Domestic appliances
Formerly Philips Domestic Appliances. In 2021 Philips sold its Domestic Appliances business (kitchen, coffee, garment care and home care appliances), along with a 15-year brand license agreement, to Hillhouse Capital. Renamed Versuni in 2023.
Company Ownership
Versuni Holding BV
NLD
Hillhouse Capital Management Ltd
owns 100% of Versuni Holding BV
CHN
Private equity firm
Asia-focused private equity firm founded in 2005 by Lei Zhang, with over US$73b under management. Acquired Philips' Domestic Appliances business in 2021. Other notable investments include Tencent, JD.com, Belle International and LifeStyles Healthcare.
Company Assessment
(Last updated Jan 2023)
Praise
Criticism
Information
Versuni Holding BV
Praise
Criticism
Information
Sustainability claims
This company has sustainability claims on its website.
Source: company website
(2023)
Hillhouse Capital Management Ltd
Praise
Criticism
Information
Child abuse scandal in China
In 2017, a child abuse scandal at RYB Education Inc. reduced its stock price by nearly 40%. The collapse cost the company's top ten institutional investors, including this company which is China's largest private equity fund, a combined US$52 million on paper. The losses might have been avoided if investors had taken into account some inherent weaknesses in RYB's business model which had a lack of background checks on teachers, and an increasing dependence of a network of lucrative franchise operations over which the parent company had little control. If more diligence work has been done by Hillhouse Capital, it could have avoided a two-day paper loss of US$4.4 million on the 430,000 RYB shares it holds.
Source: China Money Network
(2017)
Company Details
Type:
Private company
Revenue:
2.2 billion EUR
(2020)
Employees:
7,000
(2020)
Contact Details
Products / Brands
Versuni / Philips (brand owner)
Gaggia
Coffee Machines
Philips
Irons
Philips
Air Purifiers
Philips
Vacuum Cleaners
Philips
Coffee Machines
Philips
Small Kitchen Appliances
Saeco
Coffee Machines