MANILA -- Indian firm Wipro Consumer Care has fully acquired the stake of Ang-Hortaleza Corporation in the personal care business of Splash Corporation, optimistic about the Philippine market but with plans to bring the homegrown brand to the international scene.
Splash is among the largest personal care players in the Philippines which has built brands in whitening, exfoliant, and haircare categories.
Nagender Arya, Regional Director at Wipro Consumer Care, is bullish the local market will continue growing in the next five to 10 years.
“We have to grow the Philippine (market). We expect to continue to grow in double-digit in Philippines and the export of the international business has to be on top,” he said in an interview Monday.
Arya said they are eyeing to start this year exporting the personal care products to Nigeria, Middle East, Vietnam, Indonesia and Hong Kong.
“These are the countries which are closer, where the brands have already some appeal. And probably, we will evaluate in China later. So these are the markets that we have in mind to expand these brands,” he added.
With the acquisition through signing of a share purchase agreement, Arya said Wipro aimed strengthen its consumer care portfolio in personal care and completes its Southeast Asian footprint.
“In Southeast Asia, we are big in Malaysia, we are big in Indonesia, we are big in Vietnam. We are very small in Philippines. We realized that this one market which is a large market but we don’t have direct presence. So we were looking a partner here who could actually grow the business, get us a scale,” he added.
Rolando Hortaleza, chief executive officer and founder of Splash Corp., said “I am very glad that Splash is becoming part of the Wipro group. This gives us immediate access to resources that will help us fuel faster growth in our business, and enable us to unlock the true potential of our brands.” (PNA)
