, it has a B2B2C component: e.g. Quintessentially might be contracted to provide
concierge services to a luxury brand’s top customers or a property developer’s residents (as in the
Lodha World One residence tie-up in Mumbai). These partnerships extend its reach to high-end
customers via other luxury businesses (a hybrid go-to-market approach).

Round Round Trailing

Round Round Investors &
SNo. Amount 12M Revenue
Date Name Facilitators
(USD) (USD)
Sep
1 23, Unattributed $2.0M $33.6M
2015
 RedBeryl
RedBeryl is an Indian luxury lifestyle concierge startup aimed at “leading the conversation” in luxury
concierge for the country’s wealthy elite. Founded in 2019 and launched in 2023 by Manoj Adlakha –
the former CEO of American Express India – RedBeryl positions itself as an invitation-only members
club for ultra-high-net-worth individuals. The brand’s name (a rare gemstone) reflects its exclusivity.
RedBeryl’s services range from procuring rare luxury goods to organizing extravagant experiences,
tailored for the new generation of wealthy in India.

• Incorporation Date & Location: Founded in 2019 (began operations in 2023) in New Delhi, India.

• Founder Background:
Manoj Adlakha
Education: SRCC [Link] Hons 1986, Chartered Accountant in 1989

Professional Background: Over three decades of experience with organizations like American
Express, Visa, and Yes Bank. Served as CEO of American Express Banking Corp India, leading premium
services including the Centurion Black Card. Founded RedBeryl in 2023 to offer luxury lifestyle
services.

• Brand Statement (Tagline): RedBeryl markets itself with an aura of exclusivity. A snippet from the
company describes RedBeryl as “the grandest ever invitation-only membership… offering
unparalleled privileges” in the world of luxury lifestyle. The brand messaging emphasizes bespoke
luxury and being “by invitation only” at its top tier, indicating that membership is a privilege in itself.

• Unique Selling Propositions (USPs):

• Exclusive Membership Tiers: RedBeryl has a two-tier membership: RedBeryl Red (invitation-only,
ultra-exclusive) and RedBeryl Black (apply-to-join elite tier). This stratification allows it to offer
heightened personalization to Red members (who pay more and are often VIPs like industrialists or
celebrities). The exclusivity of the Red tier (limited slots, invite only) creates a cachet among India’s
rich.

• Ultra-Personalized Services: As a concierge for UHNIs, RedBeryl promises end-to-end handling of

virtually any request. This can mean sourcing impossibly rare luxury items (e.g. authenticating and
obtaining eight Birkin bags for a client), arranging VIP access to global events (like securing tickets for
Bruce Springsteen’s Wembley concert), or managing highly specific travel and lifestyle needs. The
company prides itself on a “no ask is too large” approach for members.

• Domestic Focus with Global Reach: RedBeryl distinguishes itself by understanding the Indian luxury
consumer’s needs deeply – for instance, catering to cultural preferences, family-oriented requests,
etc., which global concierge firms might not personalize. At the same time, it provides global reach
(through partnerships or affiliates) so that an Indian client traveling abroad gets the same level of
access internationally. This hybrid of local insight and global capability is a key USP in the Indian
context.

• Discretion and Network: Given the founder’s background, RedBeryl has built a strong network with
luxury brands, high-end hotels, airlines, and even government contacts (for visas or security
arrangements). This network, combined with a promise of strict confidentiality, is a selling point to
high-profile clients in India who require trust and privacy.

•
• Product Landscape:
Membership Tiers:

• RedBeryl Black Card: This is a paid membership that anyone meeting the profile can apply for. It
carries an initial joining fee (approximately ₹1.5–1.9 lakh one-time) and an annual fee of ~₹90,000
(plus taxes). The Black Card offers core concierge services and benefits valued at up to ₹1.17 million
per year (as per marketing).

• RedBeryl Red Card: This is the by-invitation elite card, targeting UHNIs and prominent figures. It has a
much higher fee (as noted, ~₹5 lakh joining, ₹1.9 lakh annually) and is capped at 500 members. Red
Card members get all Black benefits plus extra exclusives (like dedicated senior lifestyle managers,
higher-value perks, and perhaps equity-like participation in special events). This tier is akin to an
inner circle of VIP clients.

