From The Bottom Up

By: Bernie Liu, Chief Executive Officer, Golden ABC

From an ordinary college student from Cebu to creator and CEO of Golden ABC, mother company of top fashion brands Penshoppe, Oxygen, Memo and ForMe, it’s been quite a journey for retail mogul Bernie H. Liu. Now, he shares the secrets that paved the road to success.

It’s ironic that I should be writing about a “view from the top”, when in fact I started out looking at the world from the bottom rung of the corporate ladder. In 1986, some college friends and I came up with one great idea. We thought of designing a set of graphic t-shirts that would cater specifically to teenagers and young adults. Hence the name

“Penshoppe”. We wanted our clothes to be as accessible and indispensable to students’ lifestyles as the ubiquitous pen.

Seen from the bottom up, it seems as if all it takes to make it is that one great idea. Young, eager entrepreneurs might spend an immense amount of time, effort and resources searching for that one great idea nobody has thought of yet. Find it, they believe, and you’ve got it made. But that one great idea is just the tip of the iceberg. If you’re truly prepared to succeed, then you must also be prepared to get your hands dirty. Success is not just about racking your brains, but rolling up your sleeves. It’s not just about hitting upon the idea that nobody has come up with yet, but doing the work that nobody wants to do.

We didn’t have anything back in 1986. As we all know, that was the year of People Power. We faced a barrage of skepticism with our goal to start a business in the midst of political turmoil. But we firmly believed that we had something unique to contribute to the market, and we were determined to see our vision through. We kept on working right on through years of political battles and natural disasters, in addition to the usual fluctuations of the retail industry. Twenty-two years, more than 300 stores, and 1,500 employees later, it was good old-fashioned hard work that cemented the longevity of that one great idea.

Pursuing the best opportunities

It might have been easier for a company like ours to stay small rather than face the risks of expansion. But small games only mean small successes. Vision steers evolution, and our vision dictated that we evolve into an organization that could respond effectively to the demands of the market. One way to do that is by avoiding expansion’s hidden trap: chasing after every option there is. A successful entrepreneur pursues only the very best opportunities to avoid exhausting themselves and their organizations.

So we chose our battles. From our flagship brand, Penshoppe, we branched out in the retail industry with our portfolio of brands, tailor-made for markets with unique, yet diverse voices. Oxygen is “gimmick wear” – fashion for young adults enjoying the novelty of their independence, relishing individuality and exuding sex appeal. Young professionals wear Memo -- our brand which offers casual yet stylish and premium work wear. ForMe was a breakthrough concept in brand marketing since it is the only local fashion brand that tailor-fits clothes to suit the different body types of women.

We established our presence not only economically but geographically, situating our boutiques and flagship stores in key cities all over the country and in mainland China. Decades since its birth, the company has now differentiated itself in the industry taking a very distinct character that is exclusively Golden ABC. Yet we still consider ourselves a growing business – one whose greatest assets are its people.

Values that work

Competition can be backbreaking, but values give Golden ABC its backbone. Because we aim to serve God and humanity above all else, we start each day with personal prayer time; with every week ending in a thanksgiving mass. To keep us grounded throughout the daily grind, we look to the core values that bind every single member of the organization. Entrepreneurial spirit, professionalism, service and integrity: These values are the anchors that keep us steady and focused in everything that we do.

We also value excellence in everything we do. At Golden ABC, there is no room for mediocrity. In all my years of managing the business, I’ve found that we must constantly challenge the usual way of doing things so that better and more efficient procedures and systems emerge. We pride ourselves on our ability to think out of the box.

Values guide the way we speak and act towards our target market, teenagers and young professionals. As a market leader, we are deeply aware of our influence on the Filipino youth. In the hyper-sensualized world of advertising on TV, the Internet, and billboards, we have stayed true to our stand that being wholesome is cool and that staying true to yourself does not mean following the trend. Of course, it would be a lot easier to use advertising’s tested formula that sexy will always sell. But by constantly challenging ourselves to advance our brands without compromising our values, we practice what we preach to our target market. And as the company’s track record of retail triumphs proves, the road less traveled is not mutually exclusive from the road to success.

There are many other things I could say about the continuing story of Golden ABC, which came from such humble beginnings. True, competition intensifies with every generation that passes. But it pays to stay true to your own vision, throughout the changes of the market and society. And in the end, the golden lesson I’ve learned in this business is to be committed to making a difference—not only in our own individual lives, but in the community and the country.