Splash, IDS strike distribution deal
By Elizabeth Sanchez-Lacson
Philippine Daily Inquirer
First Posted 20:28:00 09/28/2008
Filed Under: Economy, Business & Finance
PERSONAL CARE FIRM SPLASH Corp. has entered into a memorandum of understanding with distributor IDS Philippines Inc. (IDSP) for the latter to exclusively carry Splash products.
Splash said in a disclosure that IDSP’s expertise extends to a wide variety of industry segments, including consumer goods, healthcare, footwear and apparel, wine and spirits and retail logistics.
In a separate statement, Splash said it hopes to capture additional revenues of up to P300 million a year from the agreement.
“By expanding our distribution—to various sari-sari stores, market stalls and the like, we are able to bring our innovative and value-differentiated products especially closer to them,” Splash president Jessin Soriano said.
AC Nielsen said in a July 2008 report that Splash is the market leader in various categories: Skin whitening lotion with SkinWhite (26 percent), exfoliant with Maxipeel, (82 percent) and in the hair coloring dye with Kolours (58 percent).
Splash products are available in supermarkets, groceries, drugstores and department stores nationwide.
Splash Corp. went public in November last year, raising nearly P2 billion from the sale of new shares. The funds raised were used for its aggressive brand building efforts, product research and development and the acquisition of brands.
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