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Shin Watanabe, the Gatekeeper of Gentlemen's Clothing Volume 2, Issue 1 / Third Quarter 2018 A Quarterly Newsletter Advancing the Knowledge-base to Strengthen Asian Family Businesses by Asians for Asians SPECIAL FEATURE Shin Watanabe, The Gatekeeper of Gentlemen’s Clothing By Prof. Dr. Andrea Santiago वंश शास्त्र 4th Family Business Workshop You and Your Family Business: is a quarterly publication of the Basant and Sarala Birla Professorial Chair A Journey of Family Discovery in Asian Family Corporations, 3/F Eugenio Lopez Foundation Building, Asian Institute of Management, 123 Paseo De Roxas, Makati City, 18 – 19 October 2018 Philippines 1229 | ISSN # 2599-3798 The workshop will provide to family business members a journey of self- discovering to develop the skills, to strengthen and align business and family core EDITORIAL BOARD values, to manage conflict and create family business communication styles. Prof. Dr. Andrea L. Santiago Ana Carolina Varela Basant and Sarala Birla Professorial Chair Editor, Asian Institute of Management in Asian Family Corporations [email protected] 5th Breakfast Forum [email protected] Overcoming International Borders: CONTRIBUTORS Global Platforms of Family Businesses Kristine Gail Lobo | Asian Institute of Management 15 November 2018 Allanne Mae I. Tiongco | Asian Institute of Management As countries adapt to globalization and reduced trade barriers, family businesses LAYOUT & DESIGN are challenged to improve international competitiveness and reach out to markets Wilmart Palentinos | [email protected] beyond local borders. This forum will have family business leaders sharing their insights on globalization strategies as they pursued opportunities to export local Other photos in this newsletter were sourced via Pexels and Unsplash and are credited to their respective owners products, set-up international offices and branches, or establish international under various Creative Commons licenses unless otherwise specified. business partnerships. Further, they will discuss the challenges and solutions they deployed in managing operations in a different culture and environment. 8 For inquiries, please contact the BIRLA Team at [email protected]. About Basant and Sarala Birla From a mere surname, the name Birla has morphed Textiles. In 1959, he established the Indo Ethiopian Textiles Executive Vice Chairperson of Kesoram Industries), into a known global brand. The business has grown Shares Company, which was the first major venture by any to whom they passed on the Birla family values into a legacy heralded by the grit and determination Indian industrialist. Thus, the family business became one of honesty, dependability and hard work. that spans four generations and a strong foundation of India’s first truly multinational corporations with a wide based on values and strong business acumen. array of various business categories Apart from the business, Mr. Basant K. Birla and Volume 2, Issue 1 / Third Quarter 201 2, Volume Madam Sarala Birla are well-known for their ORIGINS PERSONAL LIFE community outreach initiatives and promotion of social causes. Mr. Basant K. Birla is the Chairman of On 9th July 1918, Mr. Ghanashyam Das Birla (1894- On 30th April of 1942, Mr. Basant Kumar Birla the Birla Education Trust, Shree Krishnarpan Charity 1983), a noted philanthropist, freedom fighter, “Padma married Madam Sarala (1923-2015), the daughter Trust, BK Birla Institute of Engineering & Technology Vibhusan” (the second highest Indian civilian honor) of freedom fighter Mr. Brij Lal Biyani. She came (BKBIET), and various educational trusts and institutes recipient, and one of the closest associates of Mahatma from a very emancipated family and was very well such as the Sangeet Kala Mandir and Birla Academy HASTRA Gandhi, established Birla Brothers and under its aegis educated. She studied at Fergusson College and of Art & Culture. Madam Sarala had pioneered girl S set up a jute brokerage firm and jute mills in West was an active sportsperson of repute especially in education and was actively involved in the running of Bengal, thus laying the foundation for the beginning of ‘Kho-kho’ and badminton. several schools in different parts of the country till the Birla industrial group. her demise. They established more than 30 leading The union of Mr. Basant Kumar Birla and Madam educational institutions that imparted education Mr. Basant Kumar Birla is the youngest son of Mr. GD Birla, Sarala Birla became a partnership that shaped the to more than 50,000 students in India and abroad. VANSH VANSH born on 16th February 1921. His journey into the world of dynamics of the BK Birla group. The foundation business started at the age of 15 in the offices of Birla Jute they laid, based on strong Asian family values, Today, while Mr. Basant Kumar Birla is the Chairman Mill, Kesoram Cotton Mills and Bharat Sugar Mill. In the enabled future generations to bring the Birla of the group; Mrs. Manjushree Khaitan as the Executive