SSI Remains On Top of the Luxury Game with New Openings in Greenbelt
It’s an age-old story of success due to hard work, fortitude, and faith in God. In the 1950s, husband and wife Bienvenido Tantoco Sr. and Gliceria “Glecy” Rustia-Tantoco started their retail empire by selling wares in their living room. They dreamt of bringing quality wares to every Filipino. Generations later, their grandson Anton Huang sits at the helm of the country’s largest luxury, specialty, and lifestyle retailer, the SSI Group.
Established in the 1980s, the SSI Group under the Rustan's Group of Companies leads the specialty retail market, with over 96 brands and more than 555 stores. The pioneer in curating fashion for the Filipino consumer, the Group continues to elevate the luxury goods market, which is expected to increase globally from US$349.1 billion in 2022 to US$419 billion in 2027, at a CAGR of 3.7%. Revenue in luxury goods in the Philippines amounts to US$1,290.00m this year. In its annual report for 2021, SSI's revenues are in the multimillions, the lion's share of the luxury goods market.
The Group's performance during the first half of 2022 is a testament to the company's vision, expertise, discipline, financial know-how, and a fantastic reputation for service. The SSI Group reached a milestone, driven by significant increases in 2nd quarter sales, gross profit margins and net income, with a 42% increase versus the net income during the same period of 2019.
The first brand SSI brought to the Philippines was United Colors of Benetton. Over the years came Marks & Spencer, Salvatore Ferragamo, and Lacoste. Bally, Kate Spade, Marc Jacobs, and other renowned quality brands opened in the early 2000s. Expansions and more store openings were SSI’s hallmark in the late 2000s.
In 2022, with the likes of Hermès, Tod’s, Bottega Veneta, and Balenciaga under its belt, SSI remains the top purveyor of luxury goods in the country. It continues to expand, with Loewe already open in Greenbelt 3.
The recent opening of the Loewe store in Greenbelt 3 coincides with its pre-Fall 2022 campaign. Photographed by international photographer Juergen Teller, the campaign includes known personalities, including Anthony Hopkins, Alewya, Kaia Gerber, Maya Nakanishi, and Lynda Benglis. Lensed in arresting spaces worldwide, the campaign espouses the sense of humor and direct gaze that Juergen Teller is famous for. A modern, stylish and humorous collection of merchandise will be on-hand.
Jimmy Choo also opened in Greenbelt 3, focusing on its Core Collection, which was first launched last year. The Core Collection was inspired by the brand's famous designs, including the Pearl, Crystal, and JC Monogram. The Pearl is given a new twist with the introduction of a signature fuchsia in satin platforms and pumps and handbags with pearl encrusted shoulder straps.
This month, the flagship branch of Zegna will open in Greenbelt 3. Zegna's newly rebranded visual identity: our road, takes its inspiration from mountains that cross into Oasi Zegna, a free-access natural territory in Piedmont in northern Italy. “I keep looking at the world through the Zegna lens. The reality we live in today requires adaptability; it asks us all to be fluid. Translating this idea into clothing means building a language of shapes and textures that grows and consolidates over time, matching the needs of the moment..”, says Alessandro Sartori, Zegna's Artistic Director. The clothes are, therefore, a mix of oppositions: functional and individual, comfortable yet not conformist, creating a line that ranges from life indoors to the great outdoors. Definitively, the path of innovation and evolution is affirmed as the only one worth taking.
Also opening in Greenbelt 3 in October is Roger Vivier, the renowned Parisian luxury shoe brand known worldwide and loved by many Filipino socialites. Roger Vivier, labeled "the Fabergé of footwear," studied sculpture at the Paris School of Fine Arts. He abandoned his studies to make shoes, many of which were adorned with jewels and inspired by theatre. Roger Vivier the brand presents collections often set in lush, out-of-this-world scenescapes with live, avant-garde entertainment. Their shoes, however, have evolved into classics, with the 'Belle Vivier' pump worn by those who have classy and exquisite taste. Their Viv' Run sneakers have become a favorite among young and old consumers. Roger Vivier is expected to become a hit with Manila's stylish set, an exciting venture generating significant buzz for SSI.
