Thakral’s legacy of enterprise, resilience, and family continues to shape its future.

From a modest textile store in Bangkok in 1905 to a diversified Singapore-based conglomerate, the Thakral journey mirrors the spirit of resilience, enterprise, and long-term vision – values that also define Singapore as it marks SG60.

Thakral’s journey stands as a powerful testament to how heritage can influence and enhance modern success.

With over a century of value-driven business behind it, Thakral has grown alongside Singapore’s evolution as a global hub. Rooted in trust, stewardship, and an entrepreneurial legacy, the Group continues to build for the future, guided by the founding family’s enduring values.

As Singapore celebrates 60 years of independence, Thakral stands proud to be part of the nation’s ongoing story – where heritage strengthens progress, and tradition powers innovation.

HERITAGE ANCHORED IN FAMILY AND VALUES

The origins of Thakral trace back to 1905, when the Thakral family established the Punjab Store in Bangkok, marking the start of a business that would grow across generations, industries, and continents. What began as a textile enterprise laid the foundation for one of Singapore’s most enduring and respected home-grown conglomerates.

From the very beginning, the business was guided by enduring values – trust, integrity, and a commitment to long-term relationships. These principles continue to define Thakral’s culture and business philosophy to this day.

Much of the Thakral family’s modern evolution was shaped by Mr Kartar Singh Thakral (“Mr Kartar Singh”), taking over from its founding patriarch Sohan Singh Thakral. His visionary leadership steered the Group through key transformations and global expansions.

His father, the founding patriarch, had established offices in Osaka to facilitate textile sourcing and Singapore in 1936, and 1952 respectively. Solidifying the Group’s regional presence, Mr Kartar Singh further extended starting business with Russia in 1961 and China in the following year. Setting up of overseas offices started with Hong Kong in 1973, investing in UK, Eastern Europe, Indo-China in the early 80s and opening of its first representative office in Guangzhou, China in 1986, as the Group continued to expand into Asia’s dynamic growth markets. Further investments were made into India in the early 1990s.

In 1995 Thakral Corporation Ltd (the “Company” and together with its subsidiaries, the “Group” or “Thakral Group) achieved a landmark listing on the Singapore Exchange. Mr Kartar Singh was appointed Chairman of the Board of the listed entity. Under his continued guidance, the Group diversified its investment focus, laying the groundwork for its strategic entry into the real estate sector and expanding into the Australian and Japanese markets. Over the years, the Group transformed from distribution-led enterprise to one anchored in investment-led growth across key markets including Australia, Japan, India, and Singapore. Under his leadership, the Group has sharpened its focus on high-growth sectors such as lifestyle, beauty and premium retailing, alongside strategic investments in real estate and new economy ventures. This evolution reflects the Group’s commitment to staying agile and relevant, while continuing to build on the legacy of values that have guided it for over a century.

MODERN IMPACT WITH TRADITIONAL ROOTS

Today, the Thakral Group stands at the intersection of tradition and modern ambition. The Group’s investments – spanning Australia, Japan, Greater China, South Asia, and beyond - reflect how future-focused initiatives can remain rooted in alignment with traditional core values of stewardship, responsibility, and community-building.

GemLife – Currumbin Waters, Queensland

In Australia, the Group and its partner started GemLife, a standout example of this philosophy in action. Designed for the over-50s community, GemLife develops vibrant, purpose-built lifestyle resorts that redefine traditional retirement living. Since its inception, it has quickly earned a reputation as one of Australia’s most respected and fastest-growing operators in the sector. GemLife Communities Group raised A$750 million in a strongly supported initial public offering at a post-money valuation of A$1.58 billion, debuting on the Australian Securities Exchange on 3 July 2025 under the ticker symbol GLF – the largest IPO in Australia this year. This achievement unlocks significant value for shareholders and positions it for the next phase of growth.

Another major milestone was recently reached with the approval of Australia’s first vertical land lease community at Currumbin Waters, Queensland. This pioneering A$450 million development will feature 205 apartments and a state-of-the-art luxury country club, making modern, active living more accessible in urban centres and reinforcing GemLife’s innovative approach in Australia’s over-50s lifestyle sector.

In Japan, the Group has pursued a similar thought approach, focusing on stable, long-term investments. Since entering the market in 2014, the Group has built a stable commercial property portfolio in Osaka, Japan’s second-largest city. Comprising six landmark office buildings and a business hotel, the portfolio continues to deliver stable returns and long-term value creation.

21 Acres Land for Mixed Use Development in Gurugram

Building on this foundation of strategic, place-driven investment, India represents the Group’s next major chapter. In Gurugram, adjacent to Delhi, the Group is developing a 21-acre site featuring world-class healthcare infrastructure, premium housing, and mixed-use spaces. With experienced local partners and a clear strategic vision, the project addresses India’s rising demand for quality healthcare and real estate – marking a deliberate and impactful entry into one of Asia’s most dynamic markets.

In parallel, the Group is making meaningful strides into technology-enabled business. Across South Asia, its partnership with DJI, the global leader in drone technology, has opened up new possibilities in enterprise and agriculture solutions and applications. Beyond distribution, the Group has invested in Bharat Skytech, which sources drone components and batteries, and Skylark Drones, which provides enterprise drone applications. Together, these ventures form part of a fast-growing ecosystem and position the Group at the forefront of drone innovation and productivity in the region.

Meanwhile, the beauty and premium retailing business continues to thrive across Greater China and South Asia. Representing globally renowned fragrance brands such as Maison Margiela and Miu Miu, the Group curates immersive brand experiences through its growing network of retail flagship stores, multibrand specialty retailers, and e-commerce platforms. In further deepening its footprint in luxury fragrances, the Group has invested in Veronique Gabai, a niche global fragrance brand.

