Stay Hungry Stay Foolish

by,

Rashmi Bhansal

MILLION DOLLARS
SEAMSTRESS
Submitted To:
Mrs. Bhoomi Patel
Submitted By:
Avni Vakharia (89)
Prachi Rajan (92)
Malpa Chauhan (105)

BACKGROUND OF RUBY
Ruby grew up in Delhi and from an early age she was exposed to
business, meetings, clients.
She had heightened sense of self awareness. And the ability to take
tough decisions.
She quit medical school and got a bachelors and masters in science
from Delhi University.
She got an admission in IIM Ahmedabad which groomed her very
drastically in 1983
Ruby always had the title Best Dressed Girl of the batch.

Conti.
Ruby's first job out of campus was in the HR department of BHEL.
Ruby got married

with Javed who was a professor in Rice University in

Houston and shifted to America in 1987

An old and enduring love for clothes took her in a different direction.
Ruby wore a dress designed by her own on X-Mas party of collage and it was
appraised by every one.

How PRECIOUS FORMALS started ?

Ruby her self started creating case studies and searching for information
regarding to clothing industry in all over America .
As per ruby, At the end of the day, you should feel that I have given my 120%
to it. And the day should not be wasted.
Ruby chose to focus on evening wear as the margins were high in evening
wear and design and demand were high.
Rubys lucky break came when she designed a dress for the wife of her
husbands boss, and a photograph of it appeared in Rich and Famous
magazine.

Conti.
This gave her the drive to turn her passion into a business.
She started designing her own clothes and for her friends with no formal training
She went to school in Delhi to learn the art of dressmaking and then spent a
year visiting retailers across the country to build up her knowledge of market
demands and retailer needs.
She got her husbands company for opening the factory in Delhi but not in
America as the hand work on material is needed which is not done in America.
The first thing in business is, you have to sell yourself. And people should trust
you. Do your work sincerely

PRECIOUS FORMALS

A $10 million Company Precious

Formals was founded in 1990 by
Ruby Ashraf

About PRECIOUS FORMALS

It has 10,000sq ft showroom in Atlanta and does its ramp shows there.
Employees are graduated from fashion school and Some are from Ralph
Lauren.
Every garment is checked and then they are Shipped to USA
It was consistently introduced fresh new trends to the formalwear industry
in the USA.
PF styles have made an impact on prom, pageant, and evening-wear
markets by combining traditional designs with imaginative and creative
appeal.
PF garments are sold in 2000 retail stores and is also sold in Europe.

Factors that helped RUBY to be Successful

She found a lot of weaknesses in her as a designer, after that she realized that
you should always look around and future trends in fashion world.
Javed resigned his job to help Ruby in her business.
Her husband turned his hobby of photography into business to help in issuing
catalogue for her dresses.
He handles IT and FINANCE as well as ACCOUNTS of the company.
As a couple and backbone of the company, they both discuss the problems
regarding the business and solve it out.

DOWN PHASES
Things get difficult when stock in inventory are unsold.
Money get stuck in inventory.
Causing problems in cash flows.
Treads and state of economy keeps on changing.
Grows has slowed down recently due to internal as well as external factor
Firms value has stuck to $10m since 9/11.

Conti.
In 1992, Manufacturing was shifted to China from India not only because of
cost advantage but as a designer she realized that there were many limitation
while manufacturing in India.
Factory in India were not so mechanized
Finishing were not perfect in India
In China, there are excellent pattern maker
Technology is better in China
Pre-trained and Skilled employees

AWARDS FOR PRECIOUS FORMALS

The Dallas Fashion award and the Atlanta DIVA award.
Contestants in popular pageants, including the Miss
America, Miss USA, and Miss Teen USA competitions,
have adorned PF designs
Photos of dresses on the Cover page of many Magzine.

THANK
YOU!!!!