Hermès, sturdy and successful as ever, transformed and expanded in Greenbelt 3 in July, reaffirming its relationship of over a decade with the SSI Group. The boutique's design uses natural materials, and the sunshine-infused color palette underscores the maison's architectural codes. This new flagship branch has doubled in size and includes the Hermès beauty universe on the first floor. Silk, ready-to-wear collections, and shoes are also housed on the first floor, along with a leather goods area and an alcove displaying watches and jewelry. The second floor showcases the collections for the home, including furniture and art de vivre. There is also a selection of bespoke objects, including bicycles and leather Mahjong sets.
Meanwhile, in Greenbelt 4, SSI's—and the globe's—uber-popular brand, Prada, has been renovated. Its Fall Winter 2022 collection doesn't disappoint. Skirts are made with leather, lace, silk, and wool. Tank tops are logoed and stylishly simple. Graphic satchels and chunky-heeled shoes are some highlights of the collection, along with bags with extended zippers.
Also in Greenbelt 4, Bottega Veneta continues to display its classic handbags, which are cherished worldwide for their constantly updated designs. Matthieu Blazy, the brand's Creative Director, couldn't have described the label better. "Bottega Veneta is, in essence, pragmatic because it is a leather goods company. Because it specializes in bags, it is about movement, of going somewhere; there is fundamentally an idea of craft in motion. It is style over fashion in its timelessness. That is part of its quiet power."
Burberry in Greenbelt 4 offers a Fall-Winter 2022 collection inspired by refurbished classics lined up with more contemporary looks. Building upon the house’s codes, the Fall Winter campaign is a study in identities. The classic women’s trench is recreated playfully as a voluminous strapless gown with signature details, while waxed cotton coats and field jackets are shown alongside vintage-inspired lace corset tops. For menswear, a hooded duffle coat is reconstructed with exaggerated leather straps and trims. High-waisted trousers are layered over polo shirts. Lastly, the popular Lola bag, which is confident while remaining playful and poised, is represented in several styles, from signature designs to more modern shapes.
Givenchy Greenbelt 4 also continues to showcase its iconic designs. It retains its combination of American and Parisian cultures in its collections, with a duality at its core. The Fall-Winter collection elevates the formal in a reverse manner, making it feasible for every day. Silhouettes are equally easeful and monumental, ornamental and practical, and layered and direct.
Tod’s offers updated looks while reaffirming its relationship with elegance. The current Spring-Summer collection 2022 mixes things up, from its T Timeless loafers and ankle boots having a heightened platform while ladylike pointy-toed shoes come with kitten heels.
Cartier in Greenbelt 4 continues to entice customers with updated pieces while offering timeless classic watches and jewelry. For those who want something a bit more special, take a seat and delight in designs you may not be as familiar with–the less iconic but no less beautiful.
Salvatore Ferragamo, also in Greenbelt 4, remains one of SSI's most successful brands, and among the labels it has a strong history and relationship with. Its Fall-Winter 2022 collection includes soft bucket bags featuring the signature Gancini closure and a studded base. A new design in a half-moon shape includes a leather-clad chain, while the shoes include unisex retro running styles. Moccasins and hikers feature volumised proportions in tactile calfskin.
And finally, in Greenbelt 5, SSI proudly showcases what some say is now the world’s most creative brand, Balenciaga. For the hardcore fashion lovers out there, Balenciaga offers its famous Trash Pouch, inspired by a garbage bag.
Balenciaga’s Fall-Winter 2022 collection was presented in a makeshift snowstorm and referenced the dismal times of war in the world today. Stretch dresses and bodysuits were center field, and the classic jacket came in leather puffer, bomber, denim, and track designs. The Crush Bag was shown in a soft box shape, held by one or two handles on opposite edges, while the Swing Bag was made of multiple layers, held by a looping chain strap. Purses are made from pairs of Cagole or Rodeo boots.
As the SSI Group continues to shape and define the landscape of fashion and luxury in the Philippines, expect it to flourish even more in the next few years. The Specialist, an at-home concierge service that allows SSI customers to shop its range of brands through personal shoppers and specialists, is also part of its services. And as Huang stated in an interview, with SSI's increasing number of brands on its website Trunc.ph and multiple payment platforms made available, it's also a growing digital enterprise. We will see even more of that in the future.
What was once a little home-based shop hasn’t yet reached its peak. Expect more from the SSI Group in the years to come.