Tantoco-led luxury retailer SSI marks sees record profit in 2023

The SSI Group, the Tantoco family’s specialty retailer operating international brands such as Balenciaga and Zara, said profits zoomed to a record P27.7 billion last year, a growth of 34 percent.

During the fourth quarter alone, net income hit an all-time high of P1.1 billion. 

This exceptional performance is credited to the group's strategic brand mix and robust consumer spending on international fashion and dining.

“I believe that the optimized expense base that we benefit from, coupled with the compelling brand portfolio we make available to consumers, will continue to drive growth and profitability in 2024,” he added.