The group chat knows your diamond is lab-grown
Jason can't afford 5 carats as a marketing manager, babe.
Good morning everyone. I hope you didn’t have to deal with holiday party hangovers this weekend like I did!!
Some news:
Soho House grew member count fast — now it’s capping new members in LA, NYC, and London. And by turning off new members… they probably mean deactivating the Member Application page. The member’s club plans to stop admitting new members to its New York, London and Los Angeles locations (the company operates multiple properties in each city), according to an email from company founder Nick Jones sent to all Soho House members Friday. The move comes amid swelling criticism in recent years that the private clubs were too crowded and members weren't finding value in their membership. Soho House & Co., Soho House's parent company, noted a nearly 21% jump in overall membership across its variety of brands, which also includes The Ned and Scorpios Beach Club, from a year ago during a third-quarter earnings report. Soho House specifically grew its membership levels at a slightly higher rate (21.3%), and the parent company's overall waitlist to get in stood, as of the end of October, at 98,000 — an all-time company high.
Shiseido is launching a VC. It now joins the ranks of Estée Lauder Companies, L’Oréal and Unilever, all of which have well-established venture capital arms seeking out emerging brands. They haven’t disclosed details around average check size or whether it is looking to make minority or majority investments, but said it has the ability to make “multiple strategic investments” at different points of a company’s evolution.