Maison Margiela Store in MIXC, Shenzhen

Expanding its premium lifestyle portfolio, the Group recently secured official distribution rights for Nespresso’s full range of products across India, a strategic step to capitalise on India’s fast-growing coffee market. It launched India’s very first Nespresso boutique in March 2025 at Select Citywalk Mall in South Delhi. Beyond retail, the Group is extending Nespresso’s premium coffee solutions to hotels, restaurants, offices, and homes across the country.

Across all its markets – whether building homes, distributing & enabling cutting-edge drone ecosystems, or managing lifestyle brands – the Group remains guided by a legacy of enterprise, resilience, and purpose. At SG60 and beyond, the Group continues to evolve – blending innovation with heritage to create lasting value and meaningful impact for generations to come.

CULTURAL CONTRIBUTION AND NATIONAL RELEVANCE

Thakral’s story is not just one of commercial achievement – it is deeply interwoven with Singapore’s social and cultural fabric, shaped in large part by Mr Kartar Singh’s values and longstanding community leadership.

A passionate advocate for education, cultural preservation, and community service, Mr Kartar Singh has held leadership roles in several key organisations, including the Singapore Sikh Education Foundation, the Singapore Indian Development Association, the Singapore Khalsa Association, and the Singapore Sikh Welfare Council. Through decades of dedicated service, he has helped preserve religious and cultural identity, while advancing Sikh education and community development in Singapore.

In addition to cultural contributions, the Group has maintained a strong philanthropic presence. In 2019, the Group made a significant donation towards supporting the building of AWWA School @ Bedok that cater to 300 children with autism. The school provides special education to children with multiple disabilities and children with autism, aged 7 to 18, to maximise the potential for independence and improve the quality of life of students with special needs. The school also emphasises providing work experience and exposure to its students to give greater support to move on to the workplace thus increasing the chances of positive post-school outcomes for students and their families.

The Group followed up with another donation to the AWWA Home and Day Activity Centre in recognition of Mr Natarajan Subramaniam’s decades of board service in 2024. The facility supports adults with multiple disabilities, offering life-enhancing programmes in a dedicated environment. These are reflections of the Group’s ongoing commitment towards social inclusion and community upliftment.

In recognition of its sustained efforts towards meaningful community contributions, the Group has been formally recognised on multiple fronts. It has received the People’s Association Community Spirit Merit Award for three consecutive years - an honour that highlights consistent engagement and tangible impact. Mr Kartar Singh himself has been honoured with the Centennial Exemplary Service Award by the Singapore Indian Chamber of Commerce and Industry (SICCI), a tribute to his lifetime of business leadership and social contribution.

His legacy has also been featured in significant national narratives. In 2015, he was featured in Not Born in Singapore, a publication celebrating the contributions of 50 individuals who helped shape the nation. He was also profiled in Singapore at 50: 50 Sikhs and Their Contributions, and appeared in Episode 6 of Suvadugal, a Tamil-language television documentary series on Vasantham highlighting pioneers from the Indian community, underlining the importance of cultural leadership in Singapore’s development.

These accolades and recognitions reflect Thakral’s enduring role as not just an economic force, but also a cultural custodian and social leader, committed to building a stronger, more inclusive Singapore.

LEGACY AND THE ROAD AHEAD

As the Group begins its next chapter, it embraces a future defined by innovation, sustainability, and opportunity. Building on over a century of experience and value-driven leadership, the Group continues to explore new frontiers while remaining committed to resilience, adaptability, and creating enduring value across generations.

Its investments… exemplify how future-focused projects can remain aligned with traditional values of stewardship and community-building.

This forward-looking strategy is exemplified through its New Economy Ventures portfolio, where the Group is actively exploring investment synergies across real estate, innovative technologies and impact investments to build on the strong relationships and networks it has cultivated over the decades.

A stand-out example is the Group’s investment in BillionBricks, a Singapore-based, award-winning net-zero housing venture that combines clean energy with large-scale affordable housing. Drawing on its core strengths in procurement and industry networks, the Group supported the development and prototyping of PowerShade – the world’s first integrated solar roofing system, designed to offer energy self-sufficiency to underserved communities.

As the Group looks to the future, succession planning is well underway. Members of the fourth generation of the Thakral family, grandchildren of Mr Kartar Singh now serve in senior roles across key markets and business units. By strategically embedding next-generation family members in pivotal roles, the Group is not only grooming its future stewards but also safeguarding the continuity of its values, vision and entrepreneurial spirit.

This intergenerational leadership ensures that Thakral remains firmly anchored in family values, while staying agile and relevant in a changing global landscape.

At the same time, the Group’s long-standing commitment towards transparency and good governance remains unwavering. The Group’s commitment to transparency and ethical business practices has been recognised through the Securities Investors Association of Singapore’s (“SIAS”) Most Transparent Company Award (Consumer Discretionary) for three years running, affirming the Group’s transparency and good governance practices.

Winner of the SIAS Investors’ Choice Awards for Most Transparent Company (Consumer Discretionary) for 3 Consecutive Years

As Singapore celebrates SG60, Thakral stands as a proud example of how a business rooted in family values, cultural stewardship, and entrepreneurial spirit can remain relevant, innovative, and impactful across time. From textiles in Bangkok to technology and real estate across Asia-Pacific, the Group continues to evolve – honouring its heritage while building a future of purpose and progress.