Philips Domestic Appliances becomes Versuni release. The new company name is an important step following the agreement to divest the Domestic Appliances business by Royal Philips in September 2021 and the subsequent sale to Hillhouse Capital, a global investment firm
New company name inspired by the company’s mission to turn houses into homes Amsterdam, the Netherlands – Today, Philips Domestic Appliances has announced the change of its company name to Versuni. The new name is the next step after the Domestic Appliances business became independent in September 2021. Although the visual identity of the company is changing, its mission to turn houses into homes remains constant. As a licensee of Royal Philips, the company will continue to use the Philips consumer brand, as well as Saeco, Gaggia and Philips Walita, on its products and services. Consumers can also continue to use products of its other brands: Preethi, L’OR Barista and Senseo.
“Versuni begins a new chapter after we moved forward as a standalone company”, said Henk S. de Jong, CEO of Versuni. “We are committed to delivering the best possible solutions for our consumers and customers and will continue to excite with innovations that make life at home better, easier and healthier. And as we continue our journey as Versuni, expanding on our market leadership and exploring new opportunities, we are privileged to help consumers turn houses into homes.”
About the new company name Philips Domestic Appliances has a simple, powerful and consistent mission: turning houses into homes. This will continue to be the mission of Versuni. It is this mission that has been the inspiration for the new company name, a name based on two words that reflect the meaning of home to many people. Versuni puts a new spin on the powerful word – UNIVERSE. The company believes that home is about having a place that you can truly call your own. Versuni also speaks to the word UNIVERSAL. Because no matter where you live, we all have a need for home.Versuni, which is headquartered in the Netherlands, is active in more than 100 countries, and has a global innovation, manufacturing, and commercial footprint. With more than 900 patents on its name, the company’s portfolio spans kitchen appliances, coffee, climate care, garment and floor care.
The company has launched a wealth of successful household products that meet the changing needs of the consumer and deliver best in class innovation. These include the Philips PerfectCare Elite Steam Generator which has enabled consumers to iron at twice the speed, the Philips Air Purifier to breath cleaner air at home, the Philips SpeedPro Max Vacuum Cleaner which incorporates revolutionary wet and dry cleaning, and the Philips Fully Automatic Espresso Machine with LatteGo, the Saeco Xelsis Suprema and L’Or Barista and Senseo® to enjoy different types of coffee every day.
As Philips Domestic Appliances, the company also brought the Airfryer category to market and successfully rolled-out innovations such as the Philips Air Cooker 7000 Series, delivering great taste and nutrition via a connected app, and the Philips AquaTrio Cordless Wet & Dry Vacuum 9000 Series that cleans any floor type and mops your hard floors as it vacuums.
High-performance, sleek design and better for the environment… introducing the new PhilipsEcoConsciousEdition blender to our award-winning Eco Conscious Edition breakfast collection.
At PhilipsDomesticAppliances, our ambition is to create meaningful and much-loved consumer innovations designed with #sustainability at the very core. We develop cutting-edge products made with more sustainable materials that are easier to repair, refurbish, recycle to reduce waste during production and use.
That is why we’re happy to announce that our new blender is made with recycled bio-based plastic from waste vegetable oil. By forgoing traditional virgin plastic, we reduce CO2 emissions by 17% during the production process, limit water pollution and the overall use of soil resources. Our latest innovation is equipped with ProBlend technology so consumers can create smooth blends without the lumps. It’s a more sustainable alternative without compromising on high-performance or sleek design.
Sneakers aren’t simply footwear anymore, in many cases they’re an investment, so you want to keep them in good shape. Say hello to the Sneaker Cleaner from Philips.
It’s a handy, portable, rechargeable solution to make cleaning any spots or stains on your sneakers a snap, keeping them looking as sharp as they day you first pulled them onto your feet.The device comes with three different attachments – hard and soft brushes plus a soft sponge – and a water-resistant head, to make your sneakers sparkle without much more than the touch of a button. Say “see ya!” to potentially damaging scrubbing and rubbing.
Running on four AA batteries (which are included), Philips promise around 80 minutes of run time, with 500 RPM rotation and an IPX5 waterprood rating.
New from Philips The AquaTrio Cordless Wet & Dry Vacuum 9000 Series to their Floor Care category.
What does it do? This truly innovative 3-in-1 cleaning solution cleans every floor type efficiently. The Philips AquaTrio Cordless includes the AquaSpin™ technology, allowing people to mop their hard floors as it vacuums, picking up multiple dirt types and capturing dust, dirt and bacteria in just one go. It also comes with a vacuum only set-up and a detachable handheld for added convenience.
