Freeman Cebu Business

Beauty business on the rise in Philippines

Carlo S. Lorenciana - The Freeman

CEBU, Philippines - The beauty business seems to be booming thanks to the increasing notion that personal care has now become a necessity rather than a luxury.

Eleanor Velasco, owner and founder of Cebu-based facial center Skin 911, said there are a number of Cebuanos who allocate a portion of their income for skin care services, noting that people think them as part of their budget and lifestyle already.

 "But the Cebuano people would really find affordable prices," Velasco shared her observation in an interview.

 The Cebuana entrepreneur said the young market is significantly growing and that the number of men availing of skin care services is also rising.

 "It's really now part of lifestyle," she said.

 According to market research firm Euromonitor International, the Philippines' skin care industry increased in current value by 4 percent in 2014 due to improvements in value growth in both body care and facial care.

 Euromonitor also noted that instead of availing pricey facial treatments, there are also people who consume skin care products as a more practical option.

 Velasco said the beauty and wellness sector industry is getting competitive because of the rising number of derma and skin clinics in the market. Particularly, she said Cebu saw this trend in recent years.

 Maintaining good services, she added, is key to survive in the industry and maintain market share.

 Meanwhile, the lady entrepreneur said her company is planning to open up to 5 branches this year in Iloilo, Dumaguete, Bacolod, Mactan and Talisay City. It currently has six shops in Cebu, one is company-owned and five are franchised.

 She said every branch roughly needs P2.5 million to build. (FREEMAN)

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