Rustan's

Rustan's
Corporation
Industry Retail
Founded Makati, 1952
Founder Bienvenido Tantoco
Gliceria Tantoco
Headquarters Metro Manila and Cebu, Philippines
Products Clothing, footwear, bedding, furniture, jewelry, cosmetics, housewares, supermarket
Revenue Decrease$3,822 million (FY2009)
IncreaseUS$1,863 million(FY2007)
IncreaseUS$140 million (FY2007)
Number of employees
 30,000 (Nationwide) (2009)
Parent Rustan Commercial Corporation
Website www.rustans.com.ph
www.rustansfresh.com

Rustan's is a Philippine chain of upmarket department stores owned by the Rustan Group of Companies. The brand is also applied to a chain of supermarkets (Rustan's Supermarkets) established by the Rustan Group in 1970 and owned by it until 2017.[1]

Rustan's the flagship brand of the Rustan Group of Companies.

History

Rustan's Department Store was established in 1951 by spouses, Bienvenido Tantoco and Gliceria Rustia Tantoco.[2] Rustan's Department Store began as a set of goods displayed for sale in the couple's living room. Eventually, the Tantocos expanded from a small gift shop into a full-fledged department store.

Rustan's Department Store is considered as the Philippines most prestigious retailer, carrying many of the world’s most famous upscale names and signature brands, among them, Cartier, Mikimoto, Tiffany, Ermenegildo Zegna, Nina Ricci, Alfred Dunhill, Sonia Rykiel, Estee Lauder. Rustan's was the first in the country's retail industry to introduce a customer loyalty program, "Frequent Shoppers Plus".

Rustan's Supermarket

Rustan's Supermarkets was established in 1970.[3] In 1998, Shopwise hypermarket was launched under Rustan Supercenters, Inc. (RSI).[4] In 2006, the Rustan's supermarket chain (Rustan Supermarket, Inc.) was consolidated under RSI.[5]

In 2012, the Dairy Farm Group acquired 50% interest in RSI.[6] By 2017, the Dairy Farm Group acquired full ownership of RSI.[7][8]

On March 23, 2018, the Dairy Farm Group sold RSI to Robinsons Retail Holdings, Inc. (RRHI) through a stock swap. After the sale, the Dairy Farm Group will own 18.25% of RRHI.[9] At the time of the sale, RSI operated Rustan's Supermarket, Marketplace by Rustan's, Shopwise, Shopwise Express and Wellcome (Philippines).[10]

On April 11, 2018, Zenaida R. Tantoco, chairperson and CEO of the Rustan Group of Companies clarified that the Rustan's trademark and trade name was "never a part of the business transaction between RRHI and Dairy Farm Group, legally or otherwise.” Tantoco stated that Rustan Commercial Corporation (RCC) is the sole owner of the Rustan's trademark and trade name and the use by any third party requires the written consent of RCC. The statement clarified that after the buy-in of the Dairy Farm Group into RSI in 2012, RSI was granted use of the Rustan's trademark and trade name for a "limited period of five years commencing from the year 2012 and was terminated upon our written notice to the Dairy Farm Group on April 3, 2018.”[11][12] The following day, RRHI issued a statement acknowledging the trademark license arrangement between RCC and RSI and should the trademark license of Rustan's be "validly terminated by RCC" such stores would be rebranded with "other premium brand alternatives."[13]

The sale of RSI to RRHI was approved by the Philippine Competition Commission on August 17, 2018.[14]

References

  1. ↑ "Robinsons Retail Acquires Rustan's Supermarkets, Shopwise in Php18-B Share-Swap Deal". Entrepreneur Philippines. 23 March 2018. Retrieved 23 March 2018.
  2. ↑ Lee Flores, Wilson (3 April 2011). "Success secrets of Rustan's empire patriarch, Bienvenido Tantoco Sr". The Philippine Star. Retrieved 24 March 2018.
  3. ↑ "Who We Are". Rustan's Fresh website. Retrieved 24 March 2018.
  4. ↑ "About Us". Shopwise website. Retrieved 15 April 2018.
  5. ↑ "About Rustan". Rustan Super Centers Inc. and Royal Duty free shops Inc. Employee Credit Cooperative website. Retrieved 15 April 2018.
  6. ↑ Dumlao, Doris (8 May 2012). "Tantocos sell half of Rustan Supercenters' stake". Philippine Daily Inquirer. Retrieved 24 March 2018.
  7. ↑ Mercurio, Richmond (22 June 2015). "Rustan's pursues moderate expansion". The Philippine Star. Retrieved 24 March 2018.
  8. ↑ Inside Retail Asia (15 November 2017). "Flat quarter for Dairy Farm sales". Retrieved 24 March 2018.
  9. ↑ Dumlao-Abadilla, Doris (23 March 2018). "Gokongwei buying Rustan grocery chain". Philippine Daily Inquirer. Retrieved 24 March 2018.
  10. ↑ Cordero, Ted (23 March 2018). "Robinsons to buy 100% of Rustan's, Shopwise, Wellcome supermarkets". GMA News. Retrieved 24 March 2018.
  11. ↑ "Rustan's name not part of RRHI deal". Philippine Daily Inquirer. 12 April 2018. Retrieved 12 April 2018.
  12. ↑ Gonzales, Iris (12 April 2018). "Tantocos nix use of Rustan's brand in Robinsons' takeover". The Philippine Star. Retrieved 12 April 2018.
  13. ↑ Villamor-Ilano, Marites (13 April 2018). "Robinsons to re-brand Rustan's grovery chain". SunStar. Retrieved 13 April 2018.
  14. ↑ "Antitrust body OKs Robinsons Retail's acquisition of Rustan Supercenter shares". ABS-CBN News. 17 August 2018. Retrieved 29 August 2018.
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