AS IT EYES IPO WITH CAUTION Homegrown fashion firm prioritizes organic growth

Cebu-based Golden ABC, the parent of fashion labels including Penshoppe, Oxygen, Regatta, Memo, ForMe, and newly launched Bocu, remains privately held but is weighing a potential IPO (Initial Public Offering) only if it adds strategic value.

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Vice President for Strategy and Operations Bryan Liu said in an interview that while a public listing remains a theoretical option, it is not a current priority.

"If there's a benefit—to our ability to serve customers—then maybe we will consider it. But for now, it's not on the top of our list," he said.

Golden ABC has long behaved as a public company in all but structure.

The company's CEO Bernie Liu, who stepped into the executive chairman role in January 2025 under a two-year succession plan, has ensured careful governance and professionalization even as the firm remains privately held Golden ABC Inc.; As Penshoppe's new Vice-President, Brandon Liu is shifting his focus from daily operations to strategic growth—covering new territory entry, omnichannel expansion, and evolving brand identity.