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Richard Caring

January 21, 2023

Richard Allan Caring (born 4 June 1948)[1][2] is a British businessman. He initially built a business, International Clothing Designs, supplying Hong Kong-manufactured fashion to UK retailers. After surviving the 2004 Indian Ocean earthquake, he diversified his business interest into restaurants and nightclubs and is the chairman of Caprice Holdings, which owns and runs The Ivy chain of restaurants.[3]

Richard Caring
Born
Richard Allan Caring

(1948-06-04) 4 June 1948 (age 74)
Finchley, London, England
OccupationBusinessman
Spouses
  • Jacqueline Stead
    ​
    ​
    (m. 1971; div. 2016)​
  • Patricia Mondinni
    ​
    (m. 2018)​
Children5

According to the Sunday Times Rich List in 2021, Caring's net worth is estimated to be £1.005 billion.[4]

Early life

Caring was born on 4 June 1948,[2][5] the middle child of three born to Louis Caringi, an Italian-American GI, stationed in London during World War II, and Sylvia Parnes,[1] a Jewish-immigrant nurse who met him in the ambulance on his way to hospital, and cared for him during his recovery.[6]

After deciding to stay in London after the war, the couple married. Louis Caringi anglicized his surname to Caring, and set up in the clothing industry in offices off Great Portland Street; Louis Caring Originals sourced knitwear for retailers including Marks & Spencer.[7][1]

Caring's prowess at golf, playing off of scratch,[7] resulted in him representing Middlesex at county level, and being accepted into Millfield School in Street, Somerset on a 10-shilling-a-week sporting scholarship.[1]

Career

Clothing

With golf talent insufficient to make an income, Caring left Millfield aged 16 and joined a shopping centre development company as an office boy:[7][1]

My parents thought it important I got practical work experience – they weren't bothered about university. I understand the thought process, "Let's throw him into work." But looking back, I would very much have liked to go to university. You get a much broader mindset.

However, the family business was in trouble. In the designer-led 1960s, Caring's father didn't understand fashion,[citation needed] and the resulting losses in the business threatened losing the family home.[7] At the time, Louis Caring Originals had become a dress manufacturer that employed seven people. Caring had a girlfriend at the Royal College of Art, with whom he ran up a range of mini-skirts that cost £2 to make, selling them for 69s 6d (£3.475 in decimalisation). With an initial target of 200 a week, after a few years they were selling 25,000 a week:[7][1]

We saved the house in the end. Maybe that's why I'm driven, because I saw it all happen at a young age.

In 1971 Caring first visited Hong Kong,[7] where labour and materials were far cheaper than in Britain.[1] Until this point, Hong Kong made basic clothing cheaply, such as underpants. Spending a year living out of a suitcase and resident in one hotel, Caring educated local manufacturers through producing the same garment over and over again to get the quality right.[8] As a result, he became one of the first western high fashion buyers to develop localised Chinese relationships,[9] and returned to the UK to sell the new high quality but cheaper garments to UK retailers.[7]

Forming International Clothing Designs (ICD) to exploit the new opportunity, Caring moved his family permanently to Hong Kong in 1979. Due to its international trading nature, the company's structure and holdings are complex, held through a series of offshore companies and trusts, making it hard to detect Caring’s full earnings from the fashion world.[7][10] The manoeuvre worked, and Caring cornered the market in fast fashion.[7][11] ICD at its height supplied 70% of the clothing sold by British high street retailers,[7] supplying Marks & Spencer, Mothercare and Next.

It was through ICD and its trading that he met and developed his relationship with Sir Philip Green, the fashion retailer. Up to this day, ICD is the dominant supplier to Arcadia Group, the Green-owned fashion retail chain that includes Dorothy Perkins, Topshop and Top Man.[7] This was not the normal retailer and supplier set-up but described as more of a partnership,[7] with Caring presenting Green with a Ferrari F430 Spider for his 50th birthday:[1]

I speak to him every day. We're more than friends – I think we'd do anything for each other. We're like brothers. We've grown up together and experienced lots of good times and tough times.

