Philips Domestic Appliances will transition to a new company name, Versuni, after being purchased by global investment firm, Hillhouse Capital and becoming a standalone company in September 2021.

The new company name will be implemented worldwide throughout 2023 and supported with a new visual identity.

“Although our company name will change, our mission to turn houses into homes remains constant,” Philips Domestic Appliances country lead for Australia and New Zealand, Geoff Hannaford said in a statement shared with business partners.

“As a licensee of Royal Philips, we will continue to use the Philips consumer brand, as well as Saeco, Gaggia and Philips Walita, on our products and services. Consumers can also continue to use the products of our other brands: Preethi, L’OR Barista and Senseo.

“The new company visual identity is now visible, and we expect the name change to be implemented in all countries where we have a presence in the coming months. In this period, the articles of association of our legal entities will be updated to reflect the newly chosen name.

“We will inform you at the appropriate time if there are any changes or actions required from you when our new company name takes effect for the legal entity that acts as your business partner. The rights and obligations under contracts with any legal entity referring to Philips Domestic Appliances remain unaffected.

“We are committed to making a strong impact on the global market as a home appliances leader of the future, and our new company name will give us the opportunity to drive that impact.”