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SPLASH Corp. announced on Tuesday that it signed an accord with a
Hong Kong-based firm for the distribution of its products in the
Chinese territory and in Macau.
The personal care products maker disclosed to
the Philippine Stock Exchange that it signed a memorandum of
understanding with R.S. Company (H.K.) Ltd. to distribute Splash
products in the island territories where a big number of Filipinos
are based.
In addition to Filipinos, Splash is also
targeting Malaysian, Thai and Indonesian workers in Hong Kong,
providing the company the avenue to “push for Splash products in a
multicultural environment.”
According to the Filipino firm, R. S. Company
started in 1990 as a small retail shop in Worldwide building in
Central, which bought Philippine-made products from traders and “viajeros.”
The distributor now has grown into a chain with 13 branches in Hong
Kong Island, Kowloon, the New Territories and three wholesalers in
Macau. R.S. Company plans to open five more stores in the next two
to three years.
Besides R.S. Company, Splash is also engaged
with Ranbros Marketing, a retailer of Filipino food, beverage and
personal care products in Hong Kong.
Earlier, Splash said it has started distributing
its products in the United States to reach Filipinos, Hispanics and
Asians in the biggest North American market with its agreement with
Mandalay Trading Corp. The firm also plans to expand its North
American market by introducing at least eight new products next year
in Canada, initially tapping the large Filipino population in the
region.
In the Southeast Asian region, Splash is selling
its products through Rejoice Moments Sdn. Bhd. in Malaysia, focusing
on exfoliant products, Extraderm White & Smooth and Maxi Peel
New Generation Exfoliant.
The company earlier said it would be hitting its
2007 revenue and profit targets on the back of new products and good
sales and marketing strategies.
Splash said it expected its end-December sales
to have reached P344.5 million, raising its year-end gross sales by
17 percent to P3.59 billion from a year ago. Profits would be higher
by 37 percent to P282 million over 2006.
-- Likha C. Cueavs-Miel
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