One advanced system with three powerful cleaning options
The Philips AquaTrio Cordless allows you to face any challenge with the option to easily switch between three powerful cleaning configurations:
1) Vacuum and mop, double the power in one stroke1: the unique AquaSpin™ nozzle vacuums and actively wet-cleans your hard floor, removing dust, dirt, stubborn stains, spills and up to 99.9%* of bacteria in one go.
2) Advanced vacuum only set-up: capture up to 98% of dust and dirt in each stroke*** on all your hard floors and soft floors such as carpets and rugs.
3) Detachable handheld vacuum for added convenience: clean upholstery, shelves and table surfaces with ease, while also perfect for quick touch-ups or car cleaning.
Vacuum and mop with double the power1 for the most hygienic clean
Unlike traditional mopping, the Philips AquaTrio Cordless system uses a constant flow of clean water and 2 high-speed self-cleaning Power Brushes with patented technology. These 2 ultra-soft microfiber Power Brushes counter-rotate at very high speed and clean backwards and forwards, capturing dust, dirt, and bacteria like no other cordless vacuum cleaner. The Aqua Diffusion™ System features separate clean water tank technology and soiled water collection, meaning you avoid spreading dirty water and each part of your floor is treated hygienically with clean water only – no dirt is left behind and no dirt is spread while cleaning.
Intelligent design and cleaning expertise in the palm of your hand
Designed for exceptional maneuverability on all types of floors, with deep reach under low furniture. Hard to detect dust and dirt becomes easy to spot with the help of LED lights on the nozzle. A digital LCD smart screen provides you with all information you need during and after the clean. It allows you to easily see battery power status, cleaning modes, adjust wetness levels for stubborn stains and spills, while colored animations and QR codes help to guide you during the cleaning process.
With the long-lasting runtime, there is no need to recharge during your cleaning. The powerful 25.2V lithium-ion battery brings runtime with up to 45 minutes2 in one go, or up to 90 minutes runtime with second battery3. Plus, Philips Domestic Appliances has added an automated after-clean mode to clean your full appliance in only 4 minutes, which makes sure that your appliance and Power Brushes are clean and ready for your next challenge. Simply place the appliance on the storage station and activate the AUTOCLEAN program and you’re good to go.
The Philips AquaTrio Cordless will be available from May 13th in China and as of July 1st in Germany via the Philips brand store or selected retailers in these countries. In the Netherlands, Belgium, Sweden, Norway, Poland and Hungary the product will be available after summer. More countries will follow in 2023.
What’s cooking? At Philips Domestic Appliances.Announce the launch their most innovative appliance yet: the Philips Air Cooker 7000 Series.
With this new product, nothing else is needed to cook healthier, nutritious food, as it steams, air steams, slow cooks, cooks sous-vide (low temperature, long cooking), bakes, roasts, reheats and defrosts… all in just one single appliance!
The PhilipsAirCooker is a connected appliance, that works together with the NutriU app, guiding you through the recipe step by step and offering a hassle free cooking experience by taking care of temperature, cooking style, times andsending notifications when food is done. It is a true game-changer, thanks to its unique NutriFlavor technology with climate control, which preserves 90%* of essential nutrients.
Today, we bring the benefits of new technology into the heart of the home, making it easy (& quick) to create healthier and tasty meals for everyone.
Consumer electronics giant Philips has launched the Philips Norelco Shaver Series 9000, a “revolutionary” shaver which pairs AI and the connected Philips GroomTribe app to deliver “the ultimate smart shaving experience”.
According to the brand, the Philips Norelco Shaver Series 9000 delivers superior closeness and personalised skin comfort, (when compared with Philips Norelco 9000 predecessor), even on five-day beards.
Features include a Pressure Guard sensor, which links with an intelligent light ring, illuminating in different colours to indicate whether and when the right amount of pressure is applied. Motion Control sensors in the Philips Norelco Shaver Series 9000, meanwhile, track and guide shaving motions for a more efficient shaving technique.
When used with the Philips GroomTribe app, the shaver provides real-time feedback to users on their shaving patterns including pressure, speed and motion, as well as personalised shaving plans and tips, Philips says. And, for improved shaving performance, the Power Adapt sensor reads hair density 500 times per second and auto-adapts cutting power for an effortless shave.
Philips Domestic Appliances are celebrating twenty years of Senseo being sustainable.
Throughout the last 20 years they have continued to deliver delicious coffee with care for the environment. Twenty years ago,Philips started a journey with a clear ambition in mind, offer all coffee lovers a convenient and high-quality coffee experience at home with the Senseo Coffee Machine. And theydelivered that together with partner JACOBS DOUWE EGBERTS using compostable pads and 100% sustainably sourced coffee.
Fast forward to today and our coffee machines are in more than 15 million households, and we can proudly say it continues to be a coffee machine with a low environmental impact from bean to cup.
