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History of Bench Company

Autor:   •  October 13, 2015  •  Research Paper  •  1,029 Words (5 Pages)  •  5,094 Views

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History of Bench

Bench/ was established in 1987 opening up as a small store selling men's T-shirts. The company has now grown to include a ladies' line, underwear, fragrances, housewares, snacks and other lifestyle products. Beginning in 1987 with a small store selling men’s t-shirts, Bench grew at an unparalleled rate by being the pioneer in the use of celebrity endorsers, television and giant billboards to propel a fashion brand that offers premium quality products at affordable prices. To date, Bench has grown to include a ladies’ line, underwear, fragrances, housewares, snacks, and a wide array of other lifestyle products, with the distinction of being present in virtually every retail space in the Philippines, and with a worldwide network of stores and outlets, reaching as far as the United States, the Middle East, and China. As it sliced through demographic divisions -- age, gender, socioeconomic status -- a stirring slogan, “Bench is forever”, became the company’s abiding creed. Bench is a leading lifestyle and fashion chain in the Philippines. The trademark is derived from the acronym of the founder's first and last names (Ben Chan). From its humble beginnings, the t-shirt offerings expanded into a whole lifestyle store, offering Fix Salon for hair products and services, stationary line Prescribe(r), Bench Brats for teenagers, Bench Body and Bath specializing in bath and fragrance products, and now Her Bench offering a complete women's line, including fragrances and cosmetics.

Bench as a Global Brand

From a t-shirt in 1987 to its present roster of 37 lifestyle brands under its mother company, Suyen Corp., Bench has reached markets in China, the Middle East and the US. In SM where the brand started, Bench outlets almost double that of the malls’ – 75 out of SM’s present 46 nationwide. This shows how much history the two companies share as successful home-grown businesses.

The early years

Even as a young entrepreneur back in the 80s, now company chairman Ben Chan knew then that he had something to offer to the Philippine market. Seeing an opportunity in the casual men’s fashion category, he used his background in design and family business experience to go on his own. By some twist of fate, Chan noticed that SM Department Store had its doors open to young business novices like him. “Most entrepreneurs start out this way. They are not satisfied with what is out there, so instead of complaining, they put up their own thing,” shared Chan. “I thought I could make some innovations in the market. SM Department Store, more than any other retail chain, was very supportive of young designers and upstart entrepreneurs, so naturally, I started my business at SM. “It was indeed the start of a long partnership. Chan’s keen eye for trends and SM’s soft spot for promising new businesses proved to be a great match that eventually helped Bench toward early profitability. “Placing Bench first in SM was a surefire way to get my brand noticed by the right market, especially since my product lineup was very limited at that time,” said Chan.

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