Britain is set to witness parties where young women agree to enter into relationships with wealthy older men in return for large sums of money, after the trend had developed quite a following in the US.
The American organisers of Sugar Daddy Parties, where mutual beneficial arrangements are struck amounting to tens of thousands, are now seeking venues in London.
AdvertisementDenying that they were encouraging prostitution, the organisers said that they already have thousands of British "sugar babies" in their late teens or early twenties waiting to meet rich patrons, so that they can pay their university fees or fund glamorous living.
"We have perfected our parties and are now ready to launch in even bigger markets like London," the Telegraph quoted Brandon Wade, the chief executive of Seeking Arrangement as saying.
"We are due to start early in 2012."
While some guests struck lucrative deals on the spot, others exchanged phone numbers in these parties for further negotiations.
"500 dollars per date is common," Mr Wade said.
"But we know of arrangements worth 10,000 and 20,000 dollars per month."
Wade claimed that two of the top 10 from Forbes magazine's list of wealthiest American billionaires are members of his site and used it to maintain their romantic lives.
Seeking Arrangement already has thousands of British members on its website, which encourages striking deals online.
While male members, who state that they are married, are charged 50 dollars per month, "Sugar babies" can join for free.