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EVER Bilena Cosmetics Inc. plans to sell shares to
the public in five years time, its chief executive officer said.
“If growth continues, IPO
[initial public offering] may be in five years. The IPO is more to
professionalize our business and for the company’s expansion
plan,” Dioceldo S. Sy told reporters Tuesday night on the
sidelines of the Ernst & Young Entrepreneur of the Year awards.
He said the company is planning
to expand overseas, focusing on Indonesia, Malaysia and Thailand
this year.
“The Asean trade for cosmetics
is growing. We are cheapest in the region,” he added, referring to
the 10-member Association of Southeast Asian Nations.
Ever Bilena offers 1,000
varieties of cosmetic, body-care products and beauty-care
accessories in department stores and major retail outlets
nationwide. Its product line includes eye shadow, compact powder,
extra shine lip-gloss, various kinds of nail polish, silkening body
lotion and spray, among others.
It also markets Careline, a nail
polish and cosmetic brand for teenagers and young adults, and
Freestyle hair gel.
Sy said that 90 percent of the
company’s products is manufactured in China, citing “the labor
and power rates in China compared to the Philippines.”
The company expects sales revenue
to increase 10 percent every year.
In 2006, Ever Bilena posted total
sales of P500 million. “This year, we hope to post P600
million,” the executive said.
Ever Bilena has 920 employees and
was established in late 1983 with its line of product—”Ever
Bilena” nail polish.
--Darwin G Amojelar
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