London, Utah-based Rustico (PPAI 260879, S5) has gone out of business.
The supplier of premium handcrafted leather goods has announced on its website that it “must reluctantly close its doors and cease all operations at this time.”
“Over the past few years, we’ve fought hard to try and make it through a large financial struggle and unfortunately haven’t succeeded. We’re truly heartbroken to share this news. We want to express our deepest gratitude to all of you who have loyally supported us over the past 22-plus years. Thank you for believing in Rustico,” the company said in a statement.
The Industry’s Loss
In October, Rustico reportedly stopped taking orders from distributors through the end of the holiday season.
Since the company has made its decision, industry members have taken to social media to lament the closure. “So sad to hear this from Rustico…a great supplier with a fantastic product,” posted Walter Kurt, MAS, president of Houston-based Three K Consultants (PPAI 260216, D2).
CEO Isaac Childs co-founded Rustico with friends following a backpacking trip through Europe in 1998.
- According to the company website, Childs wanted more durable journals to write about his travels in.
- The supplier also offered portfolios, belts, wallets, wristbands and travel tags.
Rustico has urged distributors interested in its products to purchase them through online retailers listed on its website. “Get them quick because when they sell out, they’re gone,” the company said.
