Alumnus honored for work in Asia
A USU alumnus has found his niche in the apparel-importing market in Asia.
Frank Yuan is president and CEO of not one, but three companies and is the co-founder of two banks and two insurance companies. Yuan was presented with the Professional Achievement Award at the Partners in Business Seminar yesterday.
This award is given “in recognition of individuals who achieve extraordinary success in their careers and demonstrate uncommon leadership in their community.” Since its beginnings in 1983, an average of five people have received the award each year, according to the plaque in the business building.
Yuan spoke to a group of business students in a retail management class yesterday morning, prior to the luncheon. He said he really understands retail because of his work in the apparel trade industry. While he is successful in this area now, he said he started out on a different route.
After receiving his bachelors in economics from Fu Jen University in Taipei, Taiwan, in 1970, Yuan said he decided to come to USU.
“I am happy I chose Utah State for my master’s degree (in accounting) from Taiwan,” Yuan said. “I learned so much, not only from the curriculum. I think the people here really taught me ethics.”
Plus Yuan met his wife here. While she is also from Taiwan, Yuan said they had classes together at USU. Upon his graduation from USU in 1973, Yuan moved to Los Angeles where he said he began buying and renting apartments. After obtaining more than 300 apartments, Yuan said he noticed an industry he wanted to get involved in: international trade of apparel. He has stayed in that industry since then, always finding something new and adapting to changes that come, he said.
“In the last 10 years I’ve focused more on Internet business and Asia,” Yuan said.
The Chinese aren’t always familiar with foreign brands, Yuan said, but they are interested in them. Asian people like to be their own boss and own their own businesses, Yuan said, and this is where he fits into the picture. After finding someone who is interested in opening a franchise, Yuan works with them to find a place in Asia where they can sell the apparel he provides. Not only does he give them the apparel to sell, but he also provides the decorations, signs, management skills and anything else they need to run the company. All the materials for the store are provided by the brand owner through Yuan, he said.
Yuan said he has 14 brands from across the world he works with to bring goods into Asia. In an effort to promote the goods as being foreign and having an appeal to the Asian people, Yuan said all the signs are in English and only Caucasian models are used for the pictures.
Yuan sells everything from children’s clothes to lingerie to teen and adult clothes and said he is looking into going into the sports bar market.
“I just like to be new, keep my heart young and my spirit,” Yuan said as to why he does so much.
Yuan’s biggest companies include IBMC China AG, Cyber Merchant Exchange Inc. and ASAP Global Sourcing Show.
-alison.baugh@aggiemail.usu.edu