The Great Debate Forum: “Expanding? Company-Owned vs. Franchise”
Mr. Joel Cruz
Aficionado
President & CEO
Mr. Joel Cruz is the President and CEO of Central Affirmative Company Inc., the company behind Aficionado Perfume. He began his career in apparel subcontracting before transitioning to the fragrance industry during the 1997 Asian Financial Crisis.
From a single kiosk in Monumento, Aficionado grew into a leading fragrance brand with nationwide and international presence, offering high-quality European-inspired scents at accessible prices. The company operates multiple branches, an extensive franchise network, institutional accounts, and exports to 19 countries, with strong e-commerce presence on Shopee, Lazada, TikTok, and Amazon. It also provides toll manufacturing services through its ISO 9001-certified plant in Bulacan.
Under his leadership, the company has earned prestigious recognitions, including the Franchise Excellence Award, ASEAN Business Award, Outstanding Filipino Retailer Award, FMCG Award, and the TOTAL and Distinguished Alumni Awards from UST, as well as recognition from Forbes’ Heroes of Philanthropy.
He is a Bachelor of Science in Psychology (Pre-Medicine) graduate of University of Santo Tomas.
An entrepreneur with diversified ventures in real estate (Philippines, US, and Japan), hospitality, and advertising, Mr. Cruz continues to lead with vision and excellence as the company marks its 25th anniversary.
