Yes you have heard it right in the news that Kimstore warehouse in Tondo Manila was raided by the Philippine Government’s Bureau of Customs due to intelligence reports that this “Online Shop/Store” sells high end tech devices at competitive market prices. The following questions come into my mind when talking about KimStore:
- Why do the news articles say that KimStore is owned by a certain, “Francis”? When in several news reports online and tv sometime ago say, Kimstore was founded and owned by a Millenial, Kim Lato, a Marketing Major from De La Salle University? (see Kim Store Founder / Bio Article )
- I’ve heard and read on how Kimstore handles customer complaints in a not so good way. Does this also reflect a not so good way of internal business practices?
- Is this the reason why Kimstore is able to offer products at a very competitive prices (meaning big discounts due to smuggling of goods, misdeclaring real prices, and not paying adequate taxes)?
I mean it seems to add up that there is something fishy with the way this business came to existence. Of course the question of how a young girl came to import so much means she has back up and capital.
I leave this up to you to judge. What I can just say is Kim, whoever she is, if found guilty, is not a good example of MSME success as what pldt claims her to be.
She is not a good example to millenials who want to make it big in their lives.
Tip: Bureau of customs will not suddenly lock up your warehouse if you are not doing something illegal and stupid.