Zouk Singapore sold to Genting Hong Kong and expansion is on the horizon
Both the club, the brand and its annual festival Zoukout will come under new ownership later this year
Zouk Singapore, the crown jewel of the city’s nightlife scene and very well its tourism industry as well, is about to have a new owner.
Genting Hong Kong (GHK), one of the world’s leading leisure, entertainment and hospitality enterprises, is set to acquire the iconic Singaporean brand by the end of this year. Given that the new owner already operates a plethora of casinos, cruise ships and hotels worldwide, the expansion could very well see the brand head further overseas than just Asia.
Cheng, who opened the brand’s first trailblazing club in Singapore on Jiak Kim Street more than two decades ago, told The Straits Times today that he had gotten four offers for the club but went with GHK because he was most confident in the company’s ability to properly expand the brand.
“I started Zouk when I was 45. I am 68 now. I think I have taken Zouk from a baby to a fully mature adult. I think at my age, it will be quite hard to take Zouk any higher or grow to expand to other parts of the world,” he said to The Straits Times.
“Genting, on the other hand, has the capability. The only thing missing for them was a club.”
The agreement between the two parties is that the Genting Hong Kong will acquire Zouk’s existing major trademarks as well as the new club that is slated to open next year after it moves to its new location at Clarke Quay in Singapore.
The agreement excludes the club’s Kuala Lumpur branch, where Cheng, who is still highly regarded as one of Singpore’s most influential people, will remain on board as the non-executive chairman.
GHK will also be responsible for the operation of Zoukout, the club’s annual dance music festival that sees dozens of the world’s top DJs play alongside some of the regions most revered artists on the shores of Siloso Beach in Sentosa, Singapore. The event is entering its 15th year and saw over 50,000 revelers last year.
For now, GHK has just regional expansion in mind, something that Cheng think that the Zouk brand is ready for.
“Zouk, a world-class brand, has all along had ambitions to expand beyond Singapore and Malaysia,” said Cheng. “Genting Hong Kong will take the Zouk brand further and to greater heights, together with the existing Zouk Singapore team, mapping its footprint out of Singapore and Malaysia, and into the future.”
Despite handing over the reins, Benny Heng, the club’s newly appointed managing director and former general manager since 1993, will continue to oversee operations so to maintain the brand’s authenticity but will work closely with Andrew Lu from GHK, who will provide strategic input and direction for the expansion.
This comes as good news for the club’s legacy as it was almost forced to close this year but survived when it secured a new home at Clarke Quay, where it will relocate next year. The club has been at its existing location on Jiak Kim Street since it opened in 1991.
See out spotlight on the club here.
