RONALD PINEDA
Business: Folded and Hung
Category: The Young Millionaire
"Folded and Hung has evolved into a distinct style and personality that competitors would be hard put to imitate."He studied dentistry to please his father, but after he graduated he realized that his calling was in the garments business. He invited his friends and siblings to partner with him in Folded and Hung. The first branch was opened in Shoppesville, Greenhills in 1997, where they sold ready-to-wear clothes for yuppies and teenagers.
Clothes at Folded and Hung are designed here but manufactured abroad. They've maintained their brand positioning as a fashion store that offers the latest trends at affordable prices.
They've learned that hard work and focus are key factors to success. They started the company with less than 10 employees who did everything from tagging, packing, delivery, store maintenance, selling and marketing.
As their way of giving back to the community, they mounted a major marketing campaign, dubbed the F and H Denim Dream Holiday Promotion. They partnered with other corporate sponsors to raise funds for ABS-CBN's Bantay Bata 163.
Although garments retailing is one of the most competitive industries in the Philippines, he's not fazed by competition. Their having a clearly defined brand is what prods the group to strive to be better by coming up with new product lines that are attuned to shifts in market preferences.
"Most of us are scared of the future because we don't know what it would bring. But by inventing the future, somehow we can control it."GOLDEN RULE:
"The only way one can predict the future is to invent it. We are always on the lookout for opportunities to widen our product lines to address all our customers' needs."
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