Before he joined the family business, Francisco Elizalde Jnr, who goes by the nickname ‘Patxi,’ spent four years working in San Miguel Corporation’s agribusiness division, specifically in seafood exportation. This, coupled with his degree in agriculture economics and entrepreneurship from the University of Vermont, prepared him to lead ELRO Commercial and Industrial Corporation, an investment holding company engaged primarily in the sugar industry through its agribusiness group; and in fashion and footwear retail through its consumer business group.

The company’s retail business is best known for bringing in the sandals and flip-flops of Ipanema, Grendha, Rider, Anacapri, and Ginga.

Sugarcanes and flip-flops don’t have much in common as businesses, but that diversity is a testament to the entrepreneurial proclivities of Elizalde Jnr, who has been managing director of ELRO since 1994, and president and CEO of the retail business since 2009. He’s always on the lookout for new business opportunities, which is likely why ELRO has expanded to include businesses in real estate development and even vending machines. Elizalde Jnr is also a director of Roxaco Land Corporation and Club Punta Fuego, among others.