Osim owner, V3, reorganises structure following Hong Kong IPO application by subsidiary
Sign up now: Get ST's newsletters delivered to your inbox
Led by businessman Ron Sim, the group now comprises three core business units - V3 Brands, V3 Capital and V3 Assets.
PHOTO: LIANHE ZAOBAO
Follow topic:
SINGAPORE - V3 Group, which owns brands such as Osim and TWG Tea, announced on Tuesday (March 8) a new group structure to support its continued growth.
Led by businessman Ron Sim, the group now comprises 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 main board of Hong Kong's stock exchange.
Other holdings in V3 Brands include wellness supplements brand LAC, store fixtures specialist Futuristic Store Fixtures, and a stake in halal-certified 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.
Osim listed on the Singapore Exchange in 2000 but delisted in 2016 when its founder, Mr Sim, took the company private.
In 2018, Mr Sim allowed the group's Hong Kong listing application to lapse amid intense 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 in 2021, underscoring its growth potential and resilience despite an ongoing 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," he said.
Private equity giant KKR partner Jaka Prasetya said in the V3 announcement: "We strongly believe in the continued growth of Asia's consumer sector. This reorganisation by V3 Group will further enhance its ability to build brands and capture opportunities across Asia and beyond."
