Along with success comes a reputation for wisdom.— Euripides
If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception, it is a prevailing attitude. — Colin Powell
On the occasion of the coming 90th birth-day of one of the Philippines’ legendary business pioneers — Rustan’s Group of Companies patriarch Ambassador Bienvenido Tantoco Sr. — on April 7, all of us, whether entrepreneurs or professionals, can learn much from his success secrets.
The Rustans business empire he has built up for 60 years is now being well managed by his six children — Bienvenido “Rico” Tantoco III, Zenaida “Nedy” Tantoco, Menchu T. Lopez, Marilou T. Pineda, Marilen T. Valbuena, Maritess T. Enriquez — and grandchildren.
Self-made billionaire, pioneer & ‘king of luxury retailing’
Apart from co-founding with his late wife Gliceria Tantoco a dynamic business empire, the mild-mannered and soft-spoken Ambassador Tantoco is also a philanthropist and a former distinguished diplomat who served as Philippine ambassador to the Vatican and to the Sovereign Military Orders of Saint John, Rhodes and Malta from 1983 to 1986.
Ambassador Tantoco said, “Rustan’s was always a leader, never a follower.”
Indeed, Rustan Commercial Corporation was established by him and his wife Glecy in a one-room shop at their home on San Marcelino Street in Manila 60 years ago, thus pioneering the concept of the luxury department store in the Philippines.
This self-made billionaire said, “Much has been said and written about Rustan’s modest and humble beginnings so that I don’t need to repeat all that now. Suffice it to say that my wife Glecy and I had a dream and we worked day and night together until we achieved that dream.”
Through sheer hard work, innovation, constantly adapting through the times and resilience, the family has nurtured and expanded their business enterprises through the decades, making them leaders in their respective fields. His grandchildren are now actively involved in the businesses, testament to his success in terms of management and leadership.
Late last year, Tantoco’s peers and competitors in the Philippine Retailers’ Association (PRA) honored him as the undisputed “Father of Luxury Retailing,” with the PRA President’s Award for his pioneering contributions to the local retail industry. Indeed, in a society with many successful retailers, Rustan’s is acknowledged even by its rivals for having introduced modern-day Filipino shoppers to new levels of beauty, quality and sophistication.
PRA president and Penshoppe boss Bernie Liu said during the awarding ceremony of Tantoco: “He, together with his wife, would travel the world and get the best of what it has to offer, and present them to the country’s lifestyle icons and the rest of us Filipinos who appreciate beauty and sophistication.”
When asked how he has led his family to build up Rustan’s as the leading luxury retail giant for over half a century, plus the Shopwise supermarket chain, the franchises of Starbucks, Marks & Spencer, Zara, Gap, Hermes, the Sta. Elena Golf Club and Sta. Elena Properties, etc., Ambassador Tantoco said, “Our quest for quality, excellence, and exclusivity has proven that, with these goals, one can endure and withstand the test of time.”
Grandson Reveals Ambassador Tantoco’s Success Secrets
This writer often tells business leaders that one true measure of the success of an entrepreneur is the quality of his heirs and heiresses in terms of work ethic, management prowess and moral values.
Ambassador Bienvenido Tantoco said that of all his accomplishments, he wants more to be remembered for raising a good family that works well together to build up the businesses. He is blessed with 21 grandchildren and 10 great-grandchildren.
Grandson Donnie Tantoco of Rustan’s Supercenter, Inc. said in our exclusive interview, “Our grandfather’s main philosophy in business is ‘Kung animado yung mga tao mo, mananalo ka na! (If your people are animated, you shall be a winner!)’ In the simplest terms, this means for as long as your employees are motivated, engaged and committed, you can’t lose — even if you are starting from scratch or coming from behind.”
Donnie added, “Great things start from small beginnings. Lolo always said business is a war; nothing of great and lasting value comes easy. The point of business is to compete to win in this war and not just to get by; you will win some battles and lose some. Every battle, whether you win or lose, will make you stronger. In fact, sometimes the best things that happen to you originate from the worst things that happen to you.”
The grandson continued to recall his grandpa’s teachings: “Every experience, good or bad in some way, is a gift and an opportunity to grow. We are in the people business, so we are fighting in this war, striving for excellence, and competing to win — the prize that we seek is the lifetime loyalty of our customers and employees. This is what the whole business is about and we must be the most competent in earning and retaining loyalty and malasakit. The rest will follow, including financial performance, business innovation, organizational development, and business longevity.”
Donnie Tantoco recalled his grandfather teaching them, “The loyalty of our customers and employees is the best foundation any company can hope to have in an increasingly cyclical and very volatile world.”
* * *
Feedback is welcome at willsoonflourish@gmail.com, follow WilsonLeeFlores at Twitter, or at Facebook.