V3 Group reorganises structure to support growth
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V3 Group, which owns brands like Osim and TWG Tea, announced yesterday a new group structure to support its continued growth.
Led by Mr Ron Sim, the group will comprise three core business units - V3 Brands, V3 Capital and V3 Assets - which hold its assets in the well-being, luxury gourmet, capital markets, real estate and integrated healthcare services segments.
V3 Brands will focus on the ownership and creation of brands in the well-being and luxury gourmet segments in Asia and around the world. Its subsidiary V3 Brands Asia filed an application on Feb 28 for an initial public offering on the mainboard of Hong Kong's stock exchange.
Other holdings in V3 Brands include wellness supplements brand LAC, store fixtures specialist Futuristic Fixtures, and a stake in cheesecake retailer Cat & the Fiddle.
V3 Brands also owns the V3 Gourmet unit, which holds brands such as luxury tea brand TWG Tea, coffee boutique Bacha Coffee and Mediterranean restaurant Le Cabestan in Casablanca, Morocco.
Meanwhile, V3 Brands Asia holds Osim, which is known for its massage chairs and relaxation products. Osim listed on the Singapore Exchange in 2000 but delisted in 2016 when its founder, Mr Sim, took it private. In 2018, he let the group's Hong Kong listing application lapse amid volatility and weakness in the global stock market.
V3 Capital will "seek thematic investment opportunities" in the global markets. With a mandate for both traditional and alternative investments, the unit has the flexibility to engage with a range of structures and vehicles.
V3 Assets holds interests in enduring real estate assets and integrated healthcare services.
The unit is a significant shareholder in integrated real estate and healthcare company Perennial Holdings, which focuses on large-scale, mixed-use developments in Asia. Perennial is also an integrated healthcare services owner, operator and provider in China.
Mr Sim, V3 Group's executive chairman, said the brands and businesses under the group performed well last year, underscoring its growth potential and resilience despite the Covid-19 pandemic. "The establishment of our key business units will further sharpen our business building approach, strengthen our focus and give us added flexibility as we pursue growth."
