Gaisano family vows to unite

The premiere retailing clan in Southern Philippines - the Gaisano's - vowed to re-unite to honor the family's tradition in entrepreneurship following the acceptance of Don Stephen Sy Gaisano of the University of San Carlos (USC) Honorary Doctorate Degree-Honoris Causa in Education and Entrepreneurship.

USC is set to officially confer the degree to Don Stephen, the lone survivor of the famous second generation Gaisano Brothers, this November 8.

"This is the time that family will be united once again, and re-commit to honor the Gaisano legacy in entrepreneurship," said Stephen's son, Alex.

The Gaisano's may compete with each other mostly in retail business in Southern Philippines, Alex said, but he added that his generation (which is the 3rd generation) would make desperate effort to solidify the family.

Stephen, 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.

At 90 years old, Stephen, is the second Cebuano businessman, who will be conferred this honor that is only given to an alumnus who achieved extravagant success in business and leadership, and contribute to the country's economic development.

Last year, USC conferred to business taipan John L. Gokongwei Jr., an Honorary Degree of Doctor of Science in Business and Enterprise Development.

Joseph Gaisano, the eldest of the third generation, said that USC's conferment of this honorary degree to Stephen would signal the family's need to re-commit the value their forefathers have instilled especially in strong family ties, and entrepreneurship.

Stephen Sr. spent two years of his college education in the old Colegio de San Carlos, aside from that, most of the second generation Gaisanos and also the succeeding generations have gone to USC for their education.

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

Stephen is the brainchild behind the Doña Modesta Singson Gaisano Foundation, whose main and important undertaking is the granting of scholarship to hundreds of poor, but deserving Cebuano students.

This low-key business magnate continues to share his blessings even in his twilight years and have managed to keep his involvement very quiet as he prefers to do it that way.

Alex said he even had difficulties to convince his father to accept the honorary degree that USC will confer as he initially tried to turn it down.

The Gaisano Empire was built on the foundation of everybody needing to buy something almost all the time. Now, more than five decades since the family started the business, there are at least 10 retail establishments in Cebu and around 10 others in Mindanao and also in Luzon 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.

In 1979, the company was turned over to the third 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 third generation of Gaisanos, the family business which started as pushcart selling all kinds of consumer goods, is bonded by one company established by Stephen - Gaisano Bros. Merchandising, Inc.

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

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

According to Alex, his father Stephen had tried very hard to strengthen the family's bond, and he wanted to start re-enforcing this effort, by calling all the Gaisanos from all over the country to celebrate and honor the another victory of their father Stephen.