Premium concierge firms like Les Concierges Services, Quintessentially Lifestyle satisfy the bizarre demands of high net worth individuals
A few days ago, a Delhi-based businessman called up the concierge desk at American Express and asked for "sand from the Dead Sea" for his child's school project. "We actually did that for the client, and he paid the freight charges," says Shailesh Baidwan, country manager and head of consumer cards at Amex.
Elsewhere, a senior company executive wanted to welcome his India-bound global CEO with an elephant. He called up a concierge service that duly obliged with a pachyderm patiently awaiting the boss' arrival at the airport.
Have money will demand - that's the credo of a growing breed of high net worth individuals who are splurging on stuff ranging from the implausible to the bizarre. Like a request for a polo game with a maharaja; or for a palanquin to carry a couple to a picnic in Bali; or retrieving a Cartier watch lost in the washroom of Frankfurt airport.
One person's wacky fancy is another's business, and a lucrative one for premium concierge firms.
Luxury concierges can't come cheap
Regular concierges run routine errands like paying electricity bills or calling a locksmith to open a jammed door or providing roadside assistance. Now, a clutch of such service providers has emerged that is focused sharply on the wacky mandates of the affluent.
Premium concierge firms like Les Concierges Services, Quintessentially Lifestyle satisfy the bizzare demands of high net worth individuals, a UK-headquartered luxury 'members only' concierge club that started India operations in 2010, is one such provider of virtually anything money can buy. Says its India Managing Director Amit Dutta: "We can plan your dream holiday, arrange for an express check-in at airports and even secure an entry to a premium fashion show or a reservation at a Michelin restaurant."
In the West, Quintessentially has provided real-time concierge services to stars and tycoons like Madonna, Lakshmi Mittal, Mick Jagger and Gwyneth Paltrow. Such gratification can't come cheap. To be eligible for theAmex services, for instance, one has to be a Platinum card member, paying an annual fee of Rs 50,000. "If we get sand from the Dead Sea, it would cost us a fair bit and the client will pay for it," says Baidwan.
Bangalore-based Les Concierges Services provides customised solutions for premium and luxury segments for anyone who is capable of buying a house worth at least 2 crore. "Our pricing for memberships ranges from Rs 50,000 to Rs 5 lakh a year," says Deepa G, vice-president, sales, at Les Concierges Services. The company is a specialist in corporate concierge services. It has organised elephant receptions for CEOs and, at least on one occasion, gone shopping for a special tie that an Indian CEO had spotted at a store on London's Regent Street but did not have the time to buy.
Such a specialised business with robust demand from the well-heeled has all the makings of a money spinner. Which explains why Les Concierges caught the eye of investor Rakesh Jhunjhunwala and private equity firm Acacia Redwood.
Meanwhile, the likes of builders and healthcare service providers are offering luxury concierge services as a value-add for their affluent clientele. Mumbai-based Lodha group has tied up with Quintessentially for its luxurious World One skyscraper project in Mumbai. Buyers of these elite homes will have Quintessentially's services thrown in as part of the deal with the builders.
According to a recent report by Kotak Wealth and CRISIL Research, there were an estimated 62,000 ultra high net worth homes in India as of 2010-11, with a minimum net worth of Rs 25 crore. This base is expected to more than triple to 219,000 households by 2015-16. The total net worth of Indian ultra high net worth households is expected to grow from Rs 45 trillion in 2010-11 to Rs 235 trillion in 2015-16.
In a recent report, Swiss wealth manager Julius Baer forecast that the number of HNIs in India, with assets of $1 million or more, would more than double to 403,000 by 2015. "As the number of working women and level of wealth increases, there will be an increase in demand for personalised services.
A burgeoning economy, enhanced affluence levels, globally aware consumers can only provide a greater thrust to this industry," says Baidwan. "Till recently, there were not too many options in India which let individuals to express their wealth. Luxury concierge services provide an outlet to do so," adds Ankur Bisen, associate V-P of retail and consumer products at Technopak Advisors.
Source : http://economictimes.indiatimes.com
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Concierge services in India
As a jet-setting time-bound traveller, you need someone to help you make travel arrangements, pick out the best places to eat in a new city, pick up flowers last minute for an impulse date, or assist you in some last minute shopping. This special someone is your concierge, your best travel buddy, who will assist you with pretty much anything under the sun, at a cost, of course.
With this list of services in India, you can sit back and relax, and let your concierge handle the rest.
With this list of services in India, you can sit back and relax, and let your concierge handle the rest.
Concierge4india ServicesFounded in 2005, this company comprises experienced ex-hotel concierges. Concierge4india offers travel and relocation services, passport assistance, business services, bank work, insurance premium, RTO andshopping assistance. The company also provides clients with a number of entertainment services, which include decoration for parties and arranging movie tickets. They have city-based concierges to assist depending on the state you are in and international concierges who help with language translations and interpretations along with foreign language coaching.
(www.concierge4india.com)
(www.concierge4india.com)
SupersevaSuperseva's services are ideal for professionals and corporates. From making travel arrangements for company employees, to setting up conferences and meetings, Superseva will handle all non-core functions for corporates, and are excellent in providing the best hotel deals, holiday packages, etc. The company, whose services span 10 cities in the country, also provides personal concierge assistance to individuals on a membership basis.
(www.superseva.com)
(www.superseva.com)
Quintessentially ConciergeLaunched in Soho, London and now with a branch in India, Quintessentially is a luxury concierge service available for members 24/7 on each day of the week. Services are exclusive for those registered to their Private Members’ Club. Covering 65 countries, Quintessentially Concierge is your own personal assistant, helping you with a range of activities from your travel planning to picking out your best suit or renting the best private jet. The company also has an insider guide to many destinations across the word, easing your journey with tips and suggestions. You can become a member by submitting a request on their website.
(www.quintessentially.com)
(www.quintessentially.com)
A La ConciergeFrom banking to booking movie tickets, A La Concierge has a solution for pretty much all your travel queries. They even help organise charity events, fashion shows and other big gala events. Catering to both corporates and individuals, A La Concierge offers packages that best suit the type of client.
Its clientele comprises companies like Mtv, HSBC, Mid Day and Reliance Money.
(www.alaconcierge.com)
Its clientele comprises companies like Mtv, HSBC, Mid Day and Reliance Money.
(www.alaconcierge.com)
EYLForgot to pick up flowers for your lady? EYLConcierge Redefined to your rescue. This concierge company calls itself a corporate andpersonal helpdesk, and ‘help’ it does real well. Pay your bills, get an appointment to get your car washed, buy flowers last minute, and EYL will help you fulfill all these forgettable but pivotal little chores, in addition to the biggies like booking tickets, travel planning and so on. These benefits can be availed by becoming an EYL member. If the company you work for or your own organisation has a tie-up with EYL, all you have to do is login or register and avail the benefits. With EYL, members can also avail discounts on books, restaurants in Delhi and much more.
(www.eyl.co.in)
(www.eyl.co.in)
Source : Ishita Bahadur, http://www.cntraveller.in
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