What:  The passing away of an iconic Filipino entrepreneur

Why it is important: Mr. Tancoco is well-known in the country for having enabled international luxury brands to enter the market in the 1950’s

Bienvenido Tancoco Sr, founder of Rustan Group in the Philippines, passed away this week. Tancoco is famous for having introduced many luxury brands to the Philippines in the 50’s, such as Yves Saint Laurent and Christian Dior, remaining an operator of these brands for a long time. Mr. Tancoco also served as the ambassador to the Vatican from 1983 to 1986.

Rustan’s is composed, among others, of 5 department stores in the Philippines as well as Stores Specialists, a franchise operator for foreign brands.

Benny Tancoco