Entrepreneur 26: PENNY NGU-ONG

PENNY NGU-ONG

Business: Apple & Eve

Category: The Young Millionaires

The business started during her trip to Los Angeles during her senior year in high school. It struck me how Manila lacked high quality clothing that didn't come with a high price tag. At the age of 23 she started Apple & Eve with a single store and a handful of employees.

She had one goal in mind for the business which is to provide customers with clothing and accessories that enhanced personal style. And in order to achieve the goal she designed her own collection and scouted for suppliers around Asia who could make the clothes using high-quality fabric. At her young age no one was taking her seriously. Suppliers would give her a price and it was take it or leave it, she had to conform to what they wanted. 

When the store started, she used to go abroad every two months to meet with her five suppliers. But when she have established a good working relationship with her suppliers she only do her designs here and the suppliers ship the clothes.

The biggest challenge was achieving the perfect balance between quality and price. Another was to stand out against other local brands that were heavily into advertising. 

They make sure they only have a few pieces of each design and new styles are added to the stores every week. They try to be low key and subtle in our approach to business. They are uncompromising when it comes to quality. And to our prices, they keep them reasonable.

"My advice to aspiring entrepreneurs is that they should be sensitive to their market and to adapt to change. We always listen to our customers; they're the people who best determine what the brand really needs... I see my being young as an advantage because it gives me an edge in knowing my market; it has never been a hindrance. And I don't follow any script formula - I learn mainly through experience. Our ultimate goal is to expand throughout Asia."

GOLDEN RULE:

"Do what you think you should do, not what others expect you to do."