Hanabishi eyes sales growth despite cautious outlook

MANILA, Philippines — Hanabishi Appliances has a cautiously optimistic outlook on sales growth this year as high fuel prices and foreign exchange volatility weigh on dealers’ expansion plans.

“We’re cautious, but we’re optimistic about the Philippine market,” Hanabishi president Jasper Ong told reporters during the brand’s 40th anniversary celebration.

He said the home appliances brand has posted growth every year.

“We’re not into retail. We supply to other dealers and those dealers (have) continuous expansion. So they’re reaching farther provinces, inner cities,” he said, noting the expansion allows Hanabishi’s products to enter these areas.

However, he said many dealers are adopting a cautious stance because of challenges affecting businesses such as high fuel prices and currency fluctuations.

“All the dealers I talked to are very cautious this year,” he said.

He said Hanabishi is also facing competition from Chinese home appliance products being sold online.

“Initially, we are affected. But we’re confident they’ll (customers) come back to us,” Ong said, citing Hanabishi products’ good quality.

He said consumers place importance on safety when using home appliances.

Hanabishi’s products, which are manufactured in China, go through stringent government product safety certifications before being sold in the market.

“When we import it, there’s a testing lab here to test all your appliances for the PS (Philippine Standard) and ICC (Import Commodity Clearance). They’re stringent. If you don’t pass it, you have to bring back everything,” Ong said.

Products bearing the PS and ICC marks issued by the Department of Trade and Industry conform to relevant Philippine National Standards for quality and safety.

Candice Ong-Ang, vice president for operations at Hanabishi, said the brand also provides after-sales service.

“That’s important because others may be affordable when you buy them, but they are also disposable. You don’t want disposable appliances,” she said.

Ong said that a large chunk of Hanabishi’s products are still sold through brick-and-mortar stores.

At present, Hanabishi’s products are sold in over 2,500 outlets nationwide.

Established in 1986, the Hanabishi brand is owned and marketed by Fortune Buddies Corp.

The brand is the market leader in small appliances, including electric fans, flat irons and rice cookers.

It also has big appliances, including television sets, chest freezers and air conditioners.