For less than a year, Caring worked for Green, and he is still a supplier to the chain.[10] Caring supplied Next plc via a joint venture company NV, but sold his share in the 1990s back to the retailer.[10] He built a joint venture to supply Freemans catalogues, again now sold to the partner.[9] He also co-developed the Together brand, which after buying out partners he sold to German catalogue firm Otto Versand. In 2004–05, ICD saw sales drop to £74.2m from £85.5m, making a pre-tax loss of £523,644 from a £3.99m profit the year before after an exceptional loss on the sale of Amanda Wakeley's designer label.[10] In 2007, Caring looked at buying the distressed Prada brand.[12]

ICD is a smaller operation in the UK than it was, but still today employs 250 people.[7] Based between Fitzroy Square and Euston Road, Caring's office is a bespoke built top-floor addition, with a fully equipped bar and a roof terrace that faces south across the West End. His personal office includes drawings by Degas, a Matisse, and a Henry Moore sculpture bronze of a mother and child, lifted in by crane.[7]

Property

It is proposed by many that Caring first started investing in property while resident in Hong Kong, ploughing back profits from clothing sourcing into other assets.[9] His first UK publicised deal was the £45m purchase of a part of the Camden Market complex in 2004, that he purchased from Bebo Kobo and OD Kobo.[10]

Later that same year his friend Elliott Bernerd called him to ask whether, as an avid golfer, he might be interested in buying Wentworth Golf Club.[7] In partnership with then minority shareholder, airport hotel entrepreneur Surinder Arora, the pair paid £130m, £50m more than the club’s book value at the time:[7][10]

As a sporting facility in the UK there is nothing similar. Wentworth is to golf what Wimbledon is to tennis. It's priceless. There's only one Wentworth in the world.

He sold Wentworth in 2014 for £135m to Reignwood Investments,[13] a Chinese holding company associated with billionaire Yan Bin.[14]

In the meantime, Caring also purchased the former American Navy Building in London's Grosvenor Square in 2009.[15]

Restaurants and private members' clubs

After buying Wentworth, Caring realised he needed to raise the standard of food. He approached his favourite restaurant Le Caprice in summer 2005, but as discussions deteriorated Caring joked it was costing him so much he might as well buy the whole Caprice Holdings group; it emerged that the management was looking for a buyer.[1][10] Six weeks later, after selling designer evening wear label Amanda Wakeley, Caring secured a £31.5m deal to take over Caprice Holdings, owner of The Ivy, Le Caprice and J Sheekey, as well as Italian restaurant Daphne's and Vietnamese restaurant Bam-Bou.[2]

Caring began to reshape the group, which created much media coverage for someone who previously preferred to stay out of the limelight.[15] In 2005 he added fish restaurant Scott’s and catering firm Urban Productions, but sold Pasha to Algerian restaurateur Tony Kitous. He also bought Signature Restaurants from Luke Johnson for £57m, owner of mid-market Strada and Belgo chains.[10]

In 2006 he bought Rivington, a two-restaurant group independently set up by Caprice Holding’s chef director Mark Hix.[10] He sold Strada in 2007 for £140m.[16] In 2007 he purchased the Birley Group (Annabel's, Harry's Bar, Mark's Club) for £95m including the vast art collection,[9] concluded just a few months before Mark Birley's death.[10]

In 2008 he agreed a leveraged buyout of 28 small investors in private members' club Soho House, taking 80% for £105m, with the remainder held by Nick Jones who remains CEO, also his partner in Cecconi’s.[11] Caring also owns stakes in Cote (formed by the former management team of Strada),[7] and Alternative Investment Market listed chain Carluccio's.[15]

Caprice Holdings also owns Sexy Fish.[17]

The speed with which Caring has built his restaurant chain has resulted in many questioning his reasoning, on both a strategic level as well as the high purchase prices paid.[18] He has been dubbed by some as "the Lex Luthor of Mayfair" for his apparent supermarket-sweep approach to buying companies. Other critics say he is brandishing a credit card, playing a high-stakes game of Monopoly, buying every square he lands on.[7]

But Caring insists he has a masterplan:[7]

I spotted an international gap in the market. In the restaurant business, there are single brands, but not a group of brands – which is what we do. There is only one Ivy, one Annabel's – there is nothing like them. A group of top-notch brands like them – that is what we're trying to achieve. There is a grand plan and it starts with building strength in London.