• Service Portfolio: Upon subscribing, members gain access to RedBeryl’s 24/7 concierge helpdesk
(reachable via phone, email, and likely a mobile app/WhatsApp). The services span: Travel (luxury
travel planning, villa rentals, chartered flights, visa assistance), Hospitality (hotel/VIP lounge
bookings with upgrades, destination management), Dining (curated fine-dining experiences, priority
reservations at top restaurants), Entertainment & Events (invitations or tickets to red-carpet events,
concerts, sports events; meet-and-greet opportunities), Shopping Assistance (personal shopper
services, sourcing limited-edition luxury goods globally, customs and import help for purchases), and
Daily Lifestyle Needs (from hiring domestic staff to wellness appointments, etc.). Essentially,
RedBeryl acts as a one-stop lifestyle manager, whether the request is ordinary (say, fixing a last-
minute dinner date) or extraordinary (like arranging a private screening at Cannes). The company
even mentions providing access to high-octane automobiles, private jets, and yachts for members.

• Technology & Interface: While the service is very high-touch, RedBeryl likely uses a mobile app or
a web portal for members to place requests (similar startups use WhatsApp or in-app chat). The
emphasis, however, is on personal interaction. Technology is used to manage requests internally and
track member preferences, but the member experience remains one of speaking to a dedicated
concierge who handles things behind the scenes.

• Traction:

Membership Tiers:

• RedBeryl Black Card: This is a paid membership that anyone meeting the profile can apply
for. It carries an initial joining fee (approximately ₹1.5–1.9 lakh one-time) and an annual fee
of ~₹90,000 (plus taxes). The Black Card offers core concierge services and benefits valued at
up to ₹1.17 million per year (as per marketing).

• RedBeryl Red Card: This is the by-invitation elite card, targeting UHNIs and prominent
figures. It has a much higher fee (as noted, ~₹5 lakh joining, ₹1.9 lakh annually) and is
capped at 500 members. Red Card members get all Black benefits plus extra exclusives (like
dedicated senior lifestyle managers, higher-value perks, and perhaps equity-like participation
in special events). This tier is akin to an inner circle of VIP clients.

Service Portfolio: Upon subscribing, members gain access to RedBeryl’s 24/7 concierge helpdesk
(reachable via phone, email, and likely a mobile app/WhatsApp). The services span: Travel (luxury
travel planning, villa rentals, chartered flights, visa assistance), Hospitality (hotel/VIP lounge
bookings with upgrades, destination management), Dining (curated fine-dining experiences, priority
reservations at top restaurants), Entertainment & Events (invitations or tickets to red-carpet events,
concerts, sports events; meet-and-greet opportunities), Shopping Assistance (personal shopper
services, sourcing limited-edition luxury goods globally, customs and import help for purchases), and
Daily Lifestyle Needs (from hiring domestic staff to wellness appointments, etc.). Essentially,
RedBeryl acts as a one-stop lifestyle manager, whether the request is ordinary (say, fixing a last-
minute dinner date) or extraordinary (like arranging a private screening at Cannes). The company
even mentions providing access to high-octane automobiles, private jets, and yachts for members.

Technology & Interface: While the service is very high-touch, RedBeryl likely uses a mobile app or a
web portal for members to place requests (similar startups use WhatsApp or in-app chat). The
emphasis, however, is on personal interaction. Technology is used to manage requests internally and
track member preferences, but the member experience remains one of speaking to a dedicated
concierge who handles things behind the scenes.

Company Growth & Product Development & Notable

Year User/Member Growth
Milestones Events

Founded: RedBeryl Lifestyle Conceptualized the RedBeryl

Services Pvt. Ltd. incorporated service model, leveraging
in India by Manoj Adlakha. founder’s industry contacts.
2019 –
Initial team setup and planning Began building partnerships with
phase. Offices established in hotels, airlines, luxury service
Delhi. providers.

Early operations commence. Fine-tuning of service offerings.

