FRESH out of school, a young Nash Benjamin joined the family business straight after completing his 'O' levels in December 1967.

My elder brothers and sisters were all involved in the optical and retail clothing businesses, so when my brother Frank asked me if I wanted to join his business, it was the natural thing to do, explained Mr Benjamin, who is now CEO of fashion and lifestyle group FJ Benjamin Holdings.

And since then, he hasn't looked back.

"I was fortunate as it gave me an immediate exposure to sales, meeting people and developing my confidence. It was about learning everything from bottom up. The business then was a sole proprietorship with five employees," he added.

Mr Benjamin played a significant role in the 1980s in shaping the company by setting up various offices in the Asia-Pacific region as well as bringing in established foreign brands such as GUESS?, Gap and Banana Republic.

"There was no pressure in the first two years but after that, like in any other job, one had to push oneself. Looking back, I was fortunate to be able to fit in at the right time as I love the business and enjoy what I do," he recalled.

Because the family is close-knit and share the same values, it made doing business that much easier. Family members are shareholders as well and therefore have a vested interest to do what is in the best interest of the company and shareholders, he said.

Mr Benjamin defines an entrepreneur as one who has the uncanny ability to spot opportunities. "He has a vision of how things should be and executes it well," he added.

Hence, it is no great surprise that he was selected as Entrepreneur of the Year in the Lifestyle category by Ernst & Young.

Like most retailers in the region, the Asian financial crisis in the late 90s and the economic downturn resulting from the Sars epidemic in the early 2000s proved to be very turbulent times.

As customer spending began to drop significantly, sales lagged behind costs, especially in markets such as Hong Kong, Indonesia and Australia. The situation was effectively worsened by the currency depreciation in some of the company's key markets, and exacerbated by skyrocketing interest rates.

A slew of measures aimed at mitigating both costs and risks followed, said Mr Benjamin. "We took some immediate hard decisions, like cutting costs, rationalising our brand portfolio, closing down shops which were not performing, reduction of debt through warrant issue, and overall, managing our risks better."

Since then, the business has seen substantial growth. Market capitalisation stood at $75 million in 2004 and is now over $500 million as of 2007.

FJ Benjamin net profit for FY2007 stood at $21.5 million while turnover for the full year to June 30 was $257.6 million on the back of strong retail sales particularly from brands like Guess? and Gap.

The group plans to open 47 stores - mainly in Indonesia and Malaysia - in FY2008, bringing its total to 184.

Going forward, it is looking to grow organically both through house label RAOUL and its portfolio of international brands. It is also aiming to procure a brand that will give it both growth and a strong regional presence.

Ultimately, it all boils down to passion, Mr Benjamin stressed. "Ensuring that we are always relevant to our consumers in everything we do. Having the best management is key in our business and we pride ourselves in having passionate and committed people."

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