Ron Sim speaks out about Osim future
Sim, who completed a share buyback costing about $300 million this year – 16 years after it listed raising $30 million – said he plans to build up the brands in the company’s portfolio, which currently include GNC and TWG as well as the original massage chair chain Osim. When it listed, the company operated about 100 stores – today it has 1196 in 30 countries.
In an extensive interview with the Straits Times which can be read here, Sim said that freed from the “distractions’ of running a listed company, he can give his undivided focus to growing the group.
“Today, I have a great opportunity to restructure and grow it far bigger than what it is, over the next five-10 years,” he said. “There are a lot of opportunities to grow, not only for OSIM, GNC and TWG. There are many small companies in the pocket which we are also growing. Over time, we will have a brand and concept that we can regionalise, if not globalise. So it’s full of opportunities.
“I’m 58 now. I’m still hungry, still young. I think I still have another good 15 years. I think I know the value of this company. I think I know how to grow it further.”
In the interview, Sim discusses strengthening the management teams of the various divisions, the fit of Osim stores as the group expands, reacting to digital disruption – and shares his views on the regulatory environment of listed companies.