First beta members
Manoj Adlakha featured Likely launched the RedBeryl
onboarded (likely a small
among Top 100 leaders in Black Membership tier for initial
2020 number of founder’s ex-
Indian Luxury (2020), which clients. Focus on curating a
clients and acquaintances
helps put RedBeryl on the network of partners and training
as test users).
radar of HNW circles. concierge staff.

Added service verticals – e.g. tie-

Membership grows
ups for medical concierge (air
modestly (dozens of
Growth in brand visibility. ambulances) and niche services
members). The brand
RedBeryl starts marketing to as the pandemic increased
begins to attract high-net-
2021 the affluent segment in India demand for certain logistics (this
worth individuals in metros
via luxury magazines and inferred from broader concierge
like Mumbai, Delhi,
partnerships. trends). Continued to refine the
Bangalore through word-of-
tech platform for handling
mouth.
requests.

Public Launch & Membership By late 2022, RedBeryl Service portfolio fully developed:
Drive: RedBeryl formally reportedly had 3 ultra-rich 24/7 concierge operations across
2022 launches its membership plans clients actively using its India and abroad. RedBeryl
to a wider audience. The services (as per anecdote, begins showcasing success stories
RedBeryl Black Card is possibly referring to Red (e.g., luxury experiences
promoted (priced ~₹1.5L Card holders). Overall executed for clients) to build
 Company Growth & Product Development & Notable
Year User/Member Growth
Milestones Events

joining, 90k annual). paying members likely in credibility. Also, company forays
Meanwhile, the ultra-exclusive the low hundreds as the into Shark Tank India audition or
Red Card is introduced as concept gains traction other investor forums to seek
invitation-only, though still in among India’s HNI funding for expansion (noted that
very limited circulation (just a community. Indulge, a competitor, appeared
handful of invites extended to on Shark Tank; RedBeryl’s TV
marquee clients). presence not confirmed).

Scale-Up and Recognition: Rolled out new features: e.g., a

RedBeryl’s operations now digital membership card/mobile
span 85 Indian cities and 25 app for members to request
international destinations, Membership count grows services easily. Enhanced lifestyle
indicating a robust partner into the hundreds. Black offerings such as exclusive driving
network and ability to serve Card members form the experiences (luxury car track
clients virtually anywhere. The majority, while Red Card days) and private events for
company is featured as “Most membership remains under members. By end of 2023,
2023 Innovative Company of the 50 (invitees include ultra- RedBeryl has a firmly established
Year 2023” by Prime Insights HNIs, celebrities, brand among India’s luxury
magazine, highlighting its industrialists). Client concierge providers (often
unique approach in the luxury satisfaction and retention mentioned alongside global
space. The brand also enters appear high, with many players like Quintessentially in
partnerships (e.g., with renewing memberships. media). Plans laid for further
DreamFolks, an airport service expansion in the Middle East and
aggregator, to offer RedBeryl’s Southeast Asia to serve wealthy
experiences to their clientele). Indian diaspora.

Potential introduction of
(Ongoing) RedBeryl continues corporate membership solutions
to expand its member base (for businesses who want
Aiming for 200+ members,
and services. Likely exploring concierge for executives) and
including more corporates
2024 strategic alliances or funding to further personalization via AI (to
(perhaps family offices)
accelerate growth. The luxury pre-empt member needs).
signing up for services.
concierge market in India RedBeryl’s journey is still early,
grows as awareness increases. with focus on scaling while
maintaining service quality.

Sales Channels & Target Customers: RedBeryl’s model is predominantly B2C (direct-to-consumer),
aimed at serving High-Net-Worth Individuals (HNIs) and Ultra-HNIs in India and abroad. Below is a
breakdown of its target demographics and channels:
• Target Customer Profile: RedBeryl targets the elite segment – typically individuals with a net worth
in the tens of millions (INR) and above. These include business magnates, C-suite executives,
celebrities, and aristocrats who seek personalized service. The age range is usually thirty-plus (30s to
60s); many clients are established wealthy individuals or younger inheritors of wealth. Given founder
Adlakha’s Amex background, a lot of clients could be former Centurion (Black Card) or Platinum
cardholders who are accustomed to concierge services but want an even higher level of
personalization.

