Early Life
Ron Sim Chye Hock was born in Singapore in 1958, into a family with seven children. His parents were a taxi driver and a cleaner. Growing up in a working-class household, Sim experienced financial hardships, which fueled his drive. He began working at a young age, selling noodles to contribute to his family's income. He attended Balestier Hill Technical School (Beatty Secondary School) but left school after completing his O-Levels at approximately 16 years old due to financial constraints, taking on various jobs.
Rise to Success
Sim's entrepreneurial journey began in 1980 with R. Sim Trading, selling household goods. Facing the 1985 recession, he pivoted towards the health and wellness sector, establishing Health Care & Check in 1989. In 1994, he rebranded the company as OSIM International, focusing on massage chairs and expanding globally. OSIM was listed on the Singapore Exchange in 2000 and expanded to over 400 stores in more than 25 countries. He took OSIM private in 2016 under the V3 Group. Sim has since expanded into luxury lifestyle brands through the V3 Group, including TWG Tea and Bacha Coffee.
Key Business Strategies
Sim's business strategies center on innovation, branding, and customer focus. He emphasizes designing new products to meet customer needs. He is known for adapting to economic challenges and building sustainable brands. Sim's focus on wellness and a customer-centric approach has been pivotal to his success, as he has expanded the company’s portfolio to include gourmet and wellness sectors.
Philanthropy
Ron Sim has been involved in philanthropy through the OSIM brand, sponsoring events such as the Beijing Triathlon, Hong Kong ITU Triathlon Asian Cup, Singapore Triathlon, and Singapore Sundown Marathon. He has also supported the Children's Cancer Foundation and set up a scholarship fund for international management at PSB Academy. He serves on advisory boards and is a trustee board member of the Tan Tock Seng Hospital Community Charity Fund.
