Local resort market ‘sunnier’
Costume jewelry exporter diversifies at home, while waiting for markets abroad to recover
SURVIVING the export industry, particularly in the costume jewelry segment, remains a challenge now that jewelry export is down. But for a homegrown accessory maker, which has sustained the business for more than 20 years now, tapping the local market buffered the impact of declining global demand.
Cyprea International Inc., a manufacturer of costume jewelry, started out exporting products made from natural materials to major clients in Europe and the United States during the 1980s.
“At that time, the government was encouraging us to go export because exporting at that time was good. So I grabbed the opportunity and said yes,” said Cebuana entrepreneur Janet Chua.
Costume jewelrymaking in the Philippines started in the 1970s when the demand for puka shell accessories shot up.
For Cyprea, the business started well and performed well for years, Chua said. Cebu became the hub of costume accessory-making in the Philippines, with roughly 100 players joining the industry. Raw materials were abundant in Cebu, like wood, bamboo, shells and coconut, and these were matched by a pool of creative workers.
Change
In 2008, the landscape changed. Widespread economic recession abroad slowed down exporting, and Cyprea International was no exception. Its major buyers were based in the United States and Europe, which reeled from the recession.
Just two years before the recession, Cyprea had established its local presence, but it was not jewelry, but footwear, that paved the way for its local retail operations.
“The export market is down pa gyud now and jewelry is down in general… we diversified so that we will not just become reliant on export and be able to maintain the demand,” Chua said.
In 2006, Chua opened an Island Girl shop in Boracay and displayed not only jewelry but also san- dals and beach footwear. Through this brand, Chua has expanded her product line from jewelry to footwear and resort apparel.
“We made our own brand, Island Girl. Actually, we sell to a lot of brands abroad and they mix it with other accessories, but they use their own brand. So there is no Filipino identity there,” she said.
At present, Chua is working on strengthening Island Girl as a “resort brand” side by side with promoting the Philippines as a resort destination.
“We can proudly say it’s Philippine-made but it’s a resort brand. It’s not just a souvenir item, but something they (buyers) can really use,” Chua noted.
Chua said she plans to continue exporting costume jewelry, adding that the demand for costume jewelry made out of natural materials is expected to go up by 2016.
Chua employs over a hundred accessory and apparel makers. She plans to expand the company’s retail presence in malls once they get a wider inventory.
Aside from its Boracay store, Island Girl also maintains a shop in Panglao, Bohol, a display in Metro Ayala and an online store, islandgirlph.com.
To let buyers personalize their items, Island Girl will also offer a beads buffet activity in their shop in Lapu-Lapu City.