Tanduay Distillers Inc., led by president and COO Lucio “Hun Hun” Tan III and executive vice president Kyle Tan, posted an 18 percent growth in profit to P235 million in the first quarter from P199 million in the same period last year.
The Tan brothers towed Tanduay to a sizzling 63 percent jump in net income to P1.1 billion in 2020, their first full year in charge of the company since their father died in November 2019.
Revenues surged 10.8 percent to P5.6 billion as Hun Hun and Kyle boosted sales and prices while slashing costs just like they did the previous year.
Tanduay is the third-largest distilled spirits producer in the Philippines with a 22.5 percent market share, according to Nielsen Philippines.
Both brothers, who are pushing Tanduay’s digital and overseas expansion, are well-educated and have good work experience.
Prior to joining Tanduay- Hun Hun has a bachelor’s degree in electrical engineering and a master’s degree in computer science from Stanford University, and worked for Lyft in San Francisco while Kyle Tan has a bachelor’s degree in computer engineering and a master’s degree in computer science from the University of Southern California and had a job in Microsoft.