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Tri-Stage (Japan) Invests in JML Singapore by Buying Majority Stake
JML, the UK based consumer products company, has completed a deal to sell a 75% stake in its Singaporean subsidiary to Tri-Stage Inc (Japan).
JML (John Mills Limited) was incorporated in London in 1986 and recently celebrated its thirtieth anniversary. The company is the UK’s biggest ‘as seen on TV’ company and a household name. JML’s products can be found in most major retail chains in the UK and Ireland. JML is renowned for promoting its products in stores with digital screens and combining this point of sale marketing with heavyweight TV advertising. The company also runs its own 24hour TV home shopping channel, is a substantial direct response television (DRTV) advertiser and is a rapidly growing ecommerce retailer. Internationally, JML exports to distributors in over 80 countries and has a fully owned subsidiary in Germany.
JML Singapore Pte was set up in 2010 to establish JML’s highly successful retail model in both Singapore and Hong Kong. The company developed significant business with retailers such as Watsons, FairPrice, Cheers, Guardian, 7-eleven, Wellcome and Giant. Subsequently the subsidiary expanded into TV home shopping and ecommerce in Singapore and extended distribution into Malaysia. Until the completion of this most recent transaction, JML Singapore was 85% owned by JML UK and 15% by local operator Responze TV Limited.
Tri Stage Inc is a provider of TV home shopping airtime and direct marketing support services. The company is based in Tokyo and is publicly listed on the MOTHERS stock exchange. Tri Stage is expanding internationally targeting ASEAN counties having recently acquired shareholdings in TV Direct (Thailand) and PT Merdis International (Indonesia).
Following completion of this deal, Tri Stage hold 75% of JML Singapore with JML UK holding 15% and Responze TV the remaining 10%. JML Singapore continues to be headed by managing director Joline Lee.
As a member of the Tri Stage Group, JML Singapore will have access to a broad range of new products from Japan and Korea in addition to those from JML UK. Furthermore, by combining the expertise of Tri Stage and JML, the company will be in a very strong position to exploit the huge opportunities that are available in the region and better meet consumers’ strong desires for its products.
Commenting on Tri Stage’s investment, Ken Daly, CEO of JML said, ‘This is a great deal for JML, for Tri Stage, for the team in Singapore and Hong Kong, and it’s a great deal for our customers. We believe this secures a very exciting future for JML Singapore. This furthers JML Group’s strategy of accelerating our international expansion through strong distribution partners across the globe.’