MANILA, Philippines - Personal-care products manufacturer Splash Corporation recently honored its distributors, suppliers and business partners after reporting significant growth in year-ending net profit and revenue. Dubbed “The Power Two: Together We Can,” the event drew some 450 stakeholders from the company’s domestic, international and direct sales businesses at the Grand Ballroom of the Marriott Hotel Resorts World.
The annual event, which reflects of Splash’s innate corporate culture of engagement with what it counts as “family,” was both a celebration of the phenomenal growth it posted in 2010 and a challenge call for continued growth this year.
“Splash ended 2010 with a 15-percent growth in income in revenues and a magnificent 500-percent growth in net profits,” said Eric Domagas, Splash president. “Splash will pass any financial barometer. This would not have been possible without the cooperation and will to succeed by our distributors, suppliers and partners.”
Splash’s double-digit growth last year demonstrated the company’s resiliency after its 2009 performance was affected by the economic downturn that caused tremendous operating pressures. Cost control, new products and the unrelenting efforts of its distributors and business partners were behind 2010’s significant performance.
For his part, Splash chairman and CEO Dr. Rolando Hortaleza believes the event is one way of cascading the Splash culture of collaboration and family to its partners: “We want to engage our business partners in terms of observing the culture and the strategic leadership or management system in Splash. In fact, the scorecards we have for employees is essentially the same in principle with that of our business partners,” Hortaleza explained.
Since its founding some 26 years ago as a backyard business, Splash has grown to be the only Filipino-owned company ranked within the top 10 in the Philippine personal-care industry. It remains the undisputed leader in the three major product categories where it competes, namely skin whitening, exfoliants and hair solutions. It recently launched Hygienix, a line of anti-bacterial sanitizers that is currently making waves in the market. All these milestones the management of Splash believes would not have been possible without its business partners. “We believe credit should be given to our suppliers and partners for making Splash what it is today,” Hortaleza said.
Splash puts a premium on maintaining its leading edge in product research and development and, according to Splash’s head for procurement, Joanne De Leon, this can be achieved through Splash’s partners who are committed to world-class quality and excellence.
Splash is also upbeat on the vast opportunities offered by foreign markets in the personal-care industry. It aims to strengthen its presence in the personal-care markets in the Asia-Pacific region, and to gain a foothold in the affluent markets of Europe and North America. To date, it has established market presence in 30 countries through its distributors and local exporters. It already has sales offices in Kuala Lumpur, Malaysia and Ho Chi Minh in Vietnam.
In a message to the stakeholders, Hortaleza said, “We are at our prime. Splash is a market leader. And the market is no longer the playground of multinational personal-care brands. We excite the market with our own innovative products. At Splash, the power of two has reached its full potential.”
During the event, Hortaleza also announced Splash’s move to its new home at Bonifacio Global City by the middle of this year.