The rags-to-riches story of entrepreneur Salud Tesoro is recapped in the picture book “Salud S. Tesoro: The Story of a Successful Entrepreneurial Filipina.”
The book reveals how Tesoro freed herself from being a domesticated wife to establish Tesoro’s Handicrafts. The business she cofounded with her husband set the benchmark for retailing quality local artisan products.
Salud Pineda Santos was born in Baliuag in 1915. Abandoned by her parents, she and her two sisters were raised by her grandmother and uncle, Manuel Pineda. He was a manufacturer, buyer and wholesaler of hats, then a major export item. Ambitious, he opened a retail store in Intramuros while also nurturing political ambitions.
Pineda pressured Salud to forgo her schooling to tend to the family business. With her fortitude and discipline, she managed the store even during the Depression days. In 1939, Salud married lawyer Nestor Tesoro, who later supported her aspirations.
Best value
After World War II, Salud started producing and selling hats and bags. With her profits, she gambled on opening an eponymous handicrafts store in Escolta. With demand from a growing clientele, the merchandise diversified into native dinnerware, barong Tagalog and souvenirs.
Nestor then took care of the finances and legalities while Salud managed the creative direction. She knew how much fabric went into making a piña tablecloth or barong Tagalog, and knew to get the best value for them.
As the business expanded, the Tesoros moved to A. Mabini and subsequently opened their flagship in Makati.
“Our parents set the example. Everything that they did for us was for the children and the employees,” says Maria Isabel “Beng” Tesoro, CEO of Tesoros Group.
Salud’s prudence not only enabled the family business to survive through the ups and downs of the economy, but it also allowed them to live comfortably.
“She didn’t waste money on fripperies. She built her own house at 63 years old, after she had set aside money for the 10 children,” says Beng.
The children practically grew up with the business as they lived above the store on Mabini Street.
“Coming from the school bus, I’d help wrap while wearing my uniform,” recalls Beng.
Example
Salud believed in going beyond boundaries, especially when it came to significant investments. In 1977, after years of waiting for the right opportunity to buy property, the Tesoros moved to their new residence behind the Manila Polo Club.
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“She taught us that if you could afford it, go for the stretch,” says Beng. Once, when her sister was going to buy a lot in Alabang, her mother insisted on acquiring property instead in an exclusive development. The value of her sister’s property has now gone up by 300 percent.
As work was her whole life, the matriarch set the example that has become the Tesoros’ culture. From the ’60s to the ’90s, whenever the store was informed that a VIP would arrive as late as midnight, Salud would ask the staff to work overtime. To this day, the staffers assist visiting dignitaries who come after operation hours.
Moreover, a rush order was hardly denied.
“If somebody asked for a barong in the morning, they could have it picked up at 3 p.m.,” says Tesoro.
She cites a recent example when Maybank’s board of directors asked for a dozen barong Tagalog on a Friday for an event on Monday. The sewers agreed to work over the weekend to meet their deadline.
Loyalty
Salud taught the importance of valuing clients to win their loyalty. Once, a woman ordered five barong Tagalog but returned to say that she gave the wrong measurements. Her husband had gained weight. Understanding that the wife would be put on the spot, Salud told the seamstresses to produce a new batch with the new measurements at no extra cost.
“Customers should leave the store feeling that we cared for them,” says Beng. “Our mother smiled when customers were around. People felt it was genuine. She was a warm, real person who inspired us. She showed us that what is in the store is the best in the customer.”
It’s not just the customers and suppliers who have been happy. Some employees have worked with the Tesoros for over three decades.
“We care for people. One has to be fair and to treat people kindly. We are like this today because our experience has been influenced by our parents who started with nothing,” says Beng.
Until her death in 2000, the matriarch was still working.
“She never thought of becoming rich, but she feared becoming poor. She would say that madali maubos ang pera (money is easily consumed). Today, our family could easily split and sell the assets, but we realized we’re doing much better if we keep everything together.”