USC to confer honorary degree to retail czar Gaisano

Recognizing Gaisano's contribution to the development of Cebu, as well as Central Visayas' economic landscape, the University of San Carlos (USC) has announced to confer Don Stephen Gaisano Sr. with an Honorary Doctorate for Humanities-Honoris Causa.

Stephen Sr., who now heads the Gaisano retail empire in the country, is one of the five sons of the late family matriarch, Doña Modesta Singson Gaisano.

USC vice president for administration Teodoro P. Gapuz SVD broke the news to Stephen and the members of the clan during the 90th birthday celebration of Stephen Sr., Sunday night, June 26, the first time he agreed to celebrate his birthday in a grand event.

Stephen Sr., has spent two years in his college education in the old Colegio de San Carlos, aside from that, most of the second generation of Gaisanos, including the current third generation are making USC their alma mater.

In fact, two of the second generation Gaisanos, Stephens' son Alexander, and nephew Benito had been awarded as Outstanding Alumni.

Stephen Sr., is the second Cebuano businessman who got this rare conferment privilege, that is only given to alumnus who achieved extravagant success in business and leadership, and contribute to the country's economic development.

Last year, USC conferred business taipan John L. Gokongwei Jr., an Honorary Degree holder of Doctor of Science in business and Enterprise Development. The formal conferment ceremony of Stephen Sr., is tentatively set on November 4, this year.

"There are only two very special things my father is thankful for, that he is the son of his mother, and that he got a doctorate degree-an achievement that he never dreamt of," said son Stephen Jr., Stephen Sr., formed a foundation named after Doña Modesta.

A family member clan said Stephen Sr. did a lot of things to keep the memory of their mother alive such as designating a large parking space at the Gaisano Country Mall as the Doña Modesta Square.

The Gaisano empire was built on the foundation of everybody needing to buy something almost all the time.

Now, more than two decades since the family started the business, there are at least 10 retail establishments in Cebu and around 10 others in Mindanao that carry or are known by the name Gaisano.

Long before the Gaisano business name came to be, there was White Gold Department Store, established by Doña Modesta in the 1950s.

Securities and Exchange Commission (SEC) records show Doña Modesta handed over management of White Gold to her five sons in the 1970s.

In 1979, the company was turned over to the second generation. Benito son of Henry, got elected chairman, while Joseph, son of David, became president and general manager. Alexander, son of Stephen Sr., became executive vice president and assistant general manager. Jack, son of Victor, was elected vice president and secretary while John Jr., son of John, became vice president and treasurer.

Although, the Gaisano stores all over the country are run by five different companies of the Gaisano second generation, some of them compete with each other, this family business which started as pushcart selling all kinds of consumer goods, is bonded by one company established by Stephen Sr., the Gaisano Bros. Merchandising, Inc.

In his effort to build a strong empire and continue the bond started by his four brothers, Stephen's Gaisano Bros. Merchandising, Inc. served as the bulk-buying unit of the family.

There are now five different companies carrying the Gaisano name, operated by the second generation of Gaisanos.

Gaisano Bros. runs the Gaisano Main store on Colon St., the Gaisano Country Mall and the Gaisano stores in the towns of Bogo in the north and Balamban in the West. At the helm of Gaisano Bros. is Alexander, son of Stephen Sr.,

Heva Management and Development Corporation, established by Henry, runs the Gaisano South and Colon St., the Gaisano in Lapu-Lapu City, and the Gaisano Tabunok fiesta mall in Talisay City.

Vicsal Development Corporation, the company built by Victor, carries the brand Metro Gaisano, it has the largest department store chains of the Gaisano retail empire. It has an outlet in Ayala Center Cebu, the Metro on Colon St., Super Metro in Mandaue City, Danao City, and in Legaspi City in Luzon. Jack, son of Victor, is president of Vicsal while his brother Edward is vice president for operations.

White Gold, on the other hand, operates the White Gold Club in Cebu north reclamation area. Recent SEC record showed White Gold is now run by Joseph Gaisano as chairman of the board. Joseph is the eldest son of David Sr., the eldest son of Doña Modesta.

"Our KongKong [grandfather] is a living mirror, a man with unwrinkled heart, triumphant over age, a core example of value that we could pass on the next generations of Gaisanos," said grand daughter Alexis Gaisano, daughter of Alex and Janet.

Alex Gaisano gives his father Stephen Gaisano a big kiss after the University of San Carlos Administration led by Father Ted Gapos announced that he will be awarded with the degree of honorary Doctorate for Humanities, an award given to those who has excelled in business and economics, became a good leader and has done countless remarkable deeds. It was announced during his 90th birthday celebration the other night at the Mandarin Restaurant in Gaisano Country Mall which was the first time he allowed his family to give him a birthday party.