Caring's strategy is built around three brands, with 60,000 people:[7]

  • Annabel's – including the Birley clubs (Mark's, Harry's Bar, George and Bath & Racquets), 12,000 members: He says "They're refined, discreet, elegant."
  • Soho House – 17,000 members: He says "They're for an arts, journalistic, younger crowd."
  • Caprice – 30,000 regular customers, the restaurant link between the two club chains

The brands have opened in several countries including: Le Caprice New York; Cecconi's Miami; Soho House, via £130m credit line supplied by HBoS,[10] in Berlin, Chicago, Miami and Los Angeles.[1]

Restaurant critic AA Gill once commented:[18]

He's setting up the restaurant equivalent of LVMH. He's spending a lot more on these businesses than they’re probably worth, but eventually he'll have a portfolio that, as a brand, is worth far more than the sum of its parts.

Caring owns restaurant chain The Ivy Collection.[19]

Politics

A friend of Lord Levy,[6] Caring lent £2m to the Labour Party to fund the 2005 United Kingdom general election.[15] Caring was not later implicated or named as part of the Cash for Honours investigation.[11] The loan monies have since been repaid.[6]

Caring has donated to the Conservative Party on several occasions, mainly in the form of auction prizes. This includes the hire of Annabel’s in 2008 for the Conservative Party's Black and White Ball in Battersea Park, which was as an auction prize that raised £70,000.[15][20]

He was also recorded as donating just over £50,000 to the party in 2010. In 2012 he was recorded as donating £170,000. This was followed by a £290,000 donation in the third quarter of 2015.[21]

Philanthropy

After the 2004 Indian Ocean tsunami, Caring donated £1m to the relief effort.[15] He supports the NSPCC at its Fresh Start centre in Camden,[15] to combat child abuse and paedophilia.[7]

In 2005, he organised a charity costume "Napoleonic Ball" for the NSPCC in St Petersburg's Catherine Palace, Russia, featuring a performance by Sir Elton John.[15] Caring spent £8m flying in 450 guests in by private jet,[9] including Bob Geldof and former US president Bill Clinton, raising £11m.[11]

Personal life

Caring married his first wife, Jacqueline Stead, in 1971.[2] She is an Aldershot-born model and the daughter of a retired British Army major.[6] They have two sons, who were raised in Hong Kong: Jamie, a vice-president of MTV Networks Europe;[citation needed] and Ben, who works for Soho House.[7]

The family lived in Hampstead, north London, in a house known as the Versailles of London.[11] It has a 55-foot (17 m) ballroom, a cinema, a dining room that seats 30; and a 2-acre (0.81 ha) garden with a lake.[7] He has homes in Hong Kong, and owns the former stable block of Pixton Park, Dulverton, on the Somerset/Devon borders.[22] Purchased in 2005, the Pixton building has an interior designed by Tara Bernerd, daughter of property developer Elliott Bernerd,[18]

In 2016, Caring and Stead divorced in a high-profile case, which was described as "Britain's biggest divorce".[23] He left his wife to move into a £32 million home in St John's Wood with 35-year-old Brazilian Patricia Mondinni, with whom he had a son.[22] In March 2018, Caring married Mondinni.[23] The couple also have two daughters.[24]

His friends include Sir Philip Green and Scottish philanthropist Sir Tom Hunter.[25] His family relations include stockbroker Anthony Parnes and his son Michael Parnes, CEO of stock brokerage Old Park Lane Capital.[26]

2004 Indian Ocean earthquake

Main article: 2004 Indian Ocean earthquake

In 2004 over the Christmas period, Caring and his sons were scuba diving in the Maldives. On Boxing Day, the dive-master suggested they sail to an atoll and dive nearby. Anchored on the north side of the atoll, they dived to 100 feet (30 m) for 45 minutes. On their return to the surface, Caring received calls from friends around the world asking: "Are you all right?"[7]

Protected by the atoll, the divers had "felt a blip, but it could have been a big boat."[1] Divers on the southside of the atoll in the path of the tsunami were later found washed-up 100 miles (160 km) away.[1] Sir Philip Green sent his private jet to pick the family up, and Caring donated £1 million to the tsunami relief fund:[7][1]

My two sons nearly drowned with me. After you've experienced something like that, you examine things for a couple of hours and think, "I must smell the roses." Did I see the light? No. But it does change the way you think, the way you look at the world.

