In 1979, Albert & Myrna Yao, an enterprising couple whose background were from the shoe industry and commodities trading, respectively, founded RICHWELL TRADING CORPORATION. In that same year the company was able to acquire property along Quezon Avenue, Quezon City to house its office and warehouse. Richwell began its operation as a trading company in 1980. It was a franchise distributor of Goodyear Tires and Prestone Break Fluid. In two years time, the company became one of the biggest distributor of Goodyear Tires in the Philippines.
In July of 1982, Richwell was awarded the exclusive nationwide distributorship of Mattel Toys, an American company that manufactured the world famous Barbie Doll. The initial entry into the toy business was not easy; at that time, toys were considered luxury items and importation was difficult. Struggling through product availability and market acceptance, Richwell was slowly able to penetrate the market successfully and was able to introduce good marketing strategies that were welcomed by the trade. Two years after, Richwell also acquired contract from Grosby K.P. Footwear, Inc., to become its sole distributor of Dunlop shoes. Throughout the country. The background of Albert Yao in the shoes business definitely complemented this new venture. In 1986, the company became the exclusive distributor of Pigeon Baby Products, a Japanese firm that makes high quality baby products. Later that year, Richwell was awarded distributorship of Viemaster Toys, later acquired by TycoToys. TycoToys was acquired by Mattel, Inc. in 1996 and Richwell continues to handle the distribution of its products, which include Matchbox, Viewmaster, Sesame St. infant and Pre-school lines.
In 1986, Richwell successfully maintained the marketability of its products despite the instability of the local political and economic conditions during EDSA Revolution. Licensing of the Barbie trademark was introduced in 1989 with the Barbie Boutique Character Shop concept, first introduced in Shoemart Makati. In 1989, Richwell received the license to manufacture Barbie Dolls through its sister company, Richwell Philippines, Inc. Located in a one-hectare manufacturing site in Libis, Quezon City. Richphil also exports porcelain dolls for Ashton Drake Galleries. Because of its track record In creating a market for its existing brands, Richwell, from 1989 onwards, continued to acquire new brands for exclusive distribution in the country. This includes American brands such as Hotwheels, Shelcore, Cosco Juvenile, MegaBloks, etc., as well as Hong Kong brands such as Video Technology (Vtech) Products. In 1999, it was awarded distributorship of Fisher Price. Recognizing the growing popularity of television and cartoon characters, Richwell has been very active in the licensing business. It is the master licensor for Barbie in the Philippines and has built Barbie to be the one of the most recognized and popular brands in the market. It also holds the license for Disney and Winnie The Pooh plush toys, and Sesame St. toys and plush. Through another sister company, Euro Play Distributor Company Inc., it holds the license for Teletubbies plush toys.
Given its expertise in the children?????s market, Richwell has diversified successfully into shoes, mainly children and teens?????. It develops and distributes the brands Barbie, Disney, Sesame St., Buster Brown, and Looney Tunes. Given its ability to set right pricing for good quality shoes, Richwell currently holds the biggest share in infant and children?????s branded shoes. As a distributor, licensing agent and licensed manufacturer, Richwell now employs 500 people, about half of which comprise its growing sales force. Its distribution channels continue to increase as it acquires new brands to complement its existing tires, toys shoe, infant and toiletries lines. Their channel includes department stores, supermarkets, direct selling and major corporate accounts nationwide.
Through the years, Richwell Trading Corporation has established superior nationwide distribution capabilities with its quality products, effective marketing campaigns, and well-trained sales force.. Its strength lies not only in its people, its relationships with customers and suppliers, but also in product merchandising and in the specialization of its people in the products they sell. Its management team is results-oriented and it continues to upgrade its technology to meet growing and ever changing market needs. Warehousing capability keeps expanding to serve customer needs and ensure customer satisfaction. Richwell was also the first in its industry to hold trade presentations for customers since 1984 in order to intoduce new products, explain marketing strategies and maintain good relationships with them.
With an average groth of 25% each year, Richwell trading Corporation?????s revenues have grown through the years. With the economy moving forward, it is forecasting substantial growth as it continues to improve its sourcing, distribution and marketing capabilities. From its small beginnings in 1980, Richwell has diversified interests in tires, toys, baby products, and shoes and has become the leader in its industry, and with strong management team, solid finacial capabilities and focused product and marketing strategies, it will continue to do so in the coming years.
RICHWELL TRADING CORPORATION
|Company Name:||RICHWELL TRADING CORPORATION|
|Company Website URL:||http://richwelltrading.yocal.ph|