AWARDS
Nominees 2007 | 2006 Awards  | 2005 Awards | 2004 Awards  | 2003 Awards |  Photo Gallery  |  Criteria for Candidates

Back to 2003 Nominees List

Mr Charles Wang Owner of Charles & Keith

Interviewer
Name: Felina Tan
Interviewee
Name: Mr Charles Wang
Company Address -
Email charleswang@charleskeith.com
Date of Interview 24 Feb 2003, 2.30pm - 4.30pm

From a modest footwear store in Ang Mo Kio, Mr Charles has opened 13 stores in Singapore and franchises in Southeast Asia. In his late twenties, he has created a marketable local brand in Singapore. In the eyes of many young women, Charles & Keith has provided fashionable shoes at easy on the pocket prices. Being an ambitious person, Mr Charles is discontented with the current result. Not only he wants to maintain the high standard services as well as the quality of his shoes, he targets to attain another greater level of standard, providing him with the momentum to improve constantly.

After his 'O' levels, Mr Charles began to learn business skills by helping out in his parents' exiguous shop in the neighbourhood. From selecting of raw materials to attending to customers in the shops, he learnt in serving customers as well as the range of designs of shoes offered in the market. Mr Charles and his second brother, Mr Keith weren't academically inclined. After the completion of National Service, Mr Keith took over his place to assist in the shop, while Mr Charles saw an opportunity in the local market. He recognized that imported shoes were pricey and unbefitting for Asians' feet. With their savings of $100,000 as capital, both brothers began to start their own business.

With their goal of integrating into the footwear market, Mr Charles and Mr Keith went to trade exhibitions in foreign countries to observe and learn from the finest European shoemakers. In addition, they went to their own factory in Malaysia to superintend their employees. Throughout the years, both brothers have been seeking ways to improve the standard of their products. Mr Charles stressed:" We have been travelling to countries such as Italy, Germany and England to be inspired in ways shoes are designed including materials used as well as the various modes of shoe making." From the quality time spent analyzing other companies' models; they are able to learn from people's experiences such as the reasons why some can do better in business.

Technology has played a crucial role in Charles and Keith. At the end of each day, the total sales for that day will be tallied from all stores in Singapore. Each complaint from the customers will be taken into momentous consideration and the staffs will observe which type of shoes are more in style with the customers. Thus from there, they will try to improve the materials or the designs of the shoes. The company has a group of young and vibrant staffs. Being young and inexperienced is definitely not to their disadvantage. With their earnest sincerities, they are able to foster trust with customers.

Mr Charles believes in starting early in business. He believes that youth is power. Moreover, industrious and mutual trusts between suppliers are imperative to successful business. Mr Charles plans to have sales in overseas as his focal point as overseas markets have greater sales. He sees himself taking a slower pace of life at 35. He will retire from the company, paving way for others to operate the business while he will go overseas in search for more promising business opportunity.

Interview With Mr Charles Wang

How shall I describe your business?
Charles & Keith is a Singapore-based ladies footwear retailer..

How did you get started in this business?
As a teenager, I worked in my parents' shop after my 'O' Level. I was later enlisted to National Service. My second brother, Keith, took over my place. After National Service, I wanted to do my own business. Since Keith has talent in designing shoes, I took this as an opportunity.

What business were your parents in?
Previously, they were in shoes as well as garment business.

Does your wife work?
She does. She is currently working in an MNC company.

Why did you choose this location?
Well, Olivine Building was owned by my mentor. So, I had no problem in renting this place as my office

How do you spend your spare time? Any hobbies?
I listen to instrumental Latin music.

Do you have any partners?
Yes, I have one partner. He is my brother, Keith.

Tell me some stories that would give me an idea of the hardships involved in starting a business from scratch. What are some of the things you have had to overcome to succeed?
Eat the humble pie, accept feedback and constantly seeking new ways to improve on our product and services.

Tell me about some of the best times in your business.
I enjoy my work.

What about the worst times?
Nil.

Ever felt like giving up before, how many times, when does it happen and why?
Never.

Did you have the capital to start the business or did you borrow it from someone to get started?
Keith and I had savings of S$100,000 to start up this business.

Who would you say are your competitors?
In Singapore, there are very few competitors. That is why we have moved to overseas market for greater opportunities. We visited foreign countries such as Italy, France to learn more about the making of shoes as well as the latest shoe fashion.

Have you ever thought of banding together with one of them to start a joint venture?
No.

When did you decide that you would strike out on your own instead of working for someone else?
After my National Service, I saw an opportunity.

Are there any points in your business life that you experienced something so significant e.g. war, racial riot, economic crisis, new competition, shift in market behavior and trends that affect or influence your life and business that make you change the way you do business and thinking? Nil.

Do you have children in business?
I have no children at the moment.

What are your own values in doing business and what do you like to pass down to your children?
I would advise them to do something that they enjoy. If they were to choose to do business, they should be hardworking. They should not be afraid of failing in busi

Student Interviewer's Personal Comment

 

 

 

 

 

 

 

Copy 2006 - Spirit Of Enterprise - All Rights Reserved