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Philips Domestic Appliances

OVERALL

Owned
CHN
Rating
No rating

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.

Company Ownership

Philips Domestic Appliances   NLD     website         
  Hillhouse Capital Management Ltd   
   owns 100% of Philips Domestic Appliances  
CHN     website   email      

Private equity firm

Asia-focused private equity firm founded in 2005 by Lei Zhang, with over US$50b under management. Acquired Philips' Domestic Appliances business in 2021.

> About the Ratings

Company Assessment

PRAISE CRITICISM INFORMATION
Philips Domestic Appliances
No assessment data currently available for Philips Domestic Appliances
Hillhouse Capital Management Ltd
Business Ethics 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)

> About the Icons

Company Details

Type Private company
Revenue 2.2 billion EUR (2020)
Employees 7,000 (2020)

Contact Details

Address Netherlands
Website www.philips.com/a-w/about/news/archive/standard/news/press/2021/20210325-philips-to-sell-its-domestic-appliances-business-to-global-investment-firm-hillhouse-capital.html

Products / Brands

Philips Domestic Appliances
Philips Vacuum Cleaners
Philips Coffee Machines
Philips Small Kitchen Appliances
Philips Irons
Saeco Coffee Machines


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