Bienvenido R Tantoco Sr, co-founder of the Philippine luxury retailer Rustan Group of Companies, has died.
The entrepreneur’s family describes him as a loving father to his grandsons and that he “lives his best life and reached the age of 100”.
Tantoco pioneered luxury retail in the Philippines with his wife Gliceria Rustia-Tantoco in 1952, with their first store opening in San Marcelino Street in Manila. The store brought labels like Yves Saint Laurent, Christian Dior, and other international brands not yet available in the market.
This earned Tantoco the moniker “the father of luxury retail in the Philippines”.
The entrepreneur also served as Philippine ambassador to the Vatican in 1983 before resigning from his post in 1986 after the People Power Revolution.
Today, Rustan’s has five major department stores in the Philippines with a portfolio of international brands ranging from apparel, watches, beauty and personal care, luggage, footwear, and home items.
The company’s subsidiaries also include Stores Specialists Incorporated, Rustan Coffee, Adora, Santa Elena Realty, and Royal Duty-Free Stores.