The local history museum in the city of Rasskazovo was founded in 1974 as a community-based folk museum. Since the mid-18th century, the lives of most residents were closely tied to textile production, so special attention was given to exhibits related to this industry. They became a distinctive and attractive part of the museum's collection.

In 1982, the museum was renamed "The Museum of the History of Weaving and the Textile Industry of Rasskazovo." In 1999, it moved to an ancient two-story building from the 19th century, which belonged to merchant Ivan Nikolayevich Zheltov, the owner of a large leather production facility. The Zheltov family left a significant mark on the history of the city. The first representatives of this family appeared in Rasskazovo at the turn of the 18th and 19th centuries. Although little is known about them, it is believed that they were from the Nizhny Novgorod estates of Count Sheremetev. In 1863, the Zheltov brothers established a wool factory, which by 1896 had an annual turnover of 300,000 rubles. In keeping with the spirit of the times, the Zheltovs were actively involved in charity, opening a reception room at the factory and donating funds to maternity shelters and schools.

Today, the museum features permanent and temporary exhibitions. Special interest is drawn to displays dedicated to the everyday life of peasants and merchants, as well as church decor.