Wilcon CEO makes Forbes Asia ‘Emergent 25’ list

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William Belo with Lorraine Belo-Cincochan
Wilcon Founder and Chairman Emeritus William Belo with CEO, President, and Director Lorraine Belo-Cincochan. -- PHILSTAR.COM FILE PHOTO

THE head of a major buiding-supplies company has been named to the Forbes Asia list of 25 up-and-coming influential women in business.

Forbes Asia published its first list of “Emergent 25” specific to the region, citing criteria that include “the money they generate, the influence they wield, and the ideas and trends they are advancing.”

Forbes Asia said Lorraine Belo-Cincochan, CEO, president, and director of Wilcon Depot, Inc. demonstrated leadership of the family business by expanding rapidly.

“Since this leading home-improvement and building-products retailer went public in March 2017, Belo-Cincochan has led the family business on its most aggressive expansion yet. She has also computerized Wilcon’s manual systems and guides its stores from traditional to big-box format, as well as making it easier for customers to pay by credit card,” Forbes Asia said.

Wilcon operates depot stores and home essentials stores. The company currently operates 36 stores nationwide, of which 30 are depots. Two stores are mall-based while four are stand-alone home essentials stores.

The company has a market capitalization of P43.95 billion.

Wilcon Depot’s net profit rose 56% in 2017 to P1.38 billion, amid same-store sales growth of 6% and the opening of five depots outside Metro Manila.

The company plans to open 24 more depots within the next four years and is scouting for “promising sites” for its home essentials stores.

Ms. Belo-Cincochan started as a trainee in 2000 to the president of Wilcon Builders Supply, Inc. She headed the information technology (IT) department in 2002, and became depot manager-trainee from 2003-2005. In 2005, she was appointed executive vice-president for operations, and was chief financial officer from 2006-2016.

Other entrepreneurs on the list include Joanna Kua, Group CEO and Executive Director of conglomerate KSK Group and Managing Director of KSK Land, from Malaysia; Miki Ito, president of aerospace company Astroscale, from Japan; and Kim So-hee, president of makeup and fashion firm Nanda, from South Korea. — Patrizia Paola C. Marcelo