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Osim International

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OSIM International
Company typePrivately held company
IndustryWellness Technology, Healthcare
FoundedNovember 1980; 43 years ago (1980-11) in Singapore
FounderRon Sim
Headquarters65 Ubi Avenue 1, 408939[1],
Singapore
Key people
Ron Sim (Chairman), Charlie Teo (CEO),[2] Lynn Tan (Deputy CEO),[3] Mindy Wang (Deputy CEO)
Productswell-being chairs, massage chairs, massage products, wellness devices, health measurement products and beauty devices, gaming chairs

OSIM International Pte Ltd (Chinese: 傲胜国际企业; pinyin: Àoshèng guójì qǐyè) is a Singapore-based company that manufactures wellness technology and lifestyle products such as well being chairs, massage chairs and sofas, slimming belts, and pulse massagers.[4] The company also recently ventured to manufacturing gaming chairs and electronic products related to gaming, virtual reality and beauty and fitness.[5]

Company History

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In 1980, Singaporean entrepreneur Ron Sim founded R Sim trading, a company dedicated to the sale of home goods, kitchen utensils, wooden massagers and reflexology rollers in Singapore.[6] In 1983, the company opened its first store.[7] Subsequently, the company expanded its operations to Hong Kong, Taiwan and Malaysia.[7]

In 1993, the company officially launched the brand name OSIM, [7] a combination of Sim, the surname of its founder, and 'O' which stands for the globe.[1] After rebranding, OSIM focused on health and lifestyle products and continued to expand across Asia.[6]

OSIM was listed on the Singapore Exchange in July 2000,[8][9] selling 25% of the company's shares at the time of listing.[6] The company subsequently de-listed in 2016.[9]

In March 2016, Ron Sim, offered to buy out shares of OSIM to take the company private once again. This followed a significant drop in the company's net income.[10][11]

In 2018, OSIM applied to be listed in the Hong Kong Stock Exchange. However, the plan was aborted due to perceived intense volatility in the market.[8]

In 2021, OSIM was recognized by Deloitte as one of the Best Managed Companies in Singapore.[12] Also in 2021, OSIM expanded to new product categories such as in beauty and gaming.[5]

In March 2022, OSIM International, under the V3 Group, filed for listing on the Hong Kong Stock Exchange.[8]

Product Categories

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  • Well-being Chairs, Massage Chairs & Sofas
  • Gaming Chairs
  • Fitness and Health Monitors
  • Lower Body Massagers
  • Upper Body Massagers
  • Portable Massagers
  • Air Purifiers, Humidifiers and Water Purifiers
  • Electronic Beauty Products Series

Ambassadors

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Awards

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  • Red Dot Design Award 2016, Honourable Mention - OSIM International - uPamper 2[13]
  • ELLE Deco Best of 2020, Best Immersive Technology - OSIM International - uDream[14]
  • DFA Design for Asia Awards 2021, Merit Award, Product & Industrial Design, Leisure & Entertainment Product - OSIM International - uDream[15]
  • Red Dot Design Award Winner 2021, OSIM International - uDream[3][16]
  • Deloitte Best Managed Companies Awards 2021 Singapore, OSIM International[17]
  • Deloitte Best Managed Companies Awards 2022 Singapore, OSIM International[2]
  • CES Innovation Award 2022 [18]
  • Consumer Electronics Show (CES) Innovation Award 2022 Honoree, OSIM International - Smart DIY Massage Chair[19][20]

Extension Programs

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  • 2005-2006, OSIM International was the sponsor of the Beijing Triathlon[21]
  • In 2008, OSIM International sponsored the Hong Kong ITU Triathlon Asian Cup[22]
  • In 2010, OSIM sponsored the Singapore Triathlon[21]
  • In 2010, OSIM International Co-sponsored the inaugural Standard Chartered Marathon Singapore[23]
  • From 2011 up to 2014, OSIM International was the Title Sponsor of the Badminton World Federation (BWF) World Super Series for all 13 events of the series.[24]
  • In 2015, OSIM International became a sponsor of Singapore Sundown Marathon[25]

