ANN CHRISTINE PALISOC, President, Philippine Wacoal Corp.
“In our culture or maybe in our industry, I honestly cannot tell if there’s any difference that people would pay attention to if their boss is a man or a woman. I believe that I have kept different management styles in mind when handling a situation, but strategically, I have to be transparent in my plans and decisions in order to get the employees’ cooperation.”
THE business card of Ann Christine Palisoc, president of Philippine Wacoal Corp., has a pink ribbon on its upper right-hand corner to emphasize that the company supports breast cancer awareness.
“We started by investing in informational materials such as videos and flyers to raise awareness about breast cancer,” Palisoc told The Manila Times.
“Then we partnered with a foundation, Gift2Life, to help us provide accurate information.
“The same foundation helped us expand our reach by reaching out to communities and providing medical assistance to those who needed it.”
Philippine Wacoal Corp. (PWC) was Palisoc’s client when she worked as an auditor at Sycip, Gorres, Velayo & Co. in 1991.
“Three years later, PWC invited me to join the company as an accounting officer,” shared Palisoc.
“By volunteering to help, I got involved in different divisions of the company. This has led me to learn and have a better understanding of the needs of each division.
“To gain better knowledge, I took up certificate courses in marketing at De La Salle-College of St. Benilde and, eventually, a Master degree in business administration at De La Salle University.
“My former superiors provided me with a great deal of support as I progressed with the company. In the same way, I was able to earn the trust of the regional office, as well as the other Wacoal subsidiaries before I was granted the position of president.
“My motivation comes from the trust and support that I receive from the employees, the headquarters and the business partners. I am grateful for all of these things.”
Wacoal started in the Philippines 35 years ago.
To date, the company has 14 stand-alone shops, 69 department store counters, four e-commerce stores and nine direct sales branches nationwide.
Wacoal is recognized as one of the most prominent undergarment brands in the country. Through the combined efforts of all of the company’s employees, as well as the business partners of the company, Wacoal was able to achieve both profitability and growth in its business year after year.
The company makes it a point to celebrate its anniversary every five years.
DEEP TIES Philippine Wacoal Corp. (PWC) was Ann Christine Palisoc’s client when she was an auditor at Sycip, Gorres, Velayo & Co. in 1991. Three years later, PWC invited her to join the company as an accounting officer. CONTRIBUTED PHOTOS
“We actually celebrate every year with the employees and dealers, but on a more intimate basis,” said Palisoc.
“However, since our 20th anniversary and every five years thereafter, we have seen to it that we recognize our business partners, such as department stores, suppliers, advocacy partners, dealers and employees. We do this by holding a large event to express our appreciation for their unwavering support and commitment over an extended period of time.”
As a lady boss in a multinational company, Palisoc finds her job fulfilling through the years. To date, she is the first female president of Wacoal in Asia.
“My primary responsibility is to set the company’s direction and provide leadership to its members in order to fulfill the company’s mission,” Palisoc said.
“In our culture or maybe in our industry, I honestly cannot tell if there’s any difference that people would pay attention to if their boss is a man or a woman.
“I believe that I have kept different management styles in mind when handling a situation, but strategically, I have to be transparent in my plans and decisions in order to get the employees’ cooperation.”
Expectedly, the pandemic affected Wacoal, with sales dropping to 50 percent in the first year. That caused major losses for the company. Yet, not one employee had been laid off. The business nonetheless survived.
“I have to help the staff grasp the situation of the business and the actions we need to take,” Palisoc said.
“The uncertainty of the pandemic presented the toughest challenge I came across with.
“Employees look up to me as the leader, thus I had to reassure them that nobody would be left behind. Our sales right away recovered in the second year and exceeded pre-pandemic levels.”
Wacoal has been consistent in differentiating itself from its competitors.
“We developed products based on our knowledge of women’s bodies and how they age over time,” Palisoc said.
“The employees are trained to understand the woman’s body so they can recommend the products that are best suited to her.
