For entrepreneur Reese Fernandez-Ruiz, a major turning
point in her life was when she was named Young Laureate for the Environment at
the prestigious Rolex Awards for Enterprise in 2010. The award brought
international recognition to her efforts to help impoverished women in the
Payatas dumpsite in Quezon City through the social enterprise Rags2Riches, a
fashion and design house that empowers underprivileged community artisans.
Using a business model based on collaboration and
inclusivity, Fernandez-Ruiz sought to break down barriers between the
underprivileged community and the market. She adopted a marketing strategy that
took cottage industry to the next level.
More important, her efforts transformed the lives of the
women in Payatas, who provide Rags2Riches its merchandise. From living lives of
abject poverty, the women now live with pride and dignity, equipped with
entrepreneurial and life skills to achieve their ambitions.
Rags2Riches enabled Fernandez-Ruiz to achieve two goals:
Create sustainable and eco-ethical products by upcycling waste like rags,
scraps of fabrics, etc. into bags and other fashion accessories, designed for
the high-end market; and empower women entrepreneurs in Payatas by eliminating
the middleman so they can sell directly to retailers. By partnering with top
designers like Rajo Laurel and Amina Aranaz, the Payatas women were able to
level up their creations to world-class standards.
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