SPLASH Corp. targets to enter new product categories this year, banking on its market position in other products to help boost performance.
In a statement issued Monday, Splash said it has been able to release brands that have become market leaders in the skin whitening and exfoliant categories, as well as specialized hair solutions. The company looks to leverage on the insights it garnered from these products as it enters new markets in the future.
“We have all the parts in place for an aggressive entry into new product categories,” Splash Chief Executive Officer Roland B. Hortaleza said in a statement.
The company recently introduced a new product, Hygienix Germicidal soap, which marked its foray into the mainstream soap market. Splash said it conducted aggressive marketing and distribution activities to position Hygienix as a player in the anti-bacterial soap category.
“We will bring into these new markets the same ingredients of our success: our deep knowledge of the Filipino consumer that enables us to anticipate market needs, our speed at developing, manufacturing and distributing products that meet this market need, and well-thought out marketing strategies rooted in our deep affinity with Filipino consumers,” Mr. Hortaleza said.
Other than marketing initiatives, Splash said it also pursues efficiencies and scale in manufacturing. This has enabled the company to produce soaps and lotions at the lowest cost.
The company has further strengthened its distribution efforts through subsidiary Prime Global Distribution Corp. This has allowed the company to boost its presence in national accounts such as supermarkets, drugstores, and convenience stores, and traditional accounts.
Incorporated in 1991, Splash develops, manufactures, bottles, packs, and markets cosmetics and other beauty products and pharmaceutical products in the country. The company is currently present in North America, the Middle East, Southeast Asia, and Africa. — Arra B. Francia