Friday, January 18, 2008 Manila-based cosmetics firm eyes bigger share of market in Cebu
A prominent cosmetics company in Metro Manila is determined to get a big share of the market in Cebu, and foresees a strong demand for face and skin care products here.
“We are very positive about Cebu. At first, we were unsure because of the price factor but the demand grew exponentially (versus) supply,” said Lerma Sta. Cruz-Mendoza, Intelligent Skin Care Inc. (ISCI) marketing manager.
ISCI is the consumer products subsidiary of the Belo Medical Group, which operates Belo Essentials, a range of whitening products for the premium mass market.
Cruz-Mendoza said the market for Belo Essentials in Cebu contributes only about three percent to the company’s total sales revenues nationwide, but the firm is working on doubling the figure once the supply volume has increased.
Visayas and Mindanao combined sales revenues account for nine percent of the firm’s total sales.
“We get out-of-stock experiences. The demand has really exceeded our target,” Cruz-Mendoza said.
Citing official records, Cruz-Mendoza said ISCI’s average monthly growth is 30 percent with whitening soaps as its volume generator.
Cruz-Mendoza revealed that the company’s short-term plan is to intensify its market efforts in the country by having a strong in-store presence.
“Based on a study, 70 percent of consumer decision is made at the point of purchase,” she said.
She said ISCI also plans to expand its product line and eventually venture into exporting. She added that the company is now in negotiations with interested dealers in the Middle East, United States and some parts of Southeast Asia.
Although Belo Essentials was introduced in the market last April 2006 yet, its product lines are easily sold out, a development that she attributed to the strong Belo brand name.
Dr. Vicki Belo, founder of the Belo Medical Group, is a well-known cosmetic dermatologist in the country with over 17 years of experience in beauty and skin care.
“When we entered the market, Belo was already a brand so we were one step ahead already,” said Cruz-Mendoza.
“I want to make the Philippines the most beautiful country in the world, one person at a time. That’s why we decided to come out with Belo Essentials — a brand that we hope will change the landscape of the skin care industry while carrying the credibility and expertise of Belo,” said Belo in a statement.
Belo Essentials products are available in 15 distributor outlets in the country. Cruz-Mendoza said the company will add five more distributors this year.
In Cebu, Belo Essentials are found at SM, Gaisano stores and Rustan’s. (MMM)
