Cebu-based uniform manufacturer Unisol has set its sights on an ambitious goal – going public by the year 2030, making it the first textile company in the Philippines to achieve an IPO if the listing plan pushes through.
The company, founded in 2017 with a vision to become the go-to brand for uniforms, is now laying the groundwork to achieve this milestone.
According to Unisol’s sales head Leah Baltazar, the path to an IPO hinges on three key factors: stabilizing the company’s consistent growth, ensuring financial stability, and further establishing the Unisol brand.
“Without a dream, there’s no goal,” Baltazar told reporters, emphasizing the importance of setting a clear target.
Achieving IPO status will also require Unisol to strengthen its internal processes and operations, she added.
Baltazar said the company is working towards obtaining ISO certifications for its entire manufacturing process, from decoration to production, to demonstrate its ability to operate at internationally recognized standards.
“Having that ISO certification will definitely help us not just improve our own internal processes and help with our success in that regard, but also give us a great foundation to take when we do IPO,” Baltazar said.
Unisol’s journey to the IPO market is not without its challenges. The company acknowledges the fierce competition in the textile industry, particularly in the sublimation market.
However, Unisol sets itself apart by offering a diverse range of products, in addition to its focus on corporate uniforms and unique sublimation techniques.
The company’s commitment to innovation and technology is also a key differentiator. Unisol has acquired advanced machinery and skill sets from top global brands, allowing them to produce precise sublimation prints and continuously improve their operations.
Unisol’s expansion plans extend beyond the Philippines, with the company eyeing global markets starting in 2025. The focus will be on taking the Philippine workwear industry abroad, with a particular emphasis on promoting the unique Piña (pineapple) fabric.
“Philippine tropical fabric is going to be the next Chinese silk,” said Marcus Wong, Unisol’s marketing head and COO.
Unisol is working to develop the Piña material, a sustainable and cost-efficient alternative to traditional textiles, for use in a wide range of clothing items, from t-shirts to jackets.
To support its international ambitions, Unisol is seeking government assistance, particularly in partnering with the different chambers of commerce in the Philippines in promoting the brand in target markets.
Wong said this collaboration will be crucial in showcasing the creativity and expertise of the Filipino textile industry on a global stage.
Business News Asia