Philips Domestic Appliances
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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 | ||||
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. |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
Philips Domestic Appliances | ||||
No assessment data currently available for Philips Domestic Appliances | ||||
Hillhouse Capital Management Ltd | ||||
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
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 |