TORONTO, ON, NOVEMBER 13, 2014 – EY has announced that Kathy Cheng of Redwood Classics Apparel has been named one of 13 winners of the 2014 class of EY Entrepreneurial Winning Women, a national competition and ongoing executive leadership program that identifies a select group of high-potential women entrepreneurs whose businesses show real potential to scale. Launched seven years ago, the Entrepreneurial Winning WomenTM program aims to increase the number of market-leading businesses run by women entrepreneurs.
Kathy Cheng is President of WS & Co., one of Canada's leading full-service apparel manufacturers, and the founder of its in-stock promotional apparel line, Redwood Classics. Her company has produced for renowned fashion retailers and designer brands both domestically and internationally.
"It is both an honour and a privilege to be named an EY Entrepreneurial Winning WomanTM alongside some of the world's most dynamic leaders," said Cheng. "The future of women in business is gaining momentum by the minute and I thank EY for considering me worthy of this movement."
According to an independent assessment by Babson College, the program is working: North American program participant companies' total 2013 revenue was 63% higher than their total revenues in the years before they joined the program. Individual participants average 20% revenue growth annually; in the second year of participation, however, their companies have been known to grow up to 50%. Winners also report increases in entrepreneurial confidence, growth goals, networks and media visibility, to name a few.
Past winners include: Jessica Herrin, founder and CEO of Stella & Dot; Alexa Van Tobel, founder and CEO of LearnVest.com; Lisa Stone, co-founder and CEO of BlogHer; Kara Goldin, founder and CEO of Hint; and Raegan Moya-Jones, founder and CEO of Aden + Anais.
"The Entrepreneurial Winning Women program has grown into a highly impactful platform that helps female entrepreneurs accelerate key corporate goals, in turn enabling them to grow rapidly," said Kerrie MacPherson, Principal and North American Entrepreneurial Winning Women Executive Sponsor, Ernst & Young LLP. "Kathy Cheng is an exceptional business leader with great potential. We are pleased to honor her as one of this year's winners."
The Entrepreneurial Winning Women program is conducted in collaboration with several organizations that encourage the development of women-owned businesses, including the Women Presidents’ Organization (WPO), the Women’s Business Enterprise National Council (WBENC), the National Association of Women Business Owners (NAWBO), The Committee of 200 (C200), Golden Seeds, the Kauffman Foundation, Babson College’s Center for Women’s Entrepreneurial Leadership and the US Hispanic Chamber of Commerce. For more information on the program, visit: www.ey.com/us/entrepreneurialwinningwomen.