(The Freeman) Updated July 10, 2009 12:00 AM
CEBU, Philippines – Cebu-based apparel giant Golden ABC Inc., plans more brand acquisitions in the next few years, to expand its business and maximize its expertise in clothing retail industry.
After its acquisition of 20 year-old apparel brand Regatta, Golden ABC Inc., president and chief executive officer (CEO) Bernie Liu said the company is on constant dialogue with existing local brands, including foreign names.
However, Liu said Golden ABC is not rushing its bid for more acquisitions, while the economy is still very fragile.
Golden ABC Inc., the maker of known apparel brands like Penshoppe, For Me, Memo, Oxygen, and now Regatta, is one of the largest, if not the largest apparel maker in the country.
Liu said in the next couple of years, the company may start to apply as brand-licensee for known foreign apparel brands. He however, refused to divulge the foreign apparel brands that the company is eyeing upon.
According to Liu, the apparel retail business is still a promising trade in the country, as it has proven to be very resilient, even though it has gone through a series of crises and challenging economic environment, including globalization.
In fact, Liu said the company is now on its aggressive mode to expand its direct-selling arm known as “Red Logo”, which already has over 20 thousand active members and dealers nationwide.
The company entered into the promising direct selling market in the Philippines April of last year. It started in Metro Manila and is now set to open its first distribution center in Cebu this month.
The Cebu “Red Logo” center is the 6th distribution facility nationwide, Liu said. The direct selling arm carries different in-house brands namely; Fuel, Agenda, Truth and Hush (for its underwear line).
Red Logo, has started to compete head-on with seasoned direct selling names like Avon, SaraLee, Natasha, among others.
“Direct selling business will always do well during crisis. It will also give business to the dealers, for sideline income,” he said. — Ehda M. Dagooc
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