Controversy

In December 2014, Michelle Young accused Philip Green, Caring and Simon Cowell of helping her ex-husband, businessman Scot Young, to hide assets and so avoid paying maintenance to his ex-wife and their two daughters.[27] In February 2015, a note from HSBC bankers in Caring's files mentioned that Philip Green's wife Tina Green had been holding part of Caring's assets in cash on his behalf, prompting suspicions that Caring might have funnelled profits through Tina Green to avoid paying taxes on his assets.[28]

References

  1. ^ a b c d e f g h i j k l m Lydia Slater (12 June 2009). . thisislondon.co.uk. Archived from the original on 5 February 2011. Retrieved 28 December 2009.
  2. ^ a b c d "How Richard Caring piles up trophy assets". www.ft.com. 23 April 2010. Retrieved 5 September 2022.
  3. ^ "Our History | Caprice Holdings". www.caprice-holdings.co.uk. Retrieved 9 July 2019.
  4. ^ "The Sunday Times Rich List 2021". www.thetimes.co.uk. Retrieved 17 November 2021.
  5. ^ "Richard Allan CARING – Personal Appointments (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 25 December 2016.
  6. ^ a b c d "How Jewish is Richard Caring?". thejc.com. 1 May 2008. Retrieved 28 December 2009.
  7. ^ a b c d e f g h i j k l m n o p q r s t u v w x y Chris Blackhurst (1 June 2009). . Management Today. Archived from the original on 3 August 2020. Retrieved 28 December 2009.
  8. ^ China Influence. "The Brits that Changed China". Richard Caring.
  9. ^ a b c d e Lewis, Jane (16 July 2007). . MoneyWeek. Archived from the original on 18 April 2019. Retrieved 5 September 2022.
  10. ^ a b c d e f g h i j k "Richard Caring". squaremeal.co.uk. Retrieved 28 December 2009.
  11. ^ a b c d e "Richard Caring". The Times. London, UK. 27 April 2009. Retrieved 28 December 2009.
  12. ^ "Rags to riches: Richard Caring eyes Prada". thefirstpost.co.uk. 10 July 2007. Retrieved 28 December 2009.
  13. ^ "Wentworth golf club sold to Beijing-based Reignwood for £135m". The Guardian. 12 September 2014.
  14. ^ Subramanian, Samanth (2 March 2021). "The rich vs the very, very rich: the Wentworth golf club rebellion". Guardian. Retrieved 5 March 2021.
  15. ^ a b c d e f g h . London, UK: Media Guardian 100, 2009. 13 July 2009. Archived from the original on 14 March 2016. Retrieved 28 December 2009.
  16. ^ Barriaux, Marianne (1 June 2007). "Ivy owner sells Strada chain for £140m". The Guardian. ISSN 0261-3077. Retrieved 12 June 2019.
  17. ^ Hurley, James (3 January 2019). "Record turnover for Caprice Holdings, owner of The Ivy". The Times. ISSN 0140-0460. Retrieved 17 April 2019.
  18. ^ a b c Long, Camilla (11 November 2007). "The man who controls your social life". The Times. London, UK. Retrieved 28 December 2009.
  19. ^ Walsh, Dominic (29 April 2019). "Ivy Collection climbs while peers hit wall". The Times. ISSN 0140-0460. Retrieved 12 June 2019.
  20. ^ "Richard Caring". The Times. London, UK. 27 April 2009. Retrieved 28 December 2009.[verification needed]
  21. ^ Doward, Jamie (21 November 2015). "Tycoon owner of The Ivy and Annabel's hands Tories £290,000". The Observer. ISSN 0029-7712. Retrieved 17 April 2019.
  22. ^ a b "Restaurants tycoon Caring faces huge payout after split from wife". Evening Standard. 6 October 2016. Retrieved 17 April 2019.
  23. ^ a b Finnigan, Lexi (6 October 2016). "'Britain's biggest divorce': The Ivy owner Richard Caring 'faces £350m bill after separating from his wife'". Retrieved 24 September 2018 – via www.telegraph.co.uk.
  24. ^ Hodge, Gavanndra (7 December 2019). "Richard Caring interview: 'I have tears in my eyes watching Peppa Pig'". The Times. Retrieved 5 September 2022.
  25. ^ "Tom Hunter: Meet Britain's most generous tycoon". The Independent. London, UK. 17 July 2006. Retrieved 28 December 2009.
  26. ^ "City diary: Parnes rooting around the family tree". Retrieved 25 December 2016.
  27. ^ Gammell, Caroline (11 April 2011). "Michelle Young claims Sir Philip Green and Simon Cowell are helping estranged husband hide £2bn fortune". Telegraph. ISSN 0307-1235. Retrieved 3 May 2019.
  28. ^ Leigh, David; Ball, James; Garside, Juliette; Pegg, David (9 February 2015). "HSBC files reveal mystery of Richard Caring and the £2m cash withdrawal". The Guardian. ISSN 0261-3077. Retrieved 3 May 2019.

