021 – From $150 Million Debt Restructuring to Mastering Global Retail Distribution – with Jody Dharmawan

Former global leader of the Entrepreneurs Organisation, Jody Dharmawan was the President and Director of PT Winner Garment Manufacturing, in which he leads 1500 employees. He was also the director of the Lee-Cooper Indonesia Clothing Company which contained over one hundred outlets worldwide and manufactures over 500,000 jeans per year! Jody explains what it was like during the Asian Crisis in 1997 when Indonesia currencies depreciated sharply, experiencing drastic slowdowns in economic growth and loss of confidence by foreign investors. The effects of downward pressure on the rupiah by 800% lead to most Indonesian companies becoming insolvent and required restructuring. Between August 1997 and December 1998, rapid job losses saw unemployment rise in Indonesia from 4.3 million to 13.7 million people. Listen to how Jody explains his biggest challenges during this time and that having a peer to peer learning group helped him get past his fear.

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