next two decades, he set up many companies including legacy to greater heights. Mr. Basant Kumar and Vice Chairperson of Kesoram Industries Ltd. manages 2 Bharat Air, which was later nationalized and merged with Madam Sarala raised three children; a son, Mr. the business affairs aided by a team of trusted Indian Airlines on 9th August 1953, Bharat Commerce Aditya Vikram Birla (1943-1995), AIM Governor professionals. She ably carries forward the BK Birla and Industries Ltd., Jay Shree Tea & Industries Ltd., (1991-1995) and founder of USD 41 Billion Aditya group mission of adding value to stakeholders namely and Century Enka Ltd. He acquired various companies Birla Group; and two daughters, Mrs. Jayashree customers, shareholders & society with integrity, including Manjushree Plantations Ltd. and Century Mohta and Mrs. Manjushree Khaitan (current commitment, zeal, seamlessness and speed. Now available at 8 EDITORIAL Volume 2, Issue 1 / Third Quarter 201 2, Volume Family Business – Our Home, Our Life HASTRA S By Prof. Dr. Andrea Santiago VANSH VANSH There are stories that show how difficult it is for some families to separate the family from the business and 3 for business leaders to let go despite changing conditions. Some researchers say that this can cause the downfall of a The best advise is always to reflect business while other researchers believe that the competitive upon one’s own identity and advantage of family businesses lie precisely in the degree of family embeddedness in the business. consider the realities of the family Especially for businesses that were started by a spouse or and the business. couple when their lives together began, the family business is not just a business, it is their way of life. This makes it difficult to separate the family from the business. In some Clearly, however, family businesses are more than a source cultures, families go through great lengths to ensure that the of a livelihood, even if it started that way. As businesses business stays with the family. Sometimes, they are willing to evolve, the business begins to symbolize the life of the entrust the business to non-blood relatives, other times, they founder. Thus, the heritage that is passed on from one retain ownership but leave the management to professionals. generation to another is not the physical structures; rather it is the relationships the founder has established with its Families who are in transition look for quick-fix solutions that customers. It is the promise that the family business will they can adopt. However, because each family is unique, those continue to serve its clientele in the same way it has done quick-fix solutions may not be appropriate for all types of so when the business first began. If it cannot do that, then families and all types of businesses. The best advise is always heritage becomes meaningless. to reflect upon one’s own identity and consider the realities of the family and the business. In this way, the various options We, at the Basant and Sarala Birla Professorial Chair in Asian even of that of letting go of the business, as Shin Watanabe Family Corporations, hope that your family treasures its realizes, becomes a possibility. heritage for years to come. 8 MAIN STORY Shin Watanabe, The Gatekeeper of Gentlemen’s Clothing By Prof. Dr. Andrea Santiago Volume 2, Issue 1 / Third Quarter 201 2, Volume “We have something that Amazon cannot provide our were being closed and buildings sold to fashion companies like customers – the personal touch.” Gucci and Chanel. Competition became very stiff. “When I took over, I had to shrink operations. Previously, our store was in the Shin Watanabe, grandson of Minoru Watanabe, founder of ground floor, and our house was on the higher floors. That could Ichibankan Tailor Company Ltd., sits confidently in his sitting no longer be. Today, our shop is so much smaller than it was HASTRA room. Composed and refined, he shares how he took over his before. I reduced the size and increased product quality. It was S family business and made it his own. intense,” Shin relayed. Ichibankan factories were closed as well as some branches. Instead, Shin preferred to maintain the Ginza “When I was growing up, Japan was in a bubble economy. It was store and maintain a select clientele. a crazy time,” Shin recalled. “I returned to Japan after I finished VANSH VANSH my Fashion Design course at Domus Academy in Milan. It was According to Shin, European fashion is surviving but it has to battle a new program at that time and had a wonderful curriculum. against fast fashion like Zara and the e-commerce businesses. The We were only 25 in the class and the class was composed of shop is the key to the success of their business. Shin shared, “If you 4 students from Italy, France, Spain, and even Malaysia. There go to a Gucci or Chanel building, there is a floor that has a gorgeous could be no more than three students from one curriculum.” space only for special customers.
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