Tantoco-led retail giant eyeing SRP for next department store

CEBU, Philippines - Rustan’s Commercial Corporation is looking at the South Road Properties as the possible location for its next department store in Cebu.

Rustan’s chairman and chief executive officer Zenaida R. Tantoco yesterday announced the luxury retail giant's interest to invest more in Cebu, following the official grand opening of its expanded department store at the 17,500 square meter retail space in Ayala Center Cebu’s New Wing.

The Tantoco family led by patriarch Ambassador Bienvenido Tantoco Sr., was in Cebu yesterday to personally grace the grand opening of the store, which had its soft opening December of last year.

Company president Donnie V. Tantoco acknowledged the distinct shopping habit of the Cebuanos which is profoundly discerning and has that taste of subtle luxury, the main reason why Rustan's department store had been growing since it opened in Cebu in 1981.

The Cebu store, which is the 6th department store concept of the company in the Philippines, houses 81 premium and luxury brands

While the company is considering another store in Cebu for its department store arm, Zenaida Tantoco said there are no immediate plans to enter the Mindanao market, like Davao or Cagayan de Oro.

Yesterday's  Rustan's Department Store opening was also graced by Ayala Group  honcho Fernando Zobel de Ayala. — Ehda M. Dagooc (FREEMAN)