“In this industry, price competition is persistent in order to gain market share. To gain the confidence of customers, we need to be consistent with our pricing strategy. To add value to customers, we offer a loyalty program and gift-with-purchase items. We occasionally hold markdown sale events and offer special bundles to thank our customers and encourage purchases from the price-sensitive market segment.”
Wacoal is a prominent multinational brand that has dedicated time to relationship-building through the years.
“Relationship building is key to the success of our business,” Palisoc pointed out.
“To earn the trust of our stakeholders, we need to be consistent with our policies. Having a good relationship with our stakeholders allows us to manage our business more efficiently. It reduces the time and effort necessary to deliver the products and services.
“Managing the needs of the customers becomes a shared responsibility among the many participants in the process. Nurturing this relationship allows the stakeholders to grow together with Wacoal.”
Palisoc grew up focused on completing her studies, taking things one step at a time.
“My mother has instilled in me the idea that my life will improve if I complete my education,” she said. “I didn’t have a specific profession in mind. My goal was to pursue education, so I applied for scholarships.
“I was blessed to get a full scholarship in high school and was then offered a scholarship at the University of the East to take up Business Administration major in Accounting. I diligently studied to keep my scholarship and eventually pass the CPA (Certified Public Accountant) board examination.”
Even before she graduated from college, Palisoc received offers of employment from several auditing firms. She decided to join Sycip, Gorres, Velayo & Co.
“I stayed with the company for only one busy season,” Palisoc admitted.
“Then I moved to Boracay to work as an accountant in one of the resorts there. Ayala Properties then purchased the resort, prompting my return to Manila.
“The University of the East then invited me to teach. A year later, I joined Philippine Wacoal Corporation. I was in my mid-30s when I decided to pursue higher studies and that greatly prepared me for my role today.”
Before the virus totally disrupted everything around us, Palisoc and her family spent a holiday in Baguio City. She recently returned from a mixed business and pleasure trip in Bangkok (Thailand).
Palisoc is an active volunteer with Soroptimist, a global organization of female volunteers with the goal of empowering women and girls.
“I belong to Soroptimist International of Ortigas and Environs,” Palisoc said. “My club is actively engaged in various activities such as medical outreach, scholarship grants and livelihood projects. My husband and I seek spiritual guidance through Couples for Christ. My husband is currently the chapter head, and I support him.
“It is actually difficult to achieve a balance between work, home and other commitments. It is always a conscious effort to be present to fulfill my responsibilities. I had to beg off some invitations in order to manage my time properly.”
When Palisoc has free time, she likes to relax by surfing the web, watching a movie or TV show.
“I like going on vacation with my family, to the beach, camping or on long trips where we do lots of different things,” Palisoc said. “I also try to catch up with my friends, watch movies or concerts.
“Both my husband and I make sure that we talk to our family every day, even at times we live in different places. My family understands the different roles I play and provides me with their love and moral support. They always remind me to prioritize my health.”
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QUICK QUESTIONS
WHAT IS YOUR BIGGEST FEAR?
Death
WHAT REALLY MAKES YOU ANGRY?
Whenever my husband tries to correct motorists or pedestrians while he is driving.
WHAT MOTIVATES YOU TO WORK HARD?
Earning the trust of the people I work with.
WHAT MAKES YOU LAUGH THE MOST?
My daughter.
WHAT WOULD YOU DO IF YOU WON THE LOTTO?
Hire personal assistants, travel and invest.
IF YOU COULD SHARE A MEAL WITH ANY INDIVIDUAL LIVING OR DEAD, WHO WOULD THEY BE?
Jesus Christ
WHERE DO YOU SEE YOURSELF IN 10 YEARS?
Retirement
WHICH CELEBRITY WOULD YOU LIKE TO MEET FOR A CUP OF COFFEE?
Ms. Karen Davila
WHAT IS THE MOST DARING THING YOU HAVE EVER DONE?
When I took the plunge in Bohol.
WHAT IS THE ONE THING YOU WILL NEVER DO AGAIN?
Making a haphazard decision.
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