A success story worth celebrating

A classic success story has been written and carved by SM in the country’s business landscape. Starting out as a small enterprise to becoming one of the largest conglomerates in the Philippines, the SM story has been an inspiration to several budding entrepreneurs.

As a lot of Filipinos already know, whether a businessperson or not, SM’s journey to success began with the sale of shoes. Founder Henry “Tatang” Sy, Sr. established a small shoe store called ShoeMart in Carriedo, Manila in 1958. ShoeMart then expanded as a department store in the 1970s, becoming known as SM. It grew further in 1985 with the opening of its first shopping center, SM City North EDSA. Over the years until at present in its 65^th year, SM maintained its name etched in the corporate scene and the minds of many Filipinos with its constant service and expansion.

While SM is mainly associated with shopping malls, the business extends to other segments of real estate and the banking industry. It also has investments in key sectors such as logistics and energy, among others.

Expansive development

SM’s chain of shopping malls has reached more than 80 establishments across the Philippines, with 24 malls in Metro Manila and 60 in the provinces. Many of these, such as SM Megamall, SM Mall of Asia (MOA), and SM Sta. Mesa (formerly SM Centerpoint), to name a few, have been at the top of mind for many when it comes to meeting with the family, friends, colleagues, or loved ones.

SM Prime Holdings, Inc., the conglomerate’s property arm, planned to open at least three malls this year, among which were SM City Bataan that opened last May and SM Center San Pedro in Laguna just this month.

SM Prime has been preparing to expand its presence in provincial areas, especially Northern Luzon, Visayas, and progressive cities in Mindanao.

“Our businesses are still operating in many highly underpenetrated sectors and we intend to serve Philippine communities in more regions nationwide,” SM Investments…

BusinessWorld

2023-10-19 21:00:04

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator


Read more from original source here…