Singapore-based V3 Group has, on March 8, announced a new group structure to support its continued growth.
The group, led by businessman Ron Sim, has a diversified portfolio of assets in the well-being, luxury gourmet, capital markets, real estate and integrated healthcare services segments.
According to the statement released by the group, V3 will now comprise three core business units – V3 Brands with leading global investment group and significant shareholder KKR, V3 Capital, as well as V3 Assets.
V3 Brands will focus on owning and creating brands in the well-being and luxury gourmet segments in Asia and around the world. Its subsidiary, V3 Brands Asia Limited, which recently filed an application to list on the main board of Hong Kong’s stock exchange, holds household brand OSIM.
See also: From Osim to V3: The phoenix rises?
Other holdings under V3 Brands include store fixtures specialist Futuristic Fixtures, TWG Tea, Bacha Coffee, as well as a stake in premium cheesecake retailer Cat & the Fiddle.
See also: New IHH Healthcare CEO Nair lays out growth plans
Meanwhile, V3 Capital will seek investment opportunities in the global markets to generate value and innovation for the group.
Finally, V3 Assets holds interest in real estate assets and integrated healthcare services, including a significant stake in Perennial Holdings.
"The brands and businesses under V3 Group performed well in 2021, underscoring the group’s growth potential and resilience despite an ongoing global 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,” says Sim, who is the executive chairman of the group.
See also: Seatrium to pay $76.5 mil to Singapore authorities under deferred prosecution agreement
“I am confident that this reorganisation will further enhance the group’s ability to innovate, grow, and execute, as we pursue our vision of creating scalable and sustainable value for our stakeholders,” he adds.
Jaka Prasetya, partner of KKR, says, "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. We look forward to more success from Ron and his team ahead.”
Photo: Samuel Isaac Chua/The Edge Singapore