• Geographic Focus: The primary market is India, especially Tier-1 cities: Mumbai, Delhi NCR,
Bengaluru, Hyderabad, Chennai, Kolkata, etc., where most of India’s millionaire households reside.
The mention of 85 cities indicates they also cover many Tier-2 locations – effectively anywhere an
HNI client might be (for example, if a wealthy individual is in a smaller city, RedBeryl can still service
them via its network). The most active regions for requests are likely Mumbai and Delhi (India’s
luxury hubs). Internationally, RedBeryl serves Indian clients traveling abroad; popular destinations
(UAE, UK, Europe, USA, Southeast Asia) see a lot of service usage. They have tie-ups in 25 countries
to assist members during overseas trips. There is also a possibility of RedBeryl courting NRI (Non-
Resident Indian) clients who live abroad but want a concierge attuned to their needs in India – for
example, an NRI might use RedBeryl to manage a family event or travel when they visit India.

• Demographics (Gender & Age): Services appeal to both male and female clients, since requests can
range from business travel to personal shopping. Many HNI families sign up such that different
members use the concierge (e.g., the husband for business help, the wife for leisure planning, etc.).
Thus, RedBeryl markets to the household as a whole. Age-wise, as mentioned, it’s mostly mature
adults, though younger millionaires (in 20s) in fields like startups or entertainment are also potential
customers – especially for experience-driven services (e.g. a young Bollywood actor who wants VIP
nightlife access).

• Sales and Acquisition Channels: RedBeryl likely acquires customers through referrals and
partnerships. Given the exclusivity, word-of-mouth in elite circles is key. They may partner with
private banks, wealth managers, or luxury car dealers to offer trial memberships as a perk, thereby
recruiting high-value clients. The company’s presence in luxury lifestyle media and at HNI events (art
fairs, golf tournaments, etc.) also helps visibility. There is a website where interested prospects can
inquire, but direct sign-up is probably filtered (they might vet applicants for fit). For the ultra-
exclusive Red Card, the company itself hand-picks and invites individuals (for example, very
prominent industrialists or celebrities).

• B2B and Corporate Channels: While primarily B2C, RedBeryl can have B2B elements. For instance, a
corporation might gift a RedBeryl membership to a top executive or use RedBeryl to run a high-end
event for clients. In 2023, RedBeryl partnering with DreamFolks (an airport lounge services firm) is an
example of a B2B2C approach – RedBeryl’s services become a value-add to another company’s
customers. We might see RedBeryl form alliances with five-star hotels or luxury residential
developers to provide concierge desks, which is a B2B revenue stream. However, its core remains
serving individual members.

• Direct vs Digital: RedBeryl’s service is high-touch, so direct interaction is key. However, the company
likely uses digital tools for convenience – e.g., members might have a WhatsApp group with their
concierge or an app to place requests. This means the channel of service delivery is often a
messaging app or phone call (personal concierge on call), not a public-facing app marketplace.
RedBeryl’s marketing, though, is digital via their website and social media (Instagram posts of luxury
experiences to entice followers).
• Customer Retention: RedBeryl’s target clientele is the type that values trust and relationship. Thus, a
big part of their sales strategy is delivering such great service that members renew annually and refer
friends. Given the limited size of India’s UHNWI population, retention and network effects are crucial.
The invitation-only Red tier also ensures the FOMO/aspiration effect for Black members to upgrade
when invited, and for non-members to desire joining.

FUNDING
Bootstraped
• Indulge
Indulge Global is a Goa, India-based luxury concierge startup (founded 2022) that has quickly gained
notoriety as an innovative player in the concierge space. After an appearance on Shark Tank
India (Season 4), Indulge drew widespread attention for its model of combining a “personal genie”
concierge service with a high-tech app. The company pitches itself as “India’s leading private
lifestyle concierge,” catering to ultra-high-net-worth individuals who seek round-the-clock assistance
and exclusive experiences. Indulge is notable for introducing what it calls “the world’s most expensive
app” – a members-only app where users can request services and even shop high-end products like
yachts and villas.

• Incorporation Date & Location: Founded in 2022, based in Panaji, Goa (India).

• Founder Background:

Karan Bhangay

Educational Background:

• Studied engineering at Jawaharlal Nehru Engineering College (did not complete final year).

