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Entrepreneurship Management Project

Presented to : Prof. Anju Dusseja

Presented by:

NAMES ROLL NOS.

Shyam Palan 82

Krupa Vagal 115

Heena Tonde 113

Pritam Devghare 19

Forum Parmar 50

Manoj Sahu PG 12

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RUBY ASHRAF 

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 ABOUT RUBY ASHRAF

Grew up in Delhi, father was with Ministry of Defense CEO of Precious Formals and Dazzling Formals ($10 million

Co.) Quit medicine and did Master¶s in Science from DU IIM-A grad (PGP- 1983)

First job with BHEL as an HR Married professor Javed Ashraf of Rice University in 1987  Always the best dressed girl in college Handles the designing and marketing activities at Precious

Formals Studied the retail stores to understand the fashion trends

Since designing was her forte she could do well in thebusiness

 Also margins were high in evening wear. Believes markets change, buyers change so one should

change with it too

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 About Precious Formalswww.preciousformals.com

Founded in 1990. Retails in 2000 stores

Specially designed for the Prom, Pageant and Evening wear markets

Range between $400 - $800

Cheaper range µGlam Gurlz¶ sells at $200

µPosh Precious¶ sells over $600

Recipient of the Southwestern Bridal and Formal Wear manufacturer of the Year award for many consecutive years

Dallas Fashion Award and Atlanta DIVA Award

 About 65 employees in the peak season

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Her Spouse- JAVED ASHRAF

Professor at the Rice University

Left his job to assist his wife

He is involved with the business but does not wish to share thelimelight

Handles the IT, Finances, Accounts and photoshoots as aphotographer 

Company¶s strong & silent backbone

Who¶s to say Who¶s lucky«

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Hindrances Ruby Faced

Stagnant growth

 Affect to the business after 9/11

Issues with merchandise inventorystocking up

Change in trends

State of the US, China and Indianeconomy

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Changing with times- Strategies used by Ruby

There wasn¶t much information available on the industry butthere were case studies on everything else but nothing onapparel so she did her own case study.

Started selling few dresses at stores; gained confidence

Cater to Europe, Middle East etc

Started with formals for older, mature people through retailstores for Christmas

But soon Christmas became casual so she explored Prom.

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Changing with times- Strategies used by Ruby cntd

Shifted to boutiques

Started Bridal wear 

Moved to prom dresses and eveningwear 

Used customer insights and madedresses suitable for most ages

Special jackets

Fan Page

 Appointing young girls who¶vegraduated from fashion school assales team

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Entrepreneurship Qualities of Ruby

Sense of self awareness

 Ability to take tough decisions

Considered ok to dream & achieve beyondyour dreams

Make an action plan and turn it into a reality

No one particular formula for being successful

Learn from your failure and take up thechallenges to be successful

Modest

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Ruby¶s Mantras

Dil me chaah, to niklegi raah« Life has its own plan, you just have to flow & grow with it

You start with a strategy but change it along the way as per changing times

Success is when minds meet & there is Congruence of 

Goals both Personaly & Professionally Business, Family & Fun should be fused together.

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THANK YOU

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