Client Affairs

Elite Club Brings Luxury To China's Wealthy

Vanessa Doctor Asia Editor 26 November 2009

Elite Club Brings Luxury To China's Wealthy

China's largely untapped high net worth and ultra-high net worth demographic is fast becoming introduced to the world of 24-hour concierge services and private jets through a super-exclusive club that insists "Nothing is impossible", one of the world's biggest firms in this sector says.

Quintessentially, the international private members' club that can fly a member off to the North Pole for a last-minute adventure or provide front row seats to exclusive events, is preparing for an influx of applications from China, as more of the country's affluent recognise the benefits of "the good life".

"The number of affluent people in China is growing fast, so fast they don't really know what to do with all the money they are making," said Cynthia Chen, the company's media relations manager, in a statement.

"They know luxurious brands but it's not always the most expensive that is the best. We try to introduce them to the good life, showing them the best products, food and adventures."

To date, there are around 200 Quintessentially members in China, with 20 to 30 new applications coming in every month. Membership costs at least 38,000 yuan ($5,500) annually, but the premium package would have a price tag of upwards of 300,000 yuan.

Only 50 clients are accepted for membership in every city. The company says its first clients came from Shanghai and Beijing, but HNWIs in Guangdong, Hangzhou and Wenzhou are gradually joining the list.

According to Ms Chen, while some members join for the global personal assistant services, some apply for professional reasons.

"Our youngest members are young CEOs. They want to establish business relationships with others and see the regular networking meetings we hold as great opportunities to do that," she added.

Quintessentially has offices at almost all major cities worldwide. In Asia, it holds representative branches in Hong Kong, Thailand, Japan, China, Singapore, Korea, Australia, and New Zealand.

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