Philippines’ Rustan’s Co-founder Bienvenido Tantoco, Sr. passes
Since its founding, the retailer has opened department stores in five major locations.
Rustan's co-founder, Bienvenido “Benny” Tantoco, Sr., passed away on 6 July in Makati City, the company announced through its social media post.
In 1952, Tantoco and his wife Gliceria Rustia-Tantoco brought back products from their trips abroad to show to friends in their home, but as more people visited, the couple opened their first store in Old Manila's San Marcelino Street in the Philippines, according to the company’s website.
Over six decades later, the shop evolved, Rustan Group of Companies, named after a combination of the couple's surnames, Rustia and Tantoco. Rustan's has opened its department store in five major locations, launched several boutique stores, and has licensed more than 2,000 international brands to the company.
“The management and employees wish to express their heartfelt sympathy to his bereaved children, grandchildren, great-grandchildren, great-great-grandchild, and other loved ones, and request the pious readers to join us in prayer for his eternal rest,” the company said.