Founder, Chairman and CEO
Osim founder, chairman and CEO Ron Sim joined the ranks of the world's billionaires for the first time in 2013, according to Forbes, which estimates his net-worth at US$1 billion. Sim also ranked 21st on the list of Singapore's Richest. Osim, which Sim founded in 1979, has grown steadily over the years, with its third quarter 2013 results seeing its 19th consecutive quarter of growth in sales and profitability. This contributed to a nine-month, year-to-date rise of five percent in sales at $469 million and a 15 percent increase in profit at $74 million. The group reported a 16 percent rise in after tax profits to $23million on a seven percent rise in revenue to $153 million. Physically, Osim has spread its roots from its Singapore base to more than 596 outlets in 34 countries. In mid-2013, it soft-launched its high-end uInfinity chair in Hong Kong, following the launch of the uAngel chair earlier that year. Beyond chairs, Osim solidified its foothold in the luxury tea business — increasing its stake in TWG Tea from 35 percent to 45 percent mid-year and later to 53.7 percent to become majority owner of the company. Sim also owns US-based Brookstone, the GNC brand in South Asia and Richlife in China.