Splash allots P200 million for new products

MANILA, Philippines - Splash Corp., the country’s largest Filipino-owned beauty and personal care company, has set aside P200 million this year for the launch and marketing of new products as part of efforts to maintain its competitive position in the industry.

In particular, Splash is aggressively promoting the SkinWhite 3-in-1 Power whitening face cream powder,which has a unique formula that moisturizes the skin as a cream and transforms itself into a powder.

“This is a pioneering and revolutionary product as it is the first of its kind in the local market. Splash quickly gained an estimated six percent market share points within a few months of its introduction,” said Splash chairman and chief executive Rolando Hortaleza.

The SkinWhite brand already dominates the whitening segment for the “body” category with SkinWhite lotion capturing a 44 percent share and SkinWhite soap with 48 percent market share.

“Overall, Splash now has a stronger portfolio of products to address the different segments of the whitening category and a bigger consumer base with the addition of an estimated half a million more consumers through the introduction of the SkinWhite Power whitening 3-in-1 face cream powder,” Hortaleza said.

Another strategic initiative that Splash is focusing on is the creation of a new business unit that will engage in direct selling.

The move will fortify the company’s hold in the Philippine personal care industry and enable the company to compete in a much larger arena and fully serve a larger consumer base.

Splash’s main objective is to gain substantial share of the P18.2 billion direct selling market (personal care and wellness direct selling component) thereby creating more value to the company’s shareholders, Hortaleza said.

The company’s investments, not only in financial but also in its manpower and other resources, is seen to impact on Splash’s overall yearend financial position. Over the medium and long term, Splash is foreseen to be more competitive with a larger consumer base that can be used a a jump-off point to introduce more innovative products and ultimately, should be seen in the company’s financial strength.

Splash’s brands have penetrated the international markets not only in Asia but also in the Middle East and North America. – Zinnia Dela Peña