Ron Sim’s V3 Group is expanding globally with the acquisition of century-old Moroccan brand Bacha Coffee and TWG Tea. These high-end brands offer a luxurious experience for customers, with products like gold-plated coffee pots and premium teas.
Sim, who made his fortune with Osim massage chairs, is now focused on creating premium brands with universal appeal. He has invested $100 million to grow Bacha Coffee, with plans to open over 100 stores by 2030. The brand’s success has been evident, with a net profit of S$2.2 million in 2023.
Bacha Coffee, inspired by a Moroccan palace, now has stores in Asia, Africa, the Middle East, and Europe. Sim’s partner, Taha Bouqdib, has been instrumental in expanding the brand globally. In addition to Bacha, Sim also owns TWG Tea, which has seen growth in revenue and net profit in recent years.
While Sim’s massage chair business, Osim, has faced challenges in the Chinese market, he remains optimistic about its growth potential. He continues to innovate with new products like a massage sofa and gaming chair. The demand for massage chairs is expected to double by 2030.
Sim’s focus on the beverage industry is driven by the growing demand for coffee and tea, with revenues expected to reach $159 billion by 2028. Bacha has invested in a new coffee processing factory in Morocco to support its expansion into Europe, the Middle East, and the U.S. market.
Sim’s real estate investments, including a stake in Perennial Holdings, are also flourishing. Projects like the Skywaters mixed-use complex and the redevelopment of Golden Mile Complex are set to transform Singapore’s skyline. Perennial’s focus on healthcare and eldercare facilities is also contributing to its growth.
Despite setbacks in the past, including a failed IPO for V3 Brands, Sim remains focused on building his business empire. With the support of investors like KKR, he plans to continue expanding his brands and leaving a lasting legacy in the global market.