Professional Background:

• Founder, Avantgarde (2009–2012): Publisher of a luxury lifestyle magazine targeting HNIs across
major Indian metros.

• Founder, The Indian Luxury Expo (2012–2021): Curated a large-scale luxury showcase representing
600+ brands and 30,000+ HNIs across 12 Indian cities.

• Founder & CEO, Indulge Global (2022–Present): Built a high-end, invite-only concierge brand serving
UHNIs with bespoke global experiences and elite services.

Advita Bihani

Educational Background:

• BBA in Mass Communication, Whistling Woods International (2017–2020).

• Engaged in creative pursuits including poetry during her studies.

Professional Background:

• Digital Branding Consultant, The Millennial Luxury (2019–2023): Freelance branding expert working
with lifestyle and luxury clients.

• Marketing Manager, Benchmark Six Sigma (2020–2021): Promoted from Management Trainee to
Manager; handled digital marketing, content, and audience engagement.

• Co-Founder & Master Genie (COO), Indulge Global (2022–Present): Leads operations and
experience curation for elite clientele in the luxury concierge space.

• Brand Statement (Tagline): Indulge’s brand revolves around making indulgence seamless. While no
single tagline is heavily advertised, the service is often described as “your personal lifestyle genie”.
The founders call their concierge agents “Genies,” underscoring the promise that “your wish is our
 command.” In media, they’ve touted the Indulge app as “the most expensive app” – not for its cost to
download (which is free), but for the high-end nature of transactions and requests it handles. This
phrase has become a de facto tagline symbolizing Indulge’s ultra-luxury focus.

• Unique Selling Propositions (USPs):

• Tech-Enabled Concierge: Indulge differentiates with its dedicated mobile app for members. Unlike
traditional concierge services that might rely on phone or WhatsApp, Indulge’s app allows members
to place requests, track them, and even browse curated luxury items/trends in a slick digital
interface. This tech emphasis appeals to younger wealthy clients and allows scalability (one-to-many
“Genie” service via chat).

• Subscription Model with Tiered Access: Indulge offers two membership plans – one at an accessible
₹50,000/year and a premium at ₹4 lakh/year. This tiering lets it tap a broader segment of HNW
individuals: the lower tier brings in affluent aspirants (perhaps young entrepreneurs or
professionals), while the higher tier caters to true UHNIs who demand unlimited service. By having a
relatively lower-entry plan, Indulge significantly widened the addressable market for concierge
services in India (traditionally only super-rich).

• 0% Commission, Transparent Model: Indulge prides itself on a 0% commission policy – meaning

they do not mark up the services or take hidden fees on bookings they make for clients. Members
pay only the membership fee and the actual cost of goods/services procured. This is a USP
contrasted with some traditional concierges that might get kickbacks or charge premiums. The
founders highlight transparency: Indulge likely makes money solely from membership fees and
perhaps referral fees that don’t affect client pricing. This builds trust with clients that
recommendations are in their best interest financially.

• Local Expertise with Global Reach: Being India-based, Indulge has partnerships with local luxury
vendors, premium hotels, events, etc., giving it strong on-ground capabilities in India (e.g. sourcing a
rare item in Mumbai, or organizing a palace wedding in Rajasthan). Simultaneously, it fulfills global
requests (Michelin restaurant reservations abroad, tickets to international events like Wimbledon or
Tomorrowland) by leveraging a network of global partners. This dual focus ensures clients feel
covered both in India and overseas.

• Product Landscape: Membership Model: Indulge operates on an annual membership fee basis
(around ₹4,00,000 per year, as reported). It is an invitation-only service, meaning one must apply or
be invited (this adds exclusivity, though appearing on Shark Tank suggests they are also open to
inbound interest). Members likely also get access for their immediate family or a set number of
requests per month (not publicly detailed, but often these clubs allow a certain scope of work
included). There may not be multiple tiers advertised yet – possibly a single tier that covers all
services. However, given they called it “invite-only,” they might be curating who can join rather than
having gold/silver tiers.

