Hauser & Wirth Owners Buy Storied London Private Club – RisePEI

Manuela and Iwan Wirth, the homeowners of the mega-gallery Hauser & Wirth, have purchased a ritzy personal membership in London with a brief however embellished historical past and a set of 150 artworks.

The Groucho Membership was bought by way of Artwork Farm, the Wirths’ hospitality arm, which owns a bunch of boutique inns and eating places. Amongst these eateries is Manuela, a restaurant positioned at Hauser & Wirth’s Los Angeles gallery.

Ewan Venters, CEO of each Artfarm and Hauser & Wirth, stated in an announcement, “As a member for a while myself, I perceive the particular place the Groucho occupies in London’s cultural panorama. Beneath Artfarm’s possession, the way forward for the membership is assured. We are going to respect the historical past and traditions of the membership, and we look ahead to participating with its membership to create a long-term future for the Groucho that builds on its eclectic enchantment and maverick ethos.”

It wasn’t clear whether or not Hauser & Wirth would have any relationship with the Groucho Membership. Lots of the different companies that Artfarm owns bear no official connection to the gallery.

The 37-year-old membership has garnered a repute for its exclusivity. It has hosted among the most high-profile members of the British artwork scene, together with artist Damien Hirst, who reportedly partied there when he gained the Turner Prize in 1995. The membership—whose title is a reference to Groucho Marx’s famed comment of not eager to belong to a membership that might have him as a member—accepted ladies as members at a time when most companies of its variety have been solely open to males.

Its artwork connections are additionally not merely restricted to individuals within the membership’s social community. The Groucho Membership has a set of artwork by famed British artists, amongst them Hirst, Michael Craig-Martin, Tracey Emin, Peter Blake, Yinka Shonibare, and Banksy.

The Monetary Occasions reported that the membership was acquired by Artfarm for £40 million ($48.9 million). The Groucho’s membership presently numbers round 5,000 individuals.