BY HANNAH M. MURALLA, Special Features Assistant Editor
A shoemaker steps up
SINCE THE LIBERALIZATION of the shoe industry, imported and cheaper footwear have given locally-made shoes a run for their money. When the Asian financial crisis struck in 1997, times became worse for local shoemakers, driving many to stop operations. However, a resilient few have refused to bow out to foreign competition, like Figlia, a Marikina-bred shoe label, that until now remains tough as old boots.
Figlia, which means “daughter” in Latin, was built in 1986 by Joey Enriquez, who comes from a family of shoemakers. His father, Ceferino Enriquez, was the artisan behind Meg’s, a shoe brand popular in the 1950s.
Then a 26-year old idealistic shoemaker, Mr. Enriquez set-up Figlia Ladies Fashion Footwear with some basic machinery he inherited, minimal capital and his father’s existing suppliers who were willing to give him credit. “All I had was some courage to make it on my own and some innate creativity, which I think I got from my father,” he said.
Soon, Figlia found its way in the country’s leading chain of malls. Encouraged by the warm response to his shoes, Mr. Enriquez started thinking about expanding the business. But just when he was about to add more branches, the financial crisis hit the region, which not only thwarted his expansion program but forced Mr. Enriquez to lay-off employees and eventually close the shoe factory entirely. “My financial resources were limited. I was hit hard by the Asian crisis as interest rates skyrocketed and funds suddenly became difficult to come by,” he recalled.
Suddenly idle, he flew to New York and took up a course to further his shoemaking skills at the Parson’s School of Design. Returning to the Philippines in 1998, he found a partner in Chan Kok Bin, the businessman behind shoe labels like Celine and Traffic, who infused capital into the ailing shoe brand and put Mr. Enriquez back in business.
Giving up his brainchild had been difficult, but Mr. Enriquez saw the benefits of the acquisition. “[Figlia was] able to broaden its local distribution network to encompass all market segments. I was able to focus on my strength as a designer and concentrate on product development and marketing,” he said.
Joey Enriquez with business partner Chan Kok BinSince its relaunch, Figlia has positioned itself as a mid-market ladies fashion shoe label in the country. The merger has also allowed Mr. Enriquez, now vice president of Mr. Chan’s Charter International, Inc., to launch new shoe labels such as M. Nicole, Figlia Couture, Figliarina, and Shubizz.
But just over a decade since the Asian crisis, Mr. Enriquez is again faced with another slump. The current downturn has resulted in weaker demand for Philippine-made products abroad and shoe exports, in particular, have declined substanstially. However, armed with lessons from 1997, Mr. Enriquez is more optimistic about overcoming the present crisis.
“We take a long-term perspective in our expansion and we project that the economy would have recovered two to three years from now,” he said, adding, “With this financial crisis comes opportunities, too. We are looking more closely on our organization and analyzing how we can improve on operations, production and quality control. Through the years we have been prudent in our buying patterns and as a fashion company, we have invested more on product research and development.”
Despite the ongoing financial slowdown, Mr. Enriquez shared that Figlia and its sister brands have been performing better than last year. “We have experienced all changes the shoe industry tackled in the past 54 years. It is for the love of making shoes that we are still here. I am fortunate that I share this passion with my business partners.”
http://entreprenews.com.ph/main.php?id=081009.feature
A shoemaker steps up
SINCE THE LIBERALIZATION of the shoe industry, imported and cheaper footwear have given locally-made shoes a run for their money. When the Asian financial crisis struck in 1997, times became worse for local shoemakers, driving many to stop operations. However, a resilient few have refused to bow out to foreign competition, like Figlia, a Marikina-bred shoe label, that until now remains tough as old boots.
Figlia, which means “daughter” in Latin, was built in 1986 by Joey Enriquez, who comes from a family of shoemakers. His father, Ceferino Enriquez, was the artisan behind Meg’s, a shoe brand popular in the 1950s.Then a 26-year old idealistic shoemaker, Mr. Enriquez set-up Figlia Ladies Fashion Footwear with some basic machinery he inherited, minimal capital and his father’s existing suppliers who were willing to give him credit. “All I had was some courage to make it on my own and some innate creativity, which I think I got from my father,” he said.
Soon, Figlia found its way in the country’s leading chain of malls. Encouraged by the warm response to his shoes, Mr. Enriquez started thinking about expanding the business. But just when he was about to add more branches, the financial crisis hit the region, which not only thwarted his expansion program but forced Mr. Enriquez to lay-off employees and eventually close the shoe factory entirely. “My financial resources were limited. I was hit hard by the Asian crisis as interest rates skyrocketed and funds suddenly became difficult to come by,” he recalled.
Suddenly idle, he flew to New York and took up a course to further his shoemaking skills at the Parson’s School of Design. Returning to the Philippines in 1998, he found a partner in Chan Kok Bin, the businessman behind shoe labels like Celine and Traffic, who infused capital into the ailing shoe brand and put Mr. Enriquez back in business.
Giving up his brainchild had been difficult, but Mr. Enriquez saw the benefits of the acquisition. “[Figlia was] able to broaden its local distribution network to encompass all market segments. I was able to focus on my strength as a designer and concentrate on product development and marketing,” he said.
Joey Enriquez with business partner Chan Kok BinSince its relaunch, Figlia has positioned itself as a mid-market ladies fashion shoe label in the country. The merger has also allowed Mr. Enriquez, now vice president of Mr. Chan’s Charter International, Inc., to launch new shoe labels such as M. Nicole, Figlia Couture, Figliarina, and Shubizz.But just over a decade since the Asian crisis, Mr. Enriquez is again faced with another slump. The current downturn has resulted in weaker demand for Philippine-made products abroad and shoe exports, in particular, have declined substanstially. However, armed with lessons from 1997, Mr. Enriquez is more optimistic about overcoming the present crisis.
“We take a long-term perspective in our expansion and we project that the economy would have recovered two to three years from now,” he said, adding, “With this financial crisis comes opportunities, too. We are looking more closely on our organization and analyzing how we can improve on operations, production and quality control. Through the years we have been prudent in our buying patterns and as a fashion company, we have invested more on product research and development.”
Despite the ongoing financial slowdown, Mr. Enriquez shared that Figlia and its sister brands have been performing better than last year. “We have experienced all changes the shoe industry tackled in the past 54 years. It is for the love of making shoes that we are still here. I am fortunate that I share this passion with my business partners.”
http://entreprenews.com.ph/main.php?id=081009.feature
