The Asian financial crisis of 1998 presented an unlikely backdrop for launching a new business venture. Yet for Vijay Eswaran and Joseph Bismark, this period of economic uncertainty sparked the creation of what would become a global conglomerate. Their decision to establish QI Group during this tumultuous time demonstrated prescient market understanding and unwavering entrepreneurial spirit.
Twenty-six years later, the Hong Kong-registered company is a testament to their vision, employing more than 2,000 individuals across 30 countries. This multinational workforce represents nearly 50 nationalities, creating a vibrant tapestry of cultural perspectives that drives innovation across the organization’s diverse business interests.
The founders’ contrasting backgrounds created a unique leadership dynamic. Following studies at universities in Britain and the United States, Eswaran had a successful corporate career in North America, working with premier technology and consulting organizations. At the same time, Bismark contributed insights shaped by his early education in an ashram, including expertise in disciplines ranging from martial arts to Vedic studies.
What is the history of QI Group?
QI Group’s history is one of strategic expansion and calculated diversification. Its current business interests span a carefully curated range of sectors, from educational institutions and high-end luxury products to travel destinations and retail ventures. This diverse portfolio represents a significant expansion from the company’s origins, with its foundational direct selling operation now forming part of a broader wellness and lifestyle division that connects with consumers worldwide through thousands of distributors.
From its initial focus on direct selling and e-commerce, the company methodically broadened its scope through QI Capital, its investment arm. This systematic growth began in the Far East, establishing strong operational foundations in Hong Kong and Malaysia before extending into South Asia, the Middle East, Europe, Central Asia, and sub-Saharan Africa.
The company’s commitment to education materialized in Quest International University, established in 2011 in Ipoh, Malaysia. QIU has flourished, welcoming approximately 7,000 students from about 39 countries. In 2023, this educational venture reached a significant milestone with a $21.48 million Sukuk Ijarah program, marking QI Group’s first entry into Malaysia’s capital markets.
The luxury sector provided another avenue for growth. The acquisition of Cimier, the Swiss watch brand celebrating its 25th anniversary in 2024, established QI Group’s presence in the high-end timepiece market. This move complemented the company’s existing luxury portfolio, which includes the Bernhard H. Mayer Collection of exclusive watches and jewelry.
Environmental stewardship, sustainable operations, innovation and inclusive practices
Environmental responsibility shapes the company’s operational decisions across sectors. The hospitality division exemplifies this commitment through properties like Prana Resort Nandana in Koh Samui, Thailand. The resort’s gold rating from Thailand’s Green Hotel Standard recognizes its comprehensive sustainability initiatives, from paperless operations to locally sourced ingredients.
The company’s reforestation efforts through its Green Legacy programme demonstrate its environmental impact beyond hospitality. Through partnerships with various environmental organizations, QI Group’s subsidiaries have helped plant more than 25,000 trees in 10 countries.
Communities worldwide depend on healthy forest ecosystems for their livelihoods, from small-scale farming to traditional medicine. Well-planned reforestation efforts do more than restore degraded landscapes — they build economic resilience by introducing sustainable agricultural methods and environmental practices that protect these crucial resources for future generations.
The corporation’s approach to human capital reflects modern workplace dynamics. With a nearly balanced gender distribution — 53% male and 47% female employees — QI Group demonstrates its commitment to workplace equality. This diversity extends to leadership roles, where women hold 44% of positions.
Social media executive Dina Kaliyeva represents the company’s global talent pool. “I never knew that I would be here, 5,899 kilometers from home, Kazakhstan, building a social media family for the QI Group with over 20,000 followers from my region now and bringing so much meaning to the lives of individuals, families, and groups around the world,” she stated.
Kaliyeva continued, “From feeding the hungry, creating a better learning environment for students, helping rural communities sustain their lives, to creating opportunities for the differently abled and leaving a better environment for the future generation, QI Group truly cares. I am also proud to say that the content I create can inspire, empower, and turn followers into community leaders who are able to make a difference in their very own way as they journey with us.”
Social impact through RYTHM Foundation
“When we started the company, one common view among the partners was to make sure that we incorporated within it a way to pay back to the community – worldwide, as well as where we live, because we are very much a worldwide organization,” said Eswaran. That resulted in the establishment of the company’s philanthropic arm, RYTHM Foundation.
Eswaran explained, “RYTHM comes from a story about Gandhi. Gandhi was a point where the founders of the company met because we were a pretty international bunch of people and we were looking for somebody or something that represented our common beliefs, someone who belonged to the planet rather than a citizen of one country. It was very natural for us to look at his values and recognize that our values were exemplified by his life.”
The foundation has executed more than 200 projects and campaigns across 20 countries, while employees have dedicated 114,000 hours to community service. Since 2005, through targeted initiatives that enhance living conditions and create opportunities, RYTHM Foundation has worked to build a more equitable future, with special emphasis on children’s welfare and development. The foundation serves as a catalyst for positive change, integrating social responsibility into every aspect of operations from workplace practices to community engagement. This comprehensive approach aims to break cycles of hardship by providing tools and resources for sustainable improvement in people’s lives.
The leadership of Eswaran and Bismark continues to guide QI Group’s expansion while maintaining its founding principles. Their approach, which involves consensus management and participative governance, fosters an environment where diverse perspectives contribute to decision-making.
DISCLAIMER – “Views Expressed Disclaimer: Views and opinions expressed are those of the authors and do not reflect the official position of any other author, agency, organization, employer or company, including NEO CYMED PUBLISHING LIMITED, which is the publishing company performing under the name Cyprus-Mail…more
Click here to change your cookie preferences