Poundland for billionaires: Mayfair 'discount store' will open its doors to wealthy bargain-hunters - where everything is £1,000

  • The £1,000 shop will open up in London's Mayfair in August this year 
  • Stocking luxury products, everything on sale with cost £1000 
  • The shop will be members-only; the first 1,000 memberships free

A new shop offering bargains to billionaires is set to open in London's Mayfair.

The luxury discount store, which will open in August in a secret location, will offer every single item on sale for an eye-watering £1,000.

Yet, the brains behind the shop insist that their goods are far from extortionate and will be a snip compared with the price tags in neighbouring retailers.

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The 'budget' shop in London's most expensive neighbourhood will have an opulent, decadent feel

The 'budget' shop in London's most expensive neighbourhood will have an opulent, decadent feel

Marketing manager David Shapiro told FEMAIL: I think we are more accessible to the general population than many of the other retailers in Mayfair. 

'There are many shops in Mayfair where you can't buy anything under £10,000, or £100,000 or £1million.

'As far as Mayfair goes, we are definitely one of the cheapest stores. If people really want something they will save up to buy it - there are a lot of people who own £1,000 handbags and watches who aren't particularly wealthy, they just save up because they appreciate the quality and the design. 

And like a wholesalers club that offers discounts to members, those wishing to snap up these cut-price items are invited to apply for membership.

The first 1,000 are free and can be applied for at the company's website. Already 200 memberships have been signed up for.

Shapiro, who has a background in luxury PR, said: 'We only launched our website this week, so we're on about 200 members so far. The response has been pretty positive, especially from people in our target demographic. They 'get' the concept, and are excited to shop there.'

A shop selling only £1000 items is set to open up in London this August branded a luxury discount store

A shop selling only £1000 items is set to open up in London this August branded a luxury discount store

He says he has been working on the idea for several years after recognising the success of the pound shop and says it is already proving to be a hit. 

But unlike discounted toiletries and bumper packs of biscuits, David says the stock will be rather more rarefied. 

He continued: 'We will stock an interesting selection of jewellery, watches and fashion. There are so many small brands out there wanting exposure, that it means we have been able to be selective and choose really interesting products, stuff that has real design merit and quality. 

'We chose £1,000 simply because it is not possible to offer a range of true luxury goods for less than that. For many of our lines the prices are not much higher than the value of the gold or silver in the item. 

The shop will open in Mayfair and only those who are members will be able to shop in the store 

'There are many discount outlet stores that offer goods around the £100 price point, but very few, perhaps none, that cater to this higher segment. If anything £1,000 is too cheap - we probably should have made it a £10,000 shop instead.'

'In the interests of fairness to the participating brands, we will be revealing the full line-up in one go in a couple of weeks time, once all the contracts are signed etc. Also some of the larger brands we are not allowed to publicly name, so there are some exciting surprises in store.'

The shop has a 12 month leasehold after which they are hoping to take the concept to other cities in the world.

Despite the rather pricey nature of the shop and the members only policy it will stock David says that the store will be anything but exclusive.

He added: 'Anybody is welcome to shop at the store, the site is members only but anybody is welcome to apply.'

Meanwhile, the interior of the store will bear no resemblance to a pound shop at all. 

'Too many luxury shops are going for the sleek, minimalist look, says Shapiro. 'We want some old world glamour and quality.'


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