Cristina Lo: Surviving the roller coaster ride of the furniture sector

CEBU, Philippines — Over the years, the furniture business in Cebu has changed so much -- it has been through a lot of economic challenges.

About over two decades ago, Cebu furniture exporters were experiencing a brisk business as global economic environment back then was favorable to the industry.

At that time, Cebu City-based furniture maker Coast Pacific Manufacturing Corp. was one of the companies that saw how the furniture manufacturing industry boomed in the 90s.

However, the business has since changed when the financial crises in 1997 and 2008 had crippled global demand.

And the industry has struggled to regain its growth path.

But despite all the challenges that Cebu furniture manufacturers have faced over the years, several companies stood the test of time.

Cristina Lo, one of the owners of family-run Coast Pacific, said that while the furniture export business in Cebu has slowly become a sunset industry, new opportunities have also emerged.

“A few of us are already left in the business,” the businesswoman shared in an interview with The FREEMAN.

While business prospects overseas had not been so favorable to furniture exporters in the past years, they had started to look back home for opportunities.

Cristina said the economic boom in the Philippines has helped furniture makers a lot in sustaining their business.

“The Philippines has seen an economic boom and it’s helping sustain the demand for furniture products,” she said.

“The industry has penetrated the Philippine market because the demand is there,” said Cristina, who sits as the vice president of company with her husband, Philip, as president.

The Los’ furniture company, which specializes in hand-crafted indoor and outdoor furniture, started in 1993, concentrating on classical rattan and wicker furniture.

Looking back, Cristina recalled that business was before was way different than now.

She cited the US and Europe as the strongest markets for Cebu before but over the years, the global market has slowly become cautious, thus local producers including those in Cebu.

“Now it’s really a totally different market. The market is already cautious not like before when the demand was consistent,” she said.

From a very small company, Coast Pacific has grown its market serving both local and international clients including buyers from Asian countries, US, Europe and Middle East.

In the Philippines, the company is also behind the furniture designs of several hospitality firms in Palawan, Cebu, Boracay, Bohol, among others.

While Cebu’s furniture industry is trying to catch up with the changing economic times, Cristina also lamented that it’s also struggling to compete with its Asian neighbors.

She pointed out that Cebu has been left behind versus other countries in Asia in terms of pricing, labor and competition. Plus the cheaper products from China.

But looking at the brighter side of things, Cristina expressed high hopes on business prospects, saying its people remain its competitive edge.

She shared that the driving factors that have helped the company survived through the economic challenges over the years include flexibility, adaptability and keeping abreast with current situations.

“Knowing your strength and weakness is very important for you to be able to react quicker when opportunity comes,” she said.

“As a business person it is very important to have integrity and passion to whatever you undertake. This speaks on how you value your work, your employees and your clients. If you have this then it will speak for your company,” Cristina said.

Success will follow and with success then we must also be able to give back and share this to others so we can attain and experience a true fulfillment, she added.

When asked how she sees Cebu’s furniture business shaping up in the future, Cristina said “Very positive. The domestic market remains very strong and companies who were able to penetrate this market are doing very well.”

As for the international or export scene, the Philippines is looked up to as a very special niche market. As a niche market we are very competitive and we are always sought after for designs and ideas. This is the reason why our creative industry now is initiating a big project called the CDW or the Cebu Design week.

This will try to get the attention of the local and international creative sectors and designers not only furniture but all fields of creative designs. This will be coming up with a big bang by September 8-15,2019.

Outside her corporate world, Cristina also sits as the president of Sacred Heart Parish Ladies Association, a religious civic women group and also current treasurer of the Cebu Furniture Industries Foundation. (FREEMAN)