Being a member of the so-called “World’s Best Members Club” couldn’t be easier. It requires both an invitation (supported by two existing members), an interview and an annual fee of 20,000 kroner.
When Stockholm was touted as the next city to get its own Soho House, there was a lot of buzz and buzz in the corridors of the tech elite. Everyone wanted to join.
From December 2022, the members’ club is housed in an old church in Ostermalm, filled with lavish luxury. It has a bar, restaurant and hanging areas. Everything from the founder of Spotify hangs on campus Daniel Oak and the founders of Caia Bianca Ingrosso And Vanessa LindblattTo Klarna boss David Sandstrom.
But the question is, has the hype gotten out of place?
When Breakkid visited the campus on a spring day, it was eerily empty. So, we were very interested in how that was going. Now we have the answer.
The accounts of Soho House Stockholm’s first year on Swedish soil show a turnover of SEK 2.2 million. Income comes from membership fees and includes the restaurant business.
At the same time, the club lost SEK 7.8 million. Costs to establish itself in the capital and renovate the old church. The company describes in the financial statements that these costs were mainly financed by borrowing from the parent company (which is based in Wales, UK).
Soho House’s stake was exercised at the end of December, but the unconditional shareholder contribution was activated in June.
In 2022 the company had seven employees.
read more: The tech elite’s favorite club was declared a church – robbing the state of millions in tax
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