January 21, 2023
richard, caring, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, major, contributor, this, article, appears, have, close, connection, with, subject, require, cleanup, c. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages A major contributor to this article appears to have a close connection with its subject It may require cleanup to comply with Wikipedia s content policies particularly neutral point of view Please discuss further on the talk page September 2016 Learn how and when to remove this template message This article is an autobiography or has been extensively edited by the subject or by someone connected to the subject It may need editing to conform to Wikipedia s neutral point of view policy There may be relevant discussion on the talk page January 2016 Learn how and when to remove this template message This biography of a living person needs additional citations for verification Please help by adding reliable sources Contentious material about living persons that is unsourced or poorly sourced must be removed immediately especially if potentially libelous or harmful Find sources Richard Caring news newspapers books scholar JSTOR November 2013 Learn how and when to remove this template message This article may lend undue weight to certain ideas incidents or controversies Please help improve it by rewriting it in a balanced fashion that contextualizes different points of view April 2019 Learn how and when to remove this template message Learn how and when to remove this template message Richard Allan Caring born 4 June 1948 1 2 is a British businessman He initially built a business International Clothing Designs supplying Hong Kong manufactured fashion to UK retailers After surviving the 2004 Indian Ocean earthquake he diversified his business interest into restaurants and nightclubs and is the chairman of Caprice Holdings which owns and runs The Ivy chain of restaurants 3 Richard CaringBornRichard Allan Caring 1948 06 04 4 June 1948 age 74 Finchley London EnglandOccupationBusinessmanSpousesJacqueline Stead m 1971 div 2016 wbr Patricia Mondinni m 2018 wbr Children5According to the Sunday Times Rich List in 2021 Caring s net worth is estimated to be 1 005 billion 4 Contents 1 Early life 2 Career 2 1 Clothing 2 2 Property 2 3 Restaurants and private members clubs 3 Politics 4 Philanthropy 5 Personal life 5 1 2004 Indian Ocean earthquake 5 2 Controversy 6 ReferencesEarly life EditCaring was born on 4 June 1948 2 5 the middle child of three born to Louis Caringi an Italian American GI stationed in London during World War II and Sylvia Parnes 1 a Jewish immigrant nurse who met him in the ambulance on his way to hospital and cared for him during his recovery 6 After deciding to stay in London after the war the couple married Louis Caringi anglicized his surname to Caring and set up in the clothing industry in offices off Great Portland Street Louis Caring Originals sourced knitwear for retailers including Marks amp Spencer 7 1 Caring s prowess at golf playing off of scratch 7 resulted in him representing Middlesex at county level and being accepted into Millfield School in Street Somerset on a 10 shilling a week sporting scholarship 1 Career EditClothing EditWith golf talent insufficient to make an income Caring left Millfield aged 16 and joined a shopping centre development company as an office boy 7 1 My parents thought it important I got practical work experience they weren t bothered about university I understand the thought process Let s throw him into work But looking back I would very much have liked to go to university You get a much broader mindset However the family business was in trouble In the designer led 1960s Caring s father didn t understand fashion citation needed and the resulting losses in the business threatened losing the family home 7 At the time Louis Caring Originals had become a dress manufacturer that employed seven people Caring had a girlfriend at the Royal College of Art with whom he ran up a range of mini skirts that cost 2 to make selling them for 69s 6d 3 475 in decimalisation With an initial target of 200 a week after a few years they were selling 25 000 a week 7 1 We saved the house in the end Maybe that s why I m driven because I saw it all happen at a young age In 1971 Caring first visited Hong Kong 7 where labour and materials were far cheaper than in Britain 1 Until this point Hong Kong made basic clothing cheaply such as underpants Spending a year living out of a suitcase and resident in one hotel Caring educated local manufacturers through producing the same garment over and over again to get the quality right 8 As a result he became one of the first western high fashion buyers to develop localised Chinese relationships 9 and returned to