Rag trade billionaire Richard Caring is believed to be in talks to buy a majority stake in Soho House, the luxury private members' club group, in a deal which could value the company at £120m. If the deal does go through, founder Nick Jones is expected to retain a minority stake of around 20%. The group has overseas expansion plans, with new sites set for Miami, Berlin, Istanbul, Madrid and Los Angeles. There are also proposals for clubs in Tokyo, Shanghai, Cairo and Sydney by 2010. Caring is also reported to be interested in taking a stake in Quintessentially, the concierge company run by Ben Elliott, a nephew of the Duchess of Cornwall. The Sunday Times 14/10/07 (Business) page 3.1