A FILIPINO-owned firm specializing in beauty products and services will invest at least P9 million for three new outlets in the middle of the year.
“This year we are targeting to open three to four outlets in the country. We currently have a total of 35 clinics after 11 years of operations. Most or 24 of our outlets are company-owned while the rest are franchise outlets. We opened three outlets last year and would still want to maintain the same level of aggressiveness in the Filipino market,” said Drew Donovan-Mendoza, Flawless business manager during a press briefing last week.
For every opening, the company pours in around P3 million to P4 million in investment, Mendoza said.
Rubby Sy, Flawless founder and chief executive officer, said they were seeing an active “vibe” in the Cebu market, which made them decide to expand in the Cebu market.
Mendoza agreed. He said that he’s been visiting Cebu for many years and had seen the changes and fast development of the market.
Mendoza said for they were talking with major malls in Cebu for their expansions which included SM Consolacion, SM Seaside City and Ayala Center Cebu.
Mendoza said they are confident of the investments that they will be pouring in for the expansions because Filipinos now spend more to pamper themselves which includes getting a facial service from known brands like Flawless.
According to the National Statistical Coordination Board (NSCB), the bulk of the 6.6 percent gross domestic product growth of the Philippines last year came from the Filipinos spending on beauty and travel expenses.
NSCB 2012 data showed that health and beauty spending which accounted for 15.2 percent of the 6.6 percent GDP increase./Reporter Aileen Garcia-Yap