References

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  1. ^ a b "Singapore Business Directory". Singapore Business Directory. Retrieved 2022-12-09.
  2. ^ a b "Winners announced for the second edition of Singapore Best Managed Companies awards program | Deloitte Singapore | Deloitte Private | Press releases". Deloitte Singapore.
  3. ^ a b "OSIM's uDream Wins Red Dot Award: Product Design 2021". justsaying.ASIA. 2021-04-12.
  4. ^ Venkat, P.R.; Macfarlane, Alec (2017-01-19). "OSIM Massage-Chair Owner Plans Hong Kong IPO". www.wsj.com. The Wall Street Journal.
  5. ^ a b Chevi, Deepa (2021-10-01). "OSIM fronts virtual ambassador Rae in new campaign as part of VR pivot". www.marketing-interactive.com.
  6. ^ a b c Ambler, Pamela (2019-09-02). "The Billionaire Who Welcomed The Barbarians At His Gate: To Improve His Company, Ron Sim Knew KKR Was His Best Hope". Forbes.
  7. ^ a b c Tong, Van (2022-03-02). "TWG parent V3 Group to launch Hong Kong IPO". Inside Retail.
  8. ^ a b c Sutat, Chew (2022-03-03). "From Osim to V3: The phoenix rises?". www.theedgesingapore.com. The Edge Singapore.
  9. ^ a b "Ron Sim's V3, which owns Osim, files for Hong Kong IPO | The Straits Times". www.straitstimes.com. 2022-03-01.
  10. ^ Chanjaroen, Chanyaporn (2016-04-05). "Osim CEO Lifts Offer for Massage-Chair Maker to $241 Million". Bloomberg.com.
  11. ^ Hwee Hwee, Tan (2016-03-07). "OSIM chief offers to buy out the company at S$1.32 per share". www.businesstimes.com.sg.
  12. ^ "6 firms awarded in Deloitte's inaugural Singapore's Best Managed Companies". Singapore Business Review. 2 July 2021.
  13. ^ "Massager OSIM uPamper 2". Red Dot.
  14. ^ "《ELLE DECORATION家居廊》Best of year展览，让"侬屋里"变聪明-美通社PR-Newswire". www.prnasia.com (in Chinese (China)).
  15. ^ "OSIM uDream, OSIM International Pte. Ltd. / Singapore". DFA Awards Online Showcase.
  16. ^ "Massage Chair OSIM uDream". Red Dot.
  17. ^ "Best Managed Companies Awards 2021 | Deloitte Singapore | Deloitte Private". Deloitte Singapore.
  18. ^ read, Zed B. W. ·TechWellness··3 min (2021-11-26). "OSIM Wins First-Ever CES Innovation Award For Its Smart DIY Massage Chair". justsaying.ASIA. Retrieved 2022-01-24.{{cite web}}: CS1 maint: numeric names: authors list (link)
  19. ^ "Innovation Award Honorees". www.ces.tech.
  20. ^ Zed, B.W. (2021-11-26). "OSIM Wins First-Ever CES Innovation Award For Its Smart DIY Massage Chair". justsaying.asia.
  21. ^ a b "OSIM". enterprisesg.com.
  22. ^ "Hong Kong Asian Cup this weekend". World Triathlon. 2008-11-12.
  23. ^ "OSIM International Limited Supports Another Local Endurance Sports Event". Sport Singapore.
  24. ^ "ESG Secures Osim for BWF World Superseries". www.enterprisesg.com. ESG. 5 December 2010.
  25. ^ Ganesan, Deepanraj (2015-04-06). "Athletics: OSIM on board for the long run as Sundown Marathon sponsor | The Straits Times". www.straitstimes.com.
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