• Services Offered: Indulge’s service catalogue is broad and very similar to established concierge
offerings, with a focus on experiential luxury. Some examples and areas covered:

• Travel: Custom travel planning, luxury hotel/villa bookings, private jets/helicopter charters, yacht
rentals, and on-trip support. They likely specialize in offbeat and ultra-luxury travel – e.g., polar
expeditions, private island getaways, destination weddings – making the impossible happen (like
getting last-minute Schengen visa help or arranging an entire itinerary in a remote locale).
• Entertainment & Dining: VIP access to concerts, awards shows (e.g., Filmfare or even Oscars if
possible), fashion weeks, exclusive nightclubs (the founder got clients into clubs like Berghain in
Berlin, known for impossible door policies). Also, prime restaurant reservations, private dining with
celebrity chefs, etc. They emphasize “bespoke luxury experiences via WhatsApp” – meaning if you
can text them an idea, they’ll work to realize it.

• Shopping & Sourcing: If a client wants a limited-edition Birkin bag or a sold-out pair of sneakers,
Indulge will leverage its network to find it. They likely have personal shoppers who can do luxury
shopping on behalf of clients (domestically and internationally, shipping items in). They have
delivered items like Fendi sneakers in a day and arranged private Hermes showroom viewings in Paris
for clients. Also handling imports of cars or collectibles could fall here.

• Lifestyle & Daily Tasks: While Indulge focuses on big experiences, they also handle day-to-day luxury
needs: finding a high-end chef or mixologist for a house party, arranging an air ambulance in
emergencies, securing medical appointments with top specialists, etc. Essentially, anything a client
doesn’t have time or know how to do, the concierge will do – from mundane (pay my bills, get my car
serviced) to fancy (plan my proposal on a yacht with fireworks).

• Wealth Management Adjacent: The mention of “elite networking, wealth management” on their site
snippet suggests Indulge might even connect members to investment opportunities or exclusive
deals, blurring into a lifestyle/finance advisory role (this could be future direction, given Karan’s
network of investor clients).

• Technology Platform: The Indulge App is a central part of their product. It’s touted as India’s most
expensive app (likely because only paid members can use it). The app presumably allows members to
log requests, chat with their “Genie,” view curated offers, and manage their membership. It might
also have a social or community section (for example, listing upcoming events members can join or
showing success stories). Indulge leverages WhatsApp’s ubiquity – clients are added to a WhatsApp
group or chat with their Genie, making it extremely convenient and familiar. This integration of a
user-friendly tech interface with high-end service is a key part of their product design.

Traction:

• 2022: Launched with just 3 pilot clients and a small tea. Focus was on proving the concept with
UHNIs in Mumbai/Goa. Early success in fulfilling complex requests helped refine the service.

• 2023: Featured on Shark Tank India Season 4, which dramatically raised its profile. Although the
specifics of any deal on the show weren’t public, the exposure led to a surge in inquiries. By the end
of 2023, Indulge had grown to 180+ ultra-wealthy clients (per company statements). The team
expanded, and development of the Indulge app was in full swing (app launched in late 2023).

• 2024: Indulge’s membership crossed the 1,000 clients mark, indicating rapid adoption. The mobile
app rollout allowed them to scale beyond word-of-mouth: “anyone across the world can download
it,” said co-founder Karan Bhangay, targeting 10,000 members in the near future. The service still
maintained a high-touch approach, but technology streamlined many processes. Indulge also
formed partnerships with luxury brands (e.g. Hermès, Rolex) to secure inventory for clients and
perhaps member benefits.
• 2025: Raised its first external funding, securing $1 M (₹8.6 Cr) in early 2025 from investors including
Gautham Pai and Nikhil Shettar. This capital is aimed at fueling expansion (hiring more “Genies” and
improving tech). As of mid-2025, Indulge aims to serve 12,000 families globally by end of year– an
ambitious leap that reflects high confidence and the scalability of their app-based model. The Shark
Tank effect and media buzz have positioned Indulge as a rising star, often mentioned alongside older
players like Quintessentially and RedBeryl in India.

