Leaders of Luxury: Victor Siasat
We don’t usually choose the brands we work with; they choose us. It’s only at that point that we assess whether the brand aligns with our portfolio. There are many factors to consider when evaluating a brand: the business model, pricing structure, target market, and whether it fits the Philippine market. Honestly, much of it comes down to an informed guess.
Our business faces several challenges today. One major issue is foreign exchange, which can significantly impact profitability. Logistics is another concern, especially in today’s unpredictable global climate. Products don’t always arrive on time, and in a time sensitive industry like ours, that can be a big problem. When it comes to data, it’s a helpful tool, but fashion isn’t an exact science. While data has its place, trends are more often guided by intuition and observation. You need to keep your ear to the ground and understand how people respond. Relying solely on existing customers or numbers can be limiting; fashion is driven as much by instinct as by insight.
Online and brick-and-mortar retail go hand in hand. Especially in the luxury segment, there’s no substitute for experiencing a product in person—touching it, trying it on, seeing how it feels. That physical connection is essential. At the same time, Philippine luxury shoppers are highly active online, so digital platforms are key to complementing the in-store experience.
Influencers and key opinion leaders (KOLs) play a surprisingly vital role in our business, especially the more established ones. When they speak, people listen, and in many ways, they act like salespeople: They invite others to explore, share their personal experiences, and influence purchasing behavior. Even at the luxury level, their impact is significant. However, not all influencers are the same. Each brand requires a specific type of influencer, and finding the right fit is crucial. The effectiveness of an influencer depends heavily on how well they align with the brand’s identity.
We value our relationships with our brand principals deeply. Just like any meaningful human relationship, we work hard to nurture them. If a founder is involved, we treat their brand as the product of their life’s work. Entrusting it to us is an honor and a responsibility. Over time, authenticity becomes essential; there’s no room for insincerity. It’s about sensitivity, respect, and building trust, just like any lasting friendship.
As told to Alicia Colby-Sy. Photo by Joseph Pascual