Stores Specialists, Inc. (SSI), a wholly-owned subsidiary of SSI Group, Inc., has acquired 99.4 percent of Rustan Marketing Corp. (RMK), one of the Philippines’ largest wholesale distributors of renowned global brands.
The acquisition involves the purchase of 5.88 million shares of RMK at P39.44 each, totaling P232.1 million. This deal positions SSI for a significant transformation into a multi-channel distributor of international lifestyle brands, enabling the company to offer its brand partners distribution across a wide range of retail channels. These include specialty stores, third-party department stores, and supermarkets.
Founded in 1964, RMK has been instrumental in introducing global brands to the Philippine market, aiding their expansion into major cities nationwide. The company operates as a fully integrated, multi-channel wholesale distributor, with over 1,300 wholesale and retail outlets, in addition to a strong presence on all major e-commerce platforms.
RMK, owned by the Tantoco family, serves as the exclusive wholesale distributor for brands such as Samsonite, American Tourister, Tefal Cookware, Lacoste Fragrances, Maison Margiela Fragrances, Spanx, Nuxe Skincare, OPI Nail Polish, and Nine West Footwear. In 2024, RMK reported unaudited revenue of P1.085 billion, with earnings before interest, taxes, depreciation, and amortization (EBITDA) of P111.2 million and a net income of P44.2 million.
The acquisition was reviewed and approved by SSI’s Related Party Transactions Committee in line with the company’s corporate governance policies.
This move marks a strategic expansion for SSI, enhancing its ability to distribute international brands across various platforms and solidifying its position as a leading multi-channel distributor in the Philippines.