• • Target Demographic: Indulge specifically tailors to young UHNWIs – think

startup founders, young Bollywood and sports stars, second-gen business family
members – who are in their late 20s to 40s and have the money but perhaps not the
time or know-how to navigate luxury services. These clients are digital natives,
attached to their smartphones (hence the WhatsApp approach). They might find
traditional concierge clubs too stuffy or inaccessible, so Indulge positions as a cooler,
relatable alternative. Of course, Indulge also serves older HNIs, but much of its brand
vibe (social media presence on Instagram, Shark Tank appearance) skews young and
dynamic. Gender-wise, they target both – likely couples as units too (advertising that
an Indulge membership can help “plan your wife’s dream birthday and also get your
business travel sorted” in one package).
• • Geographic Focus: Initially India-focused (all major Indian metros where the rich
live or travel). So, Mumbai, Delhi, Bangalore, Hyderabad, Chennai, Kolkata are key
cities with clients. Being based in Goa is interesting – maybe the founders are from
there or chose a leisure-friendly locale – but business likely comes from all over.
They serve Indian clients abroad as well; e.g., an Indulge member from Mumbai
traveling to Europe will use Indulge for arrangements overseas. Over 2023-24, they
have likely gained some global clients too, possibly other South Asians or people
impressed by their model. But core presence is India, where they directly market.
• • Marketing & Acquisition Channels: Indulge has utilized media and social
media exceptionally. Shark Tank was essentially a huge marketing play; beyond that,
they maintain an active Instagram (@[Link]) with snapshots of experiences
and testimonials. They also receive press coverage in startup and luxury publications
(Inc42, Economic Times, etc.). Given Karan’s connections, they might hold
influencer events or exclusive preview parties to attract potential members (for
instance, invite select rich millennials to a luxury cocktail event orchestrated by
Indulge as a demo of their capabilities). Referrals are incentivized – satisfied clients
bringing their friends (which is typical in concierge businesses). Also, they might
partner with some premium credit card or bank in India to offer Indulge services to
top-tier clients (similar to how Amex offers concierge, but here a bank might tie-up
with Indulge for a bespoke service).
• • B2B vs B2C: Primarily B2C – individual memberships sold directly to wealthy
consumers. However, Indulge has started exploring B2B collaborations: e.g.,
discussions with luxury residential projects or vacation clubs to embed Indulge
service for their patrons. The ImpactOnNet article suggests Indulge looks at both
global and Indian markets after Shark Tank feedback, which likely means tailoring
offerings for business contexts too. They might approach companies that cater to
UHNWI (like private banks, luxury car dealerships) to offer Indulge as a sweetener or
loyalty program. There’s also a possibility of white-labeling – providing back-end
concierge for another brand – but as of now, building the Indulge brand itself is a
priority.
• • Channel of Delivery: All interactions happen through digital channels
(WhatsApp, app, phone). There is no physical Indulge office a client visits for service
 (though the company HQ is Goa, members rarely, if ever, go there). This fully digital
engagement is key to their scalability – one concierge can juggle multiple chats at
once more easily than multiple phone calls. It also suits customers who might be
traveling or prefer texting over talking. Indulge’s quick embrace of WhatsApp sets it
apart in how the service is delivered.
• • Customer Relationship: Indulge fosters a friendly yet professional rapport. Given
the relatively smaller scale right now, the founders themselves often interact with
clients, adding a personal founder-led touch. They likely solicit feedback actively and
shape services around their clients’ evolving tastes (e.g., noticing many clients ask for
wellness experiences, they’ll onboard more wellness partners). They also are building
a community – by highlighting which famous personalities are clients (with
permission), they make membership aspirational. Perhaps they arrange member-only
gatherings (networking dinners, golf meet, etc.) which adds a layer akin to a private
club. This community aspect can lock in members socially as well as service-wise.

Round Round
Round Pre- Post-
Round Round Investors &
SNo. Amount Money Money
Date Name Facilitators
(USD) Valuation Valuation
(USD) (USD)
Corporate: Manipal
Jan 07, Technologies
1 Angel $1.0M - -
2025 Angel: Gautham Pai,
Nikhil Shettar
May 14,
2 Angel $179.6K - 4.5M Angel: Nikhil K S
2024
Jun 02,
3 Angel $96.7K - 484.6K Angel: Revathi Kamath
2022