The Straits Times / The Business Times News on OSIM

Osim expands into Vietnam, Pakistan

HEALTHCARE group Osim International has signed on two master franchisees for Vietnam and Pakistan, an expansion move that could see at least 35 stores set up over the next five years in the two new markets.

Representations International Pte Ltd will be the master franchisee for Osim Vietnam, while Bee Enterprises Ltd will run Osim Pakistan.

'We welcome these new additions to the Osim family,' said Osim founder and chief executive Ron Sim. 'These two new markets will help keep up the forward momentum in the globalisation of Osim, as an increasing number of consumers in new markets discover the benefits of a healthy lifestyle with Osim.'

The first store in Vietnam is expected to open in Ho Chi Minh City this month. At least 14 other exclusive outlets have been planned for the country in the next five years.

As for Pakistan, the first outlet will open by the end of this year in a prestigious commercial area in Lahore, and Osim Pakistan plans to open at least 20 stores in the next five years.

The latest franchise agreements bring Osim's reach to 26 markets to date, including Australia, Canada, India, Indonesia, Ireland, Korea, Kuwait, Myanmar, Philippines, Saudi Arabia, South Africa, Spain, Thailand, the United Arab Emirates, the UK and Ukraine.

In total, the group operates more than 1,000 outlets across the world.

Osim recently completed an acquisition of US retail chain Brookstone, which gave it access to 100 million households in the US through 290 Brookstone stores.

It had led a consortium including Temasek Capital and US-based private equity firm JW Childs to buy the retailer for about US$450 million.

For the half-year ended June 30, Osim reported a 53 per cent jump in net profit to S$20.1 million, on a 38 per cent turnover growth to S$221.3 million.

The company is due to release its third-quarter results next Wednes day.

Shares of Osim ended three cents higher at S$1.42 yesterday.