the UK to sell the new high quality but cheaper garments to UK retailers 7 Forming International Clothing Designs ICD to exploit the new opportunity Caring moved his family permanently to Hong Kong in 1979 Due to its international trading nature the company s structure and holdings are complex held through a series of offshore companies and trusts making it hard to detect Caring s full earnings from the fashion world 7 10 The manoeuvre worked and Caring cornered the market in fast fashion 7 11 ICD at its height supplied 70 of the clothing sold by British high street retailers 7 supplying Marks amp Spencer Mothercare and Next It was through ICD and its trading that he met and developed his relationship with Sir Philip Green the fashion retailer Up to this day ICD is the dominant supplier to Arcadia Group the Green owned fashion retail chain that includes Dorothy Perkins Topshop and Top Man 7 This was not the normal retailer and supplier set up but described as more of a partnership 7 with Caring presenting Green with a Ferrari F430 Spider for his 50th birthday 1 I speak to him every day We re more than friends I think we d do anything for each other We re like brothers We ve grown up together and experienced lots of good times and tough times For less than a year Caring worked for Green and he is still a supplier to the chain 10 Caring supplied Next plc via a joint venture company NV but sold his share in the 1990s back to the retailer 10 He built a joint venture to supply Freemans catalogues again now sold to the partner 9 He also co developed the Together brand which after buying out partners he sold to German catalogue firm Otto Versand In 2004 05 ICD saw sales drop to 74 2m from 85 5m making a pre tax loss of 523 644 from a 3 99m profit the year before after an exceptional loss on the sale of Amanda Wakeley s designer label 10 In 2007 Caring looked at buying the distressed Prada brand 12 ICD is a smaller operation in the UK than it was but still today employs 250 people 7 Based between Fitzroy Square and Euston Road Caring s office is a bespoke built top floor addition with a fully equipped bar and a roof terrace that faces south across the West End His personal office includes drawings by Degas a Matisse and a Henry Moore sculpture bronze of a mother and child lifted in by crane 7 Property Edit It is proposed by many that Caring first started investing in property while resident in Hong Kong ploughing back profits from clothing sourcing into other assets 9 His first UK publicised deal was the 45m purchase of a part of the Camden Market complex in 2004 that he purchased from Bebo Kobo and OD Kobo 10 Later that same year his friend Elliott Bernerd called him to ask whether as an avid golfer he might be interested in buying Wentworth Golf Club 7 In partnership with then minority shareholder airport hotel entrepreneur Surinder Arora the pair paid 130m 50m more than the club s book value at the time 7 10 As a sporting facility in the UK there is nothing similar Wentworth is to golf what Wimbledon is to tennis It s priceless There s only one Wentworth in the world He sold Wentworth in 2014 for 135m to Reignwood Investments 13 a Chinese holding company associated with billionaire Yan Bin 14 In the meantime Caring also purchased the former American Navy Building in London s Grosvenor Square in 2009 15 Restaurants and private members clubs Edit After buying Wentworth Caring realised he needed to raise the standard of food He approached his favourite restaurant Le Caprice in summer 2005 but as discussions deteriorated Caring joked it was costing him so much he might as well buy the whole Caprice Holdings group it emerged that the management was looking for a buyer 1 10 Six weeks later after selling designer evening wear label Amanda Wakeley Caring secured a 31 5m deal to take over Caprice Holdings owner of The Ivy Le Caprice and J Sheekey as well as Italian restaurant Daphne s and Vietnamese restaurant Bam Bou 2 Caring began to reshape the group which created much media coverage for someone who previously preferred to stay out of the limelight 15 In 2005 he added fish restaurant Scott s and catering firm Urban Productions but sold Pasha to Algerian restaurateur Tony Kitous He also bought Signature Restaurants from Luke Johnson for 57m owner of mid market Strada and Belgo chains 10 In 2006 he bought Rivington a two restaurant group independently set up by Caprice Holding s chef director Mark Hix 10 He sold Strada in 2007 for 140m 16 In 2007 he purchased the Birley Group Annabel s Harry s Bar Mark s Club for 95m including the vast art collection 9 concluded just a few months before Mark Birley s death 10 In 2008 he agreed a leveraged buyout of 28 small investors in private members club Soho House taking 80 for 105m with