The sale of Philips Domestic Appliances business to Hillhouse Investment is now complete… with the company looking forward to a bright new future.
Royal Philips has announced that in September it had completed the sale of the Domestic Appliances business to Hillhouse Investment, a global investment firm. Philips originally announced the planned sale on March 25, 2021.
The transaction values Domestic Appliances, a global leader with €2.2bn sales in 2020 in kitchen, coffee, garment care and home care appliances, at an enterprise value of approximately €3.7bn. The total deal value amounts to approximately €4.4 billion resulting from an additional 15-year brand license agreement with annual payments that represent an estimated net present value of approximately €0.7bn.
“I am pleased that in line with our plans we have completed this transaction and concluded our major divestments,” said Frans van Houten, CEO of Royal Philips. “I am confident that the Domestic Appliances business will be able to expand on its market leadership with the support of Hillhouse Investment. In the past 12 months, Philips has further strengthened its portfolio with the launch of new products and solutions, as well as the acquisitions of Intact Vascular in image guided therapy, and BioTelemetry and Capsule Technologies in connected care. We are executing on our strategy to deliver integrated solutions that support professional healthcare customers achieve the Quadruple Aim and consumers with their health.
We are in a great position to continue bringing meaningful innovations to the consumer’s home in areas such as kitchen, coffee, garment care and home care appliances,” said Henk de Jong, CEO of Domestic Appliances. “We look forward to embark on this new partnership with Hillhouse Investment, building on our longstanding consumer, customer and partner relationships, as well as our market leading positions across our portfolio and the brand license partnership with Philips.”
Following the sale of Domestic Appliances, Philips’ €3.2bn Personal Health businesses will continue to shape its important role in the company’s integrated health continuum approach through products and solutions that support healthy living and prevention of diseases. Philips is a global leader in oral healthcare, personal care and mother & child care, areas that are essential building blocks of consumer health.
Philips is to sell its domestic appliances business to Hillhouse Capital with a 15 year licensing deal in the last of its re-structuring deals.
The domestic appliance business had sales of EUR2.2bn in 2020 in kitchen, coffee, garment care and home care devices as part of total sales of EUR19.2bn for Philips. The license agreement has annual payments that represent an estimated net present value of approximately EUR 700m, resulting in a total deal value of approximately EUR4.4bn. The deal is expected to be completed in the third quarter of 2021 subject to customary closing conditions. Philips and Domestic Appliances will enter into an exclusive brand license agreement to use the Philips brand and certain of Philips’ other domestic appliances brands for manufacturing, sales, and marketing globally for a period of 15 years, which is renewable subject to the terms of the brand license agreement. This will see the Domestic Appliances business presented as a discontinued operation in Philips’ financial statements from the first quarter of 2021, minimising the financial impact of losses from the Covid-19 pandemic. “I am pleased that in Hillhouse Capital we have found a new home for the Domestic Appliances business to further expand on its market leadership, strong brand and pipeline of new innovations,” said Frans van Houten, CEO of Royal Philips. The deal, which started in January 2020, continues the focus for Philips as a medical technology company, after its recent acquisition of medical data management companies, although it has kept the personal health business. “This transaction concludes our major divestments,” said van Houten. “Going forward, our focus is on extending our leadership in health technology and continuing our transformation into a solutions company supporting professional healthcare customers achieve the Quadruple Aim and consumers with their personal health.” This includes the EUR 3.2bn Personal Health businesses as part of the integrated health continuum approach through consumer-driven product and solutions innovation in areas such as oral healthcare, personal care, and mother & child care, says van Houten. “We look forward to joining forces with Philips to expand into new markets and capture more growth opportunities globally,” said Lei Zhang, Founder and CEO of Hillhouse Capital. “We are aligned with Philips’ mission to bring high quality products to support healthy and fulfilling lifestyles for consumers across the globe.” The domestic appliance business has 7000 staff and operates in 100 countries. The headquarters will remain in the Netherlands, says Zhang. “I am convinced that together with Hillhouse Capital’s deep e-commerce, supply chain and digital expertise, we will be in a great position to continue bringing meaningful innovations to the consumer’s homes,” said Henk de Jong, CEO of Philips Domestic Appliances. “Based on our market leading product portfolio, broad customer and consumer base and R&D capabilities, we are keen to keep supporting families and individuals to lead healthier and happier lives. We look forward to working with Hillhouse to capture additional growth opportunities.” Hillhouse is backed by US universities including Yale, Stanford and Princeton and has strong links in China with investments in Tencent and JD.com, but has also invested in an organic baby food and snack manufacturer called Little Freddie, a Californian craft beer maker and a pet food brand. https://www.philips.com