Who Owns Chippendales?

Chippendales is a male-only touring dance troupe based in Las Vegas, Nevada. The group was formed in 1979 by Somen Banerjee, an Indian immigrant who moved to the US in the 1960s.

The all-male revue is known for its male striptease performances and distinctive upper body costume, including a bow tie, collar, and shirt cuffs. These items are worn on a bare torso. In Apr 2023, Chippendales celebrated their 21^st anniversary. [1]

Chippendales’ dancers provide a choreographed, immersive, sexually charged experience. They are the top choice for bachelorette parties, birthdays, and wild girls’ night outs. In 2022, Chippendales won the “Best Male Revue” category at the Best of Las Vegas awards for the 10^th year. They were also voted “Best Bachelorette Party” in Las Vegas. [2]

Chippendales mostly perform at the Rio All-Suite Hotel and Casino in Las Vegas. However, they also tour almost every US state and over 25 countries across six continents.

The group performs for millions of women worldwide. In 2024, Chippendales scheduled 27 shows in Germany from Oct 15^th to Nov 23^rd. [3]

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Who is Chippendales’ Owner?

Chippendales is owned by a private equity firm based in New York. The company took over the group in 2000 after its former owner was imprisoned for fraud. In Sep 2001, Chippendales closed its New York location and moved to Las Vegas.

The move was funded by managing partner Kevin Denberg, who gave the dancers a second life. In 2002, Chippendales laid roots at the Rio All-Suite Hotel and Casino in Las Vegas.

Chippendales has performed at sold-out houses at the Casino in Las Vegas and the Rio All-Suite Hotel for 22 years.

Katerina Tabakhov is Chippendales’ Director of Operations. She took over from Kevin Denberg. In Sep 2021, Chippendales resumed performances at Rio All-Suite Hotel & Casino after a 17-month break. [4]

The Chippendales’ cast of 20 members is split into domestic and international productions. Both teams blend sex appeal and stylish flirtation as they sing and dance their way into the hearts of their female audience.

Image Credit: Michael Discenza

In Apr 2023, the group welcomed back Vinny Guadagnino for a live performance in Las Vegas. Vinny Guadagnino stars in the award-winning “Jersey Shore” TV show. [5]

Chippendales is one of the hottest shows in Las Vegas, with over 8,700 performances during its 22-year residency at Rio Hotel & Casino. Several celebrities have joined Chippendales’ exclusive roster as guest hosts, including Vinny Guadanigno, international supermodel Tyson Beckford, Ian Ziering, Joey Lawrence, and “America’s Next Top Model” champ Nyle DiMarco.

In Mar 2024, “Dancing with the Stars” professional Gleb Savchenko performed with Chippendales in Las Vegas. Savchenko joined the group’s world tour cast at the Hard Rock Hotel & Casino Atlantic City. [6]

Chippendales’ Ownership History

The “Welcome to Chippendales” TV series dramatizes Chippendales’ ownership history. The eight-episode true-crime docudrama, starring Kumail Nanjiani, delves into Chippendales’ rise and its owner’s downfall. Chippendales was founded by Somen “Steve” Banerjee in the 1980s in Los Angeles. Banerjee was Chippendales’ original owner.

Banerjee moved from India to the US in the 1960s. He operated a Mobil gas station in Southern California and worked for Mattel. In 1975, Banerjee acquired a failing LA club and named it Destiny II.

The dance club attracted few customers. Paul Snider, a club promoter and pimp, suggested Banerjee turn Destiny II into a strip joint for women. Banerjee’s partner and lawyer Bruce Nahin renamed it Chippendales and launched a striptease ladies’ club. [7]

Snider’s wife, Playboy Playmate Dorothy Stratten, suggested that the shirtless dancers wear bow tie collars and cuffs at Chippendale. This idea came from Hugh Hefner’s Playboy bunnies and fueled Chippendales’ success.

Chippendales became a cultural phenomenon within a few months. However, Banerjee’s corrupt business practices put his empire at risk. In 1979, the owner hired someone to burn down a rival nightclub. He attempted to do the same with another competitor – Red Onion Restaurant in Marina Del Rey. [8]

Banerjee hired Nick De Noia in 1981 to create dance routines for Chippendales. De Noia was a charismatic and award-winning choreographer. In 1984, De Noia quit Chippendales and moved to New York to set up “The Perfect Man” show.

This sexy Frankenstein send-up was similar to Chippendales. De Noia launched a successful tour under Chippendales Universal and paid royalties to Banerjee for using the Chippendale name.

Image Credit: Benjamin Brank

Banerjee earned a lot of money from De Noia’s shows. However, the deal created a rift in the relationship between the founder and the choreographer. Banerjee was convinced that De Noia was stealing from him and hired a hitman, Ray Colon, to take down De Noia.

In Apr 1987, De Noia was shot and killed in his New York office. The FBI arrested Colon and turned him into an informant to help them build a case against Banerjee.

In 1993, Banerjee was arrested and charged with hiring Colon to kill De Noia and the attempted murder of three former Chippendale dancers. He pleaded guilty to murder for hire, arson, and racketeering.

In Oct 1994, Banerjee committed suicide in his cell before his sentencing. His ex-wife, Irene Banerjee, inherited Chippendales. [9]

Irene Banerjee sold Chippendales for $2.5 million to former boy band manager Lou Pearlman in the ’90s. The owner later went to prison for fraud. In 2000, a private equity firm acquired Chippendales.

The group closed its New York location in Sep 2001 and moved to the Casino in Las Vegas and Rio All-Suite Hotel a year later. In Sep 2023, Chippendales kicked off its first tour in five years at the Hard Rock Hotel & Casino in Atlantic City. The show sold over $312,00 in tickets and attracted over 5,000 attendees. [10]

Chippendales’ Shareholder Structure

Chippendales is an independent all-male revue brand owned by a private equity company. The private equity firm became the majority controlling shareholder after taking over the group in 2000.

Chippendales’ shareholder structure includes insiders like managing partner Kevin Denberg and Director of Operations Katerina Tabakhov. Since 2002, the group has been performing to sold-out houses at the Rio All-Suite Hotel and Casino. This establishment has a minority stake in Chippendales. The brand generates approximately $5 million to $25 million in revenue annually. [11]

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