Tantocos priming for retail rebound

The Tantoco family is consolidating its position in the retail sector through a strategic vertical integration of its SSI Group by acquiring Rustan Marketing Corp. (RMK).

A share swap worth P232 million will integrate RMK’s established network with SSI’s distribution network of elite global brands, many of which represent iconic international names in fashion, beauty and lifestyle.

The expanded platform seeks to reach Filipino consumers who are becoming increasingly affluent.

This includes access to a diverse array of retail avenues such as specialty boutiques, department stores, supermarkets and the rapidly growing e-commerce space.

For the Tantoco family, whose legacy in retail spans decades, the acquisition reinforces their status as a group with a keen eye for market expansion.

RMK’s expertise in wholesale distribution complements SSI’s strength in premium retail, creating a synergy that could streamline operations and thus boost profitability.

A retail analyst said the move is calculated to capitalize on the growing consumer market, driven by a rising middle class and increasing digital adoption.

The move underscores the Tantoco family’s commitment to shaping the future of retail in the country, blending tradition with innovation.

Dirty, rotten trapos

Politicians have sunk so low they exploited the suicide of two persons in Guimba, Nueva Ecija for political gain.

The families claim a local politician spun their loved ones’ deaths for political gain. The National Bureau of Investigation (NBI), which conducted a thorough probe, debunked the candidate’s claim that the suicides were linked to the declining price of palay.

The politically charged yarn went that at least three farmers in Nueva Ecija took their own lives due to the plummeting prices of palay. Department of Agriculture (DA) Assistant Secretary Arnel de Mesa confirmed their investigation found no connection between the deaths and the price of palay.

“There were indeed deaths, but they were not caused by low palay prices. This is why the DA asked the NBI to conduct a deeper probe. Based on the preliminary report, these incidents were unrelated to palay prices,” De Mesa said.

The source of the story was a member of a farmers partylist group who claimed in a 17 March interview that at least three Nueva Ecija farmers had died by suicide due to financial difficulties brought about by the drop in palay farmgate prices. According to him, palay prices had fallen from P17 per kilo to as low as P14 to P15 in some areas.

NBI director Jaime Santiago said two individuals had indeed died by suicide in Guimba, Nueva Ecija but neither of them was a farmer.

“The first victim took his life due to illness, while the second committed suicide after being abandoned by his spouse,” Santiago said. “There was no connection to financial losses or palay prices.”

Santiago said the families of the deceased were angered by how a particular candidate capitalized on their tragedies for campaign purposes.

“The families are upset that their loved ones’ deaths are being used as political propaganda. They are frustrated that a candidate is exploiting their grief to gain public sympathy,” he said.

While the families have not signaled an intent to take legal action, Santiago said the NBI was looking into the possibility. “We are studying this angle because it is causing unnecessary panic among the public,” he added.