The EVP is a pioneering program in equity financing to support the growth and development of small and medium enterprises (SMEs) into globally competitive businesses.
SB Corp. chairperson and chief executive officer Zorayda Amelia C. Alonzo revealed the P1.5-million investment package in Beauty Behemoth Inc. (BBI), a distribution and skin care service enterprise operating stand-alone botiques that sells VMV hypoallergenic products and offer related skin care services.
In 2004, SB Corp. made its first investment in telecommunications products and engineering firm servicing clients such as Smart Communications, Digitel and Globe.
VMV is a medium-sized Filipino-owned enterprise that has been in the business of manufacturing cosmetics and skin care products for more than 25 years now. Founded in 1979 by Dr. Vermen Verallo, VMV offers the first and only validated hypoallergenic line of skin care products and cosmetics in Asia.
VMV ranks in the top five of all retail cosmetic and skincare brands sold through department store counters, along with more established brands such as Shiseido, Elizabeth Arden, Revlon, Maybelline, L‚Oreal and Max Factor.
Among the major considerations for the investment is the relatively low upfront investment, the opportunity to leverage on the existing brand reputation and customer goodwill already generated by VMV as well as the potential to go into other distribution channels and expand the retail concept outside the Philippines.
In the last quarter of 2005, the BBI opened its first store at the Rockwell Mall in Makati.
Negotiations are also underway for other store locations.
The investment in BBI was made with Iron Capital Management Corp. SB Corp. controls up to 22 percent of the BBI while Iron Cap owns about 30 percent.