In 1999, when Go Negosyo exponent Joey Concepcion was in his 40s, the family’s RFM Corporation formed a sweet joint venture with multinational Unilever, officially launching Unilever RFM Ice Cream Inc.
This partnership, now celebrating its silver anniversary, combines RFM’s local expertise with Unilever’s vast global reach, capitalizing on over P480 billion in worldwide ice cream sales from iconic brands like Ben & Jerry’s, Magnum, and Cornetto.
Concepcion, now chief executive officer of RFM, recently hosted a top management meeting to reaffirm their commitment to the Philippine ice cream market. He expressed optimism about the partnership’s potential for stronger performance, especially under the leadership of Unilever’s global ice cream segment president, Peter ter Kulve.
Both executives continue to see immense growth opportunities in the Philippines, positioning the country as a significant consumer market for ice cream.
The Selecta Ice Cream brand, which RFM acquired from Arce family a few years before the Unilever joint venture, has a rich history dating back to the 1940s when the Philippines was just emerging from the ravages of World War II, when American-style ice parlors were still in vogue. Since then, Selecta has blossomed into a household name, featuring endorsements from beloved Filipino celebrities such as Sharon Cuneta, Aga Mulach, and Sarah Geronimo that further solidified its market presence.
The joint venture’s inception allowed the integration of RFM’s Selecta brand with Unilever’s extensive resources, elevating the ice cream experience for Filipino consumers. This collaboration introduced popular new products like Magnum and Cornetto, positioning URIC as a leading player in the industry and consistently ranking among Unilever’s top-performing ice cream businesses worldwide.
Concepcion underscores the strategic importance of this joint venture in RFM’s growth narrative. As the CEO of the publicly listed food and beverage company, he assured shareholders of continued growth fueled by innovations from Unilever’s global ice cream research and development efforts. The partnership aims to introduce new brands and leverage updated consumer insights, all while fostering a spirit of local entrepreneurship.
The ice cream segment accounts for about one-third of RFM total revenues, making it a key anchor of its future growth.
