Singapore-based health shop group Osim has opened its first UK branch, and it plans to roll out a 50-strong nationwide chain over the next five years.
Osim was founded in 1980 by Ron Sim and originally sold electrical goods, but now focuses on lifestyle and health products, ranging from massage chairs to food supplements. The retailer is quoted on the Singapore stock exchange and generated a turnover of S$42 million (£14.5 million) in the year to March 2002, with net profits of S$3.2 million (£1.1 million).
Osim has 286 stores worldwide, in locations such as Hong Kong, Taiwan, China, Indonesia, Malaysia, the US, UAE and Australia. Osim (UK) has been set up as the master franchise responsible for the whole of the UK, and its first standalone outlet will be at Bluewater, where a 600 sq ft (55 sq m) unit is to open in August.
Cushman & Wakefield Healey & Baker has won the contract to advise Osim on its UK expansion plans. Associate Martin Zizala, who is handling the acquisition, said the standard requirement was for units of between 500 sq ft (45 sq m) and 750 sq ft (70 sq m).
Zizala feels that Osim will trade best from major shopping malls, and talks are already under way regarding half-a-dozen locations.
To keep the logistics chain simple, the initial roll-out will be in London and the Southeast, to build on the foothold established at Bluewater.
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