Crystalderm Skincare Corporation - Quezon City, Philippines

After years of working outside the Philippines, I finally decided that it was best to start a business of my own. Convinced that the cosmetic industry offers a lot of potentials, I set my sights in establishing a retail company for cosmetic products. In 1992, I put up a retail store to serve as franchisee of a local cosmetic manufacturer. From just 1 it grew to 8 stores in just a few years. But with the emergence of new cosmetic players and mushrooming of backyard manufacturers, market became volatile and competition very stiff. Sadly, my franchiser was not up to the challenge. Owing to the franchiser’s poor management style and lack of business foresight, products became less competitive, its quality deteriorated. I decided it was time to break away.