Paco Cosentino delivered the NKBA's 2014 State of the Industry Address at KBIS.
This afternoon, many attendees at Design & Construction Week took a break to hear Francisco “Paco” Martinez-Cosentino, president of the Cosentino Group, deliver the State of the Industry Address. Those in attendance learned about the Cosentino Group – beginning with its early days as a struggling company as well as its keys to success in today’s marketplace.
Paco Cosentino shared his story about his father’s small business in a small town in Spain, and his ups and downs in trying new things and constant searching to find the right niche. There were failures and bankruptcies along the way, but Paco Cosentino never let his determination waiver.
“Luckily, I worked with a team that had the same spirit I did,” he commented. “We were determined not to fail.” And he believes that it is that type of commitment and faith that is one of the keys to success.
After spending a few years trying to create a surfacing product that used leftover marble pieces, Paco Cosentino and his son turned their attention to quartz. Though they were successful, the attempt to use it as a flooring material was a failure. Luckily, he took the advice of a customer who suggested they try the material as a countertop for kitchen and bath stores. “This is where I found my allies,” said Cosentino, “and Silestone was born.”
While many considered the kitchen and bath market to be too small to go after, Paco Cosentino believed the company had found its niche. Today, the product is sold in 60,000 stores.
He told the attendees, “Everyone will tried to copy you and compete with you. If you rest on your laurels, you’re dead.”
He continued, “The entrepreneur has to innovate, innovate, innovate. He has to do the things that people are not doing. You need to study different cultures and figure out what is not being done.”
Cosentino Group’s latest offering is Dekton, a surfacing product made from quartz, glass, ash and other materials.
Paco Cosentino concluded his presentation by noting that the most important factors for today’s businesses are their people and the company’s commitment to them, the need to be humble and trustworthy, and to just have fun with what you do.