Image via Shutterstock.
It’s unclear how much Paltrow paid for Hustler Hollywood, which is located on Tinseltown’s Sunset Strip, that describes itself as ?the world’s premiere erotic boutique [stocking] all [of] the best in apparel, lingerie, DVDs, novelties, books and toys.?
The site was founded in 1998 as part of Hustler founder Larry Flynt’s pornography empire, but will be demolished and replaced with a private members’ club. Paltrow is said to be working with business partner and veteran property and leisure investor Gary Landesberg.
Arthur Sando, Flynt?s representative, told Page Six: ?The building is in escrow and the Hustler Hollywood store will be moving to a new location in Hollywood later this year. The current location will remain open until that time.?
The pair are expected to develop a club similar to that of London-based The Arts Club, which Landesberg is the chairman and principal shareholder of following an acquisition in 2009, while Paltrow is an investor and board member.
Read more on American celebrities in business:
- Rapper Snoop Dogg eyes marijuana-based startups with new fund
- US beats UK on list of the 20 most marketable celebrities
- 5 famous businesses that bizarrely hired celebrities
The Mayfair venue was originally established in 1863, while current members have shared interests in art, architecture, fashion, film, literature, music, performance, photography, science, theatre and TV.
?It is now very much a place where creative and entrepreneurial patrons come together to meet, exchange ideas, dine and participate in the various events, and the Club has reclaimed its place at the heart of contemporary cultural life in London,? according to the company.
It costs ?2,000 a year for an annual membership with ?full access and privileges of the Club? while those aged under 30 ? you must be 21 or over to join ? can rest easy knowing that they’ll only be charged ?1,250 a year. It’s believed the Hollywood venue will charge even more.
For an idea of the club’s atmosphere, here are some of the rules members must adhere to:
- No drunkenness, bad language or other misconduct is permitted.
- Laptop computers, mobile telephones and business papers may be used in the Club up until 7.00pm (other than in the Dining Room) but not in a manner irritating to other members.
- The taking of photographs or digital images is not permitted without the prior written permission of the Secretary or Manager on Duty.
- There will be a charge on each bottle of wine or spirit brought in to the Club by a member for consumption on the premises.
Elsewhere, members looking to take their dogs into the club must secure permission first, so it’s unlikely the Hollywood elite who will likely join are going to be permitted entry with their handbag-sized pooches.
Share this story