SM Celebrates 60th Anniversary
SM is 60 Years Old
SM is now 60 years old! The chain of super malls launched its 60th Anniversary celebrations by first lighting up the iconic Mall of Asia globe. Then came