CEBU, Philippines - Foam and furniture maker, Mandaue Foam is geared towards expanding its market reach in the Philippines, amid the entry of similar yet cheaper products especially coming from China and Japan.
In a press conference during the company’s 40th anniversary celebration, Mandaue Foam’s managing director Ryan Uy said that after the brand successfully penetrated the major markets across the country, specifically in Metro Manila, it is now going to make presence in areas like Samar, Leyte and South Luzon.
In the long term though, Mandaue Foam is planning to make overseas presence in emerging markets like Vietnam.
At present, Mandaue Foam is cornering 20 percent of the country’s foam and furniture markets, despite the flooding supply of foam and furniture products from China.
According to Uy, cheaper and imported furniture and foam products have not threatened the brand’s growth in the domestic market, although he admitted that imported products’ presence have slightly affected their market share.
Aside from opening more branches in other areas in the Philippines, Mandaue Foam is also investing on expanding its plants, both here in Cebu and in Metro Manila.
“We are developing new kitchen lines. What we don’t have is kitchen furniture,” Uy said.
Aside from strengthening its brand-recall via different media channels, like television, the company is also embarking into strong online marketing portal and retailing portal through its recent partnership with ensogo.com.
He said the country’s home furnishing market is still strong, as Filipinos are starting to appreciate the quality and trusted brand, versus price.
Currently, Mandaue Foam has six plants nationwide, with 18 showrooms and retail outlets.
In 2010, the company generated total sales revenue of average P200 million to P300 million per branch. An indication that the Philippines is provides profitable environment for home furnishing business, despite the economic fragility.
Mandaue Foam is also partnering with furniture export companies, as it continuously provides upholstery needs for exporters serving the American and European markets.
Started in 1971, by Rosita T. Uy as foam manufacturer in Cebu, Mandaue Foam has rapidly grown over the past 40 years because of its commitment to provide its customers with quality and value for money products.
Today, the company is one of the country’s top 1000 corporations. Its trademark products include its signature Flex Foam and hotel quality Gala Bed Mattress.
The company is also upholding its commitment to augment its product lines and innovate by offering customized furniture, among others. — (FREEMAN)