Billionaires' wish: Concierge companies rise to serve India's richest

Organising a private wine-tasting event in Tuscany or a coaching class with an international sport champion: Wealthy clients have a demanding wish list

The billionaire clients of luxury concierge service companies are demanding. One such client held a private elephant polo match starring professional players for a birthday celebration, said the lifestyle manager of one such company.

Want to book tickets to a music concert or go on a travel holiday tailored for you? Perhaps you want a new wardrobe but don’t have the time to shop. Concierge service providers do such tasks for India’s rich and busy, assisting them and fulfilling their requests.

“Concierge services have grown phenomenally after Covid-19,” said Mishti Bose, chief executive officer (CEO) of Quintessentially India, an international concierge and lifestyle management services company.

“And Covid is something that changed the way people consumed in this country and I am referring to the UHNIs in particular. Well-heeled Indians are itching to spend on experiences rather than spending only on possessions,” she said, speaking about ultra-high net worth individuals.

Quintessentially has held a private wine tasting event for a client’s family and friends in a vineyard castle in Tuscany. It organised a countryside driving tour in an Aston Martin car for a James Bond fan. It arranged private flying lessons over the British countryside for a member’s son and assisted another in purchasing a prize-winning stallion for his daughter. For a client’s son it arranged private table tennis coaching lessons with Gavin Rumgay, a bronze medalist in the 2020 World Championship. 

The global concierge services industry – it serves individuals and companies – is valued at $737.79 million and is likely to be worth more than $1,300 million by 2032, according to ECON Market research. The size in India has not been fixed but industry executives put it around Rs 500 crore. Asia-Pacific, including India, is expected to clock the fastest growth.

Beside Quintessentially India, concierge service companies include The Black-Tie Service, One Concierge, T'Rouge Concierge, Les Concierges India, Connoisseur Concierge, Knights & Lords, Elysian Luxury Services and PURE Entertainment Group.

Ayaan Ali, a fintech entrepreneur, says concierge service helps him save a “most precious commodity”: Time.

“With a luxury concierge, you get to reclaim hours you would otherwise spend researching, booking, and coordinating. They’ve got the connections, the know-how, and the finesse to orchestrate a seamless experience. Your job? Simply show up and enjoy the ride. 

“These folks are like the wizards of travel, with insider access to exclusive events, hidden gems, and bespoke experiences that aren’t listed on your standard travel websites. Once I asked them to book a private tour of a historic vineyard and it was done.”

Services can be availed of via membership or on-demand. Annual membership charges range between Rs 3 lakh and Rs 30 lakh depending on services. The cost to fulfil a request is separate. Quintessentially charges an annual fee of Rs 3.5 to Rs 5 lakh for a basic membership and Rs 15 lakh to Rs 35 lakh for an elite subscription (it gets you lifestyle managers globally).

The luxury concierge industry in India is relatively new but it is growing as the affluent class expands. India, between 2023 and 2028, will have the highest growth for any country in the number of ultra-high net worth individuals, said a Knight Frank report in February, referring to people with a net worth of $30 million or more. These individuals are the primary clientele for luxury concierge services. 

Another kind of concierge service takes care of the daily needs of the rich. Pinch, one such service, is in the “business of solving daily micro stresses of people so that they can devote this time with families, friends and can have a stress free life.”

“At Pinch, we offer personalised home services to busy professionals managing demanding schedules and looking to enhance their overall well-being, by assigning each family a lifestyle manager who takes care of all their household needs,” says Nitin Srivastava, co-founder and CEO of Pinch.

“A lifestyle manager serves as an extension of a family, understanding their immediate concerns, anticipating their needs, coordinating and managing all their home tasks.” The manager handles recruitment of home staff like cooks and domestic helps, their training and management; housekeeping, repairs and maintenance; home interiors and renovation or relocations.

Operators like Pinch have a subscription-based model with monthly subscription fee of Rs 29,999, inclusive of GST. Purchases and transactions done on a customer’s behalf are invoiced at actual costs incurred.

Concierge industry has seasonal trends, with peak demand during festivals, weddings, and holidays. Elder care is an emerging segment for concierge service providers.

Kind of service	Premium service	Luxury service
Utility concierge	15,000	30,000
Luxury concierge	20,000	50,000
Health, wellness	30,000	60,000
Event planning	50,000	80,000
Household management	25,000	50,000
Elder care	15,000	30,000

Source: Market research