Victoria Turegun – Doing High-End Business in the Philippines

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Victoria Turegun – Doing High-End Business in the Philippines

Derek is once again joined by Victoria Turegun and they will talk about what Victoria has learned, doing high-end business in the Philippines.

Summary

  • Victoria Turegun is an expat, Russian-Ukrainian with a varied upbringing living now in Manila and dealing with the art world and high-end luxury goods market.
  • According to Victoria, the market in the Philippines is very narrow and it’s not only related to art or painting it’s also about fashion, brands, and trends.
  • There are a lot of wealthy Filipinos and the majority of them drive around in Toyotas and are very mindful not to stick out too much.
  • However, according to Victoria, the reason why most Filipinos drive Toyotas, even wealthy Filipinos is because of the price, marketing and availability of other cars in the Philippines.
  • Victoria said that most Filipinos are not that open to trying out new brands, instead, they stick to the brands that they know.
  • Young artists are having a hard time getting known in the Philippines. In many countries, sadly, it is like that. You need to have the right connections and money in the Philippines to be able to arrange your personal exhibitions. As a result, artists who get recognized are only the ones who came from well-established families.

 

Key Points

  • Filipinos are very supportive of their own brands.
  • Most artists who make it big in the Philippines are the ones from wealthy and well-established families.
  • Filipinos are very hesitant to try out new brands and instead they stick to the brands that they already know.

 

Resources

  • outsourceaccelerator.com/podcast/episode35

 

Transcript

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