Home of big ideas
It has become a household name, the ultimate go-to shop of many homebuilders.
Wilcon Depot, over the past four decades, has become a solid partner for those in search of quality home improvement and construction supplies, including individuals seeking to further enhance their space or upgrade the look of their home.
From its humble beginnings as a small, modest hardware shop, Wilcon Depot is without a doubt now an award-winning trailblazer and a strong pillar of the retail construction industry.
Its founder and chairman emeritus William T. Belo truly has much to be proud of as the company has managed to cement its foothold in the market by always setting the trends and raising the bar year after year. The home improvement and construction supply giant has also been providing the market with a comprehensive array of trusted local and well renowned international brands, unparalleled services, as well as innovative yet practical home ideas.
Helping Belo in sustaining growth and preserving the company’s solid reputation as a provider of high grade supplies are no less than his own children whom, in their own capacity, are now contributing significantly to preserving the company’s legacy.
Here, the elder Belo and his children share their journey in making Wilcon Depot what it is today.
Inquirer Property (IP): When did the children start to show interest in the business?
William Belo (WB): All my three children studied full time during grade school until they finished college. Even while they were still in school, they knew that they would need to work for the family business after college. They immediately started working after graduation and fortunately, all three of them started enjoying their work in the company.
IP: When did your children start working for the family business? Was it something you strongly encouraged or did it come naturally?
WB: They all started working at Wilcon immediately after college. They were told and they themselves knew that the family business was where they would be working right after graduation. And when you are fresh out of college working at your first job with an environment that’s conducive in supporting your growth, it would be easy for anyone to like it and eventually learn to love it.
IP: What’s the best part of having family members as part of the business?
WB: The best part is succession assurance. With the children working in the business, there is an assurance of the second generation eventually taking over the business. Having your children in the business has the advantage of really finding out each one’s strengths and weaknesses so we can maximize their contribution by placing them in areas where they are best suited.
IP: Did you encounter any challenges or setbacks in having family members on board? If yes, how did you resolve these?
WB: Disagreements make up most of the challenges in working with family though they are easily resolved with discussion and clarification. Any major concerns would usually be settled with proper explanation and continuous dialog.
IP: Having built an empire, what do you hope your children to achieve once they are at the helm of the company?
WB: The expectations are to continue physical store expansion across the entire Philippines, continue our product line expansion to provide customers with better options, continue to develop our people in ensuring they are not only well-trained in product knowledge but that they also provide excellent customer service and develop our human resources in providing everyone a clear career path in their professional careers.
IP: What are the best learnings can you impart to the next generation?
WB: Know your work, study the assigned tasks well. You cannot supervise someone without them knowing the task itself. Don’t be afraid to make mistakes. Learn from it. Nothing in this world is perfect.
IP: Why did you decide to join the family business?
Lorraine Belo-Cincochan (LBC): Working in the family business was quite strongly suggested while I was in college. It was really a choice of working for someone else or for your own future. At the time, I thought that if I helped make the business grow, it would ultimately benefit myself and my family as opposed to working for another company where I was simply an employee with limited benefits.
Mark Belo (MB): To be honest, it was due to a sense of duty. While there were strong hints of joining the business, nothing was explicit and you certainly knew and felt what was expected. Regardless, I just threw myself at the work and tried not to think about it. Eventually, I learned to find fulfillment in what I do.
Careen Belo (CB): At a young age, we were already guided to help out in the family business. While I was in high school, my father would bring home documents for me to check so I already had the sense of wanting and needing to help my dad in the business.
IP: When and what was your first exposure in the family business?
LBC: I remember going to our Wilcon hardware store along Quezon Avenue as a small child and looking at all the faucet displays. Our old house also had stocks of tiles piled up in different areas so you could say I grew up surrounded by building materials.
MB: I was in college and I was a DIY salesman and picker.
CB: While I was in high school, my father would bring home documents for me to check.
IP: Given the learnings you’ve had from your parents, what kind of innovations do you intend to bring to the table in order for the company to remain relevant and highly attuned to the needs of the market?
LBC: The buzzwords right now, especially in the Asean region, are omni-channel and digital transformation. One strategy that I want to push for is developing our digital capabilities in reaching our customers both online and offline with the same products and services that we have on offer.
MB: I have suggested and implemented many small innovations in the company. But to sum them up, it is about adapting industry best practices while trying to make them fit into the company culture to increase accountability and empower employees to make more autonomous decisions. From day one, I also wanted Wilcon to become a more data driven company. There is still untapped potential here and it would be exciting to make it happen.
CB: The beauty of retail is the flexibility that we have in selecting which new designs and/or technology we can introduce to the market. Given the constant global exposure that we get traveling and sourcing products, we make sure that we find out new product innovations, bring it in and create demand for it. Aside from this, we are always on the look out for world class stores to get inspiration from.
