Company Intro: SSI Group, Inc. (SSI)

Background

SSI Group, Inc. (SSI) is a Philippine corporation established in 1987 with brand management and specialty retailing as its principal businesses. The Company’s business is based on the concept of introducing globally recognized brands to the Philippine market through specialty store retailing.

As of December 2014, its network consists of over 700 specialty stores with more than 133,000sqm of prime retail space and home of top global brands such as Burberry, GAP, GUCCI, Lacoste, MAC, Marks & Spencer, Muji, Zara and TWG among others.

SSI recently expanded into other retail formats such as convenience store (FamilyMart in 2013) and department store (Wellworth in 2014) by partnering with Ayala Land through joint ventures.

SSI held its initial public offering on November 2014 at the price of P7.50/share.

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Ownership & Structure

70.39% owned by Tantoco Family, 29.61% public ownership

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Key Management Personnel

Zenaida Tantoco, Chairman and CEO
Anthony T. Huang, President (son of Zenaida Tantoco)

Major Competitors

Local retailers include Robinsons Specialty Stores, Inc., Suyen Corp, Retail Specialist, Inc., Vogue Concepts, Inc., the Primer Group, and SM Retail, Inc. while international retailers include Uniqlo and H&M

Competitive Advantages

Broad portfolio of international brands, established relationship with brand principal, market leadership, strong and strategic retail presence

Major Risks

Dependency on rights granted by brand agreements with brand principals, renewal of  leases, dependency on growth of mall operators, increased competition, sale of counterfeit products, foreign currency fluctuations

Dividend Policy

None

PD: I used to audit International Specialty Concepts, Inc. (ZARA) back in my SGV days in 2007-2010.

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