Understanding Kris Aquino the businesswoman and her financial woes

September 28, 2018 - 3:28 PM
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Screen grab shows actress Kris Aquino going live on Instagram to talk about Communications Assistant Secretary Mocha Uson. (Philstar/File photo)

Kris Aquino opened up about her financial troubles in relation to some of her entrepreneurial endeavors and mentioned that she was “deceived” by her business partner in two of her ventures.

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(EDITED 3:53PM, Sunday, Sept 23) i’ve taken pride in my professionalism, my 100% honesty about financial dealings, and my total respect for endorsement contracts. Direcho na- alam kong pumalpak ako in the past sa personal life so bumabawi ako ng bongga sa trabaho ko at sa pagsusumikap na maging mabuting ina. Because of this ALLOW ME TO FIRMLY SAY THAT I WON’T SEEK ANY NATIONAL ELECTIVE POST IN 2019. i am the only parent providing for the financial & emotional well being of Kuya Josh is in the autism spectrum & will need lifelong care, therapy & intervention; and my bunso, Bimb is only 11 years old. HINDI PO AKO TATAKBO PARA SA SENADO IN 2019. From the start i have OPENLY stated that several multinational & Philippine conglomerate contracts prevent me from any “divisive political participation, comments, or posts except when defending the honor of self, immediate family-meaning the memories of my parents, my siblings, and my sons.” It is unfair to my cousin @bamaquino that in this Pulse Asia poll an Aquino who has stated many times that SHE won’t run for the senate in 2019 had to be included… SUPER CLEAR STATEMENT & w/ zero room for misinterpretation.??❤️?? In the 6 weeks that i quietly suffered because of financial abuse & betrayal we uncovered being done to me by someone i had complete trust & faith in, not to mention the millions he earned from running KCAP & negotiating my endorsements- the stress, inability to eat & sleep properly caused my weight to drop to under 54 kilos. I apologize to all my endorsements & KCAP brand partners for paying the price of an unhealthy Kris Aquino struggling to again find her inner WARRIOR. I’ve asked 2 BRILLIANT legal minds- Atty Sig Fortun & Atty Florin Hilbay to take charge of my legal team in my quest for JUSTICE. i shall pray to stop blaming myself for being made a fool of, because it is a life lesson of knowing when & how much to trust,and how to place safeguards to protect myself & my business interests.

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Hirap na hirap po ako na may mga pinagtakpan sa inyo. Pinayuhan akong manahimik hanggang ma kumpleto ang due diligence. I’ve always been HONEST, sometimes to a fault. The reason you haven’t seen me post new pics is because i lost weight in the last 6 weeks, unable to eat or sleep properly… you told me that you admired my STRENGTH- natakot akong baka mawala ang bilib nyo sa kin because i am now broken. But i decided to set myself free & share w/ you what affected me. My family advised me to have FAITH in our legal system. I am grateful to Atty Sig Fortun for taking care of me over 15 years, and i’m fortunate to now have Atty Florin Hilbay as part of my legal team. Broken trust is like shattered glass, as you try to pick up the pieces, your wounds bleed even more. My PAIN comes from my fear that tens of tax paid millions from my sons’ trust funds, money i conscientiously saved for them because i made a deathbed promise to my MOM that Kuya Josh & Bimb will always come first, baka mawala lahat ng pinagpaguran ko para sa kanila. It is WRONG that the 2 BOYS I LOVE MOST, MY LIFE’S MEANING & INSPIRATION may suffer consequences because i was targeted & deceived by a person with no conscience. The settlement or legal battle will now be in the hands of lawyers i RESPECT, auditing and accounting firms i TRUST, the word of honor of his deeply shamed mother & sister that all my investments shall be returned, and our collective PRAYERS that JUSTICE for my sons will prevail… Everything happens for a reason-maybe God made me experience this humiliation for me to have first hand experience na niloko ako sa pinaghirapan kong pera- dahil nga may BOSES ako at yung boses na yun dapat gamitin para MAGSALITA at IPAGTANGGOL ang mga napipilitang manahimik. I will continue to believe: ang TAMA NILALABAN. ?

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Based on her Facebook post, she experienced “financial abuse” and a “total lack of respect” from her business partner who betrayed her, particularly on her two ventures — Nacho Bimby + Potato Corner (with 14 branches) and Thai beauty brand Snail White.

Kris the businesswoman

Unknown to many, Aquino has several business ventures apart from her showbiz-related commitments.

“I have to have had another success apart from entertainment. Hindi puwedeng pangalan lang ang pinuhunan mo, hindi puwedeng popularity… I have to be able to offer something more than the fame, the popularity and the last name, so kailangan may success ako sa negosyo,” Aquino shared in an episode of “Kris TV.”

Eventually, she went on to franchise fast food chains. She owns two Chowking branches — one in Ali Mall, Cubao and the one in Welcome Rotonda. She also manages Mang Inasal in Anonas.

In December 2016, she met up with Potato Corner president Joe Magsaysay and shared that she looked forward to “growing her investment portfolio” with him.

It was then that she opened her new franchise in partnership with the fries-selling company, the Nacho Bimby + Potato Corner under Nacho Bimby Pilipinas Corp.

She was supposed to franchise a Potato Corner branch but got encouraged to create her own brand instead.

The first branch of Nacho Bimby + Potato Corner opened in Promenade Mall at San Juan City.

According to Nicko Falcis, the business manager of Nacho Bimby + Potato Corner at that time, it took them 18 months to “perfect the business model” of Aquino’s newest venture.

Furthermore, he revealed that the brand partnered with Potato Corner since they wanted to be as successful as the established snack company. By 2018, Nacho Bimby + Potato Corner has developed 14 branches.

Aquino’s most recent venture is Snail White, which she launched from Bangkok, Thailand this September. However, she reported that it is also suffering due to her yet-unnamed business partner’s scheme.