Cebu Daily News / Enterprise

http://globalnation.inquirer.net/cebudailynews/enterprise/view_article.php?article_id=213501

Cebu apparel firm to open more stores Cebu Daily News Posted date: July 02, 2009 A CEBU-GROWN retail company is increasing the number of stores for its newly-acquired apparel brand and its direct selling arm in a bid to expand its roster of products to the rest of the country. Bernie Liu, chief executive officer of Golden ABC Inc., said the company would have 10 branches of Regatta, its newly acquired brand, by the end of 2009. The branches would be located in Cebu, Davao and Metro Manila. The firm's direct selling arm, Red Logo, will also be opening two more branches in Cebu and Batangas. There are three existing Red Logo stores in Metro Manila. “Consumer spending is challenging but we continue to grow. Retailers are trying to reposition their product mix,” he told reporters. Regatta is the first acquisition of Golden ABC Inc., which operates 400 stores of Penshoppe, Oxygen, Forme and Memo nationwide. Regatta was established by Lizzie Zobel and Mia Borromeo in 1989 and was sold to Melissa Dragon-Florendo, Annette Gozon Abrogar, Carissa Cruz, Tricia Tarriela and Michelle Castillo in 2003. The concept was to build a brand for preppy chic apparel. “We decided to buy Regatta because it's a good brand with rich heritage and good following. Mia (Florendo) was looking of passing on the brand to a credible institution.” Liu said growth prospect for Red Logo continues to be positive. To date, he said there are 20,000 active member dealers of Red Logo nationwide. “Direct selling has been there whether in good times or bad times. For my company, it's an addition to what I am doing,” he said. Liu said Red Logo has four brands—Fuel, Agenda, Truth and Hush. To establish its credibility, guest brands (Penshoppe, Forme, Memo, Oxygen)are also introduced in the product portfolio. The Cebu office of Red Logo is located at the General Maxilom Avenue and will soft open on Saturday. /Reporter Cris Evert B. Lato