Session 11: How the Owners of Acquasuisse Bounced Back from a Financial Crisis that Almost Destroyed Their Business

By Jerry | Leapreneur Insights

Jan 13

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A Glimpse of What You Will Learn in this Session:

1.) How they bounced back from a financial crisis in their business

2.) Why you should be careful be careful with the people you hire

3.) Why you should not compete on price

4.) Why you should create a good concept

5.) How to keep updated with the latest trends

 

TRIVIA: Why are Chinese people generally good in business? Is it innate or taught? Listen to the session to find out.

Plus many, many, more…

 

ABOUT OUR GUEST

 

Web_Session-11-01aThe major fallback that hit the Chung family in the mid 90’s did not stop the siblings, John and Jelyn to rise again in their industry.

Their family has been into raw material trading business, such as chemicals for personal care and household industry. In 1993, they ventured into retail distribution, and in the late 90’s they engaged into contract manufacturing for different brands. Unfortunately, the company was put into a bad state when they’ve been swindled by the same person they have trusted so much.

John and Suisse Fragrance

John started his business career in late 1995. However, it wasn’t an easy take over for him. He had to face the company’s financial problems as well as the effect of the Asian financial crisis in early 1997, which has greatly affected their businesses.

In 2004, he started Suisse Fragrances Incorporated, while still into contract manufacturing business for other brands. In the same year, John created a concept for the franchise industry called Buy the Liter. They supplied finish products of perfumes and personal care products by liters, to different micro entrepreneurs. They also sell packaging materials and sticker labels for the clients to customize their items and have their own brand.

 

Scent of success

After the success of Buy the Liter, John conceptualized another business idea, which is a perfume bar. From there, he created a brand name that would fit the retail market. Since their fragrant oils were from Switzerland, he wanted his brand to be associated to it, so he named it Acquasuisse.

Eventually, Acquasuisse became a popular brand not just for Filipinos, but also to foreigners. With the help of his sister Jelyn, John was able to bring back his family’s business to its former glory.

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