V3 Group – the parent company of renowned brands like TWG Tea or OSIM – appoints George Yeo as a senior advisor, according to a statement that underlined ambitions for further digital expansion.
Yeo joins V3 Group to provide strategic advice on key markets – Singapore, China, ASEAN and the rest of Asia – as well as innovations and investments, the statement added.
Yeo is currently an independent board director of Hong Kong-listed AIA and U.S.-listed e-commerce platform Pinduoduo, the second-largest online marketplace in China by number of users and orders. He is also a senior advisor to Kerry Group and Kerry Logistics Network. Previously, he spent 23 years with the Singapore government as minister for a wide array of units including information and the arts (1990-1999), health (1994-1997), trade and industry (1994 to 2004) and foreign affairs (2004 to 2011).
Covid-Fueled Digitalization
The ongoing coronavirus pandemic has spurred the need for greater innovation across the spectrum and V3 highlighted some examples of digitalization within its business.
Under its V3 Brands subsidiary, massage chair firm OSIM, TWG and health brand GNC have all seen increased integration with e-commerce infrastructure in key growth markets. Through the fintech arm of its V3 Capital subsidiary, it is also a partner of «Beyond», a consortium seeking a virtual banking license in Singapore. Its third subsidiary, V3 Assets, includes holdings in real estate, and the private and public markets.
«[V3 founder and executive chairman, Ron Sim] is an old friend,» Yeo said in the statement. «I share [Sim’s] belief in the importance of curiosity, creativity and connectivity, and admire his drive to innovate and contribute to society.»