the remainder held by Nick Jones who remains CEO also his partner in Cecconi s 11 Caring also owns stakes in Cote formed by the former management team of Strada 7 and Alternative Investment Market listed chain Carluccio s 15 Caprice Holdings also owns Sexy Fish 17 The speed with which Caring has built his restaurant chain has resulted in many questioning his reasoning on both a strategic level as well as the high purchase prices paid 18 He has been dubbed by some as the Lex Luthor of Mayfair for his apparent supermarket sweep approach to buying companies Other critics say he is brandishing a credit card playing a high stakes game of Monopoly buying every square he lands on 7 But Caring insists he has a masterplan 7 I spotted an international gap in the market In the restaurant business there are single brands but not a group of brands which is what we do There is only one Ivy one Annabel s there is nothing like them A group of top notch brands like them that is what we re trying to achieve There is a grand plan and it starts with building strength in London Caring s strategy is built around three brands with 60 000 people 7 Annabel s including the Birley clubs Mark s Harry s Bar George and Bath amp Racquets 12 000 members He says They re refined discreet elegant Soho House 17 000 members He says They re for an arts journalistic younger crowd Caprice 30 000 regular customers the restaurant link between the two club chainsThe brands have opened in several countries including Le Caprice New York Cecconi s Miami Soho House via 130m credit line supplied by HBoS 10 in Berlin Chicago Miami and Los Angeles 1 Restaurant critic AA Gill once commented 18 He s setting up the restaurant equivalent of LVMH He s spending a lot more on these businesses than they re probably worth but eventually he ll have a portfolio that as a brand is worth far more than the sum of its parts Caring owns restaurant chain The Ivy Collection 19 Politics EditA friend of Lord Levy 6 Caring lent 2m to the Labour Party to fund the 2005 United Kingdom general election 15 Caring was not later implicated or named as part of the Cash for Honours investigation 11 The loan monies have since been repaid 6 Caring has donated to the Conservative Party on several occasions mainly in the form of auction prizes This includes the hire of Annabel s in 2008 for the Conservative Party s Black and White Ball in Battersea Park which was as an auction prize that raised 70 000 15 20 He was also recorded as donating just over 50 000 to the party in 2010 In 2012 he was recorded as donating 170 000 This was followed by a 290 000 donation in the third quarter of 2015 21 Philanthropy EditAfter the 2004 Indian Ocean tsunami Caring donated 1m to the relief effort 15 He supports the NSPCC at its Fresh Start centre in Camden 15 to combat child abuse and paedophilia 7 In 2005 he organised a charity costume Napoleonic Ball for the NSPCC in St Petersburg s Catherine Palace Russia featuring a performance by Sir Elton John 15 Caring spent 8m flying in 450 guests in by private jet 9 including Bob Geldof and former US president Bill Clinton raising 11m 11 Personal life EditCaring married his first wife Jacqueline Stead in 1971 2 She is an Aldershot born model and the daughter of a retired British Army major 6 They have two sons who were raised in Hong Kong Jamie a vice president of MTV Networks Europe citation needed and Ben who works for Soho House 7 The family lived in Hampstead north London in a house known as the Versailles of London 11 It has a 55 foot 17 m ballroom a cinema a dining room that seats 30 and a 2 acre 0 81 ha garden with a lake 7 He has homes in Hong Kong and owns the former stable block of Pixton Park Dulverton on the Somerset Devon borders 22 Purchased in 2005 the Pixton building has an interior designed by Tara Bernerd daughter of property developer Elliott Bernerd 18 In 2016 Caring and Stead divorced in a high profile case which was described as Britain s biggest divorce 23 He left his wife to move into a 32 million home in St John s Wood with 35 year old Brazilian Patricia Mondinni with whom he had a son 22 In March 2018 Caring married Mondinni 23 The couple also have two daughters 24 His friends include Sir Philip Green and Scottish philanthropist Sir Tom Hunter 25 His family relations include stockbroker Anthony Parnes and his son Michael Parnes CEO of stock brokerage Old Park Lane Capital 26 2004 Indian Ocean earthquake Edit Main article 2004 Indian Ocean earthquake In 2004 over the Christmas period Caring and his sons were scuba diving in the Maldives On Boxing Day the dive master suggested they sail to an atoll and dive nearby Anchored on the north side of the atoll they dived to 100 feet 30 m for 45 minutes On their return to the surface Caring received calls from friends around the world asking Are you all right 7 Protected by the atoll the divers had felt a blip but it could have been a big boat 1 Divers on the southside of the atoll in the path of the tsunami were later found washed up 100 miles 160 km away 1 Sir Philip Green sent his private jet to pick the family up and Caring donated 1 million to the tsunami relief fund 7 1 My two sons nearly drowned with me After you ve experienced something like that you examine things for a couple of hours and think I must smell the roses Did I see the light No But it does change the way you think the way you look at the world Controversy Edit In December 2014 Michelle Young accused Philip Green Caring and Simon Cowell of helping her ex husband businessman Scot Young to hide assets and so avoid paying maintenance to his ex wife and their two daughters 27 In February 2015 a note from HSBC bankers in Caring s files mentioned that Philip Green s wife Tina Green had been holding part of Caring s assets in cash on his behalf prompting suspicions that Caring might have funnelled profits through Tina Green to avoid paying taxes on his assets 28 References Edit a b c d e f g h i j k l m Lydia Slater 12 June 2009 Richard Carings Restaurant Empire thisislondon co uk Archived from the original on 5 February 2011 Retrieved 28 December 2009 a b c d How Richard Caring piles up trophy assets www ft com 23 April 2010 Retrieved 5 September 2022 Our History Caprice Holdings www caprice holdings co uk Retrieved 9 July 2019 The Sunday Times Rich List 2021 www thetimes co uk Retrieved 17 November 2021 Richard Allan CARING Personal Appointments free information from Companies House Beta companieshouse gov uk Retrieved 25 December 2016 a b c d How Jewish is Richard Caring thejc com 1 May 2008 Retrieved 28 December 2009 a b c d e f g h i j k l m n o p q r s t u v w x y Chris Blackhurst 1 June 2009 The MT Interview Richard Caring Management Today Archived from the original on 3 August 2020 Retrieved 28 December 2009 China Influence The Brits that Changed China Richard Caring a b c d e Lewis Jane 16 July 2007 Richard Caring from the Ivy to Annabel s MoneyWeek Archived from the original on 18 April 2019 Retrieved 5 September 2022 a b c d e f g h i j k Richard Caring squaremeal co uk Retrieved 28 December 2009 a b c d e Richard Caring The Times London UK 27 April 2009 Retrieved 28 December 2009 Rags to riches Richard Caring eyes Prada thefirstpost co uk 10 July 2007 Retrieved 28 December 2009 Wentworth golf club sold to Beijing based Reignwood for 135m The Guardian 12 September 2014 Subramanian Samanth 2 March 2021 The rich vs the very very rich the Wentworth golf club rebellion Guardian Retrieved 5 March 2021 a b c d e f g h No 78 Richard Caring London UK Media Guardian 100 2009 13 July 2009 Archived from the original on 14 March 2016 Retrieved 28 December 2009 Barriaux Marianne 1 June 2007 Ivy owner sells Strada chain for 140m The Guardian ISSN 0261 3077 Retrieved 12 June 2019 Hurley James 3 January 2019 Record turnover for Caprice Holdings owner of The Ivy The Times ISSN 0140 0460 Retrieved 17 April 2019 a b c Long Camilla 11 November 2007 The man who controls your social life The Times London UK Retrieved 28 December 2009 Walsh Dominic 29 April 2019 Ivy Collection climbs while peers hit wall The Times ISSN 0140 0460 Retrieved 12 June 2019 Richard Caring The Times London UK 27 April 2009 Retrieved 28 December 2009 verification needed Doward Jamie 21 November 2015 Tycoon owner of The Ivy and Annabel s hands Tories 290 000 The Observer ISSN 0029 7712 Retrieved 17 April 2019 a b Restaurants tycoon Caring faces huge payout after split from wife Evening Standard 6 October 2016 Retrieved 17 April 2019 a b Finnigan Lexi 6 October 2016 Britain s biggest divorce The Ivy owner Richard Caring faces 350m bill after separating from his wife Retrieved 24 September 2018 via www telegraph co uk Hodge Gavanndra 7 December 2019 Richard Caring interview I have tears in my eyes watching Peppa Pig The Times Retrieved 5 September 2022 Tom Hunter Meet Britain s most generous tycoon The Independent London UK 17 July 2006 Retrieved 28 December 2009 City diary Parnes rooting around the family tree Retrieved 25 December 2016 Gammell Caroline 11 April 2011 Michelle Young claims Sir Philip Green and Simon Cowell are helping estranged husband hide 2bn fortune Telegraph ISSN 0307 1235 Retrieved 3 May 2019 Leigh David Ball James Garside Juliette Pegg David 9 February 2015 HSBC files reveal mystery of Richard Caring and the 2m cash withdrawal The Guardian ISSN 0261 3077 Retrieved 3 May 2019 Retrieved from https en wikipedia org w index php title Richard Caring amp oldid 1119472587, wikipedia, wiki, book, books, library,

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