In an unabashedly seasonal marketing pitch, Osim, a Singapore-based maker of electronic massage chairs, is luring weary celebrants of Chinese New Year with a series of special offers including a “uPhoria” massager that will “recharge and energise in the Year of the Horse”.
Osim is not much of a household name outside its home market of Singapore, where it is ranked about 70th by market capitalisation on the stock exchange.
But, buoyed by 20 consecutive quarters of profit growth, the world’s largest maker of massage chairs plans to open about 25 outlets in China this year, building on an existing network in 30 countries. Equally ambitious plans are afoot for TWG Tea. Osim first invested in the boutique tea seller three months ago and last week increased its stake. TWG Tea will add 20 outlets this year in Asia and the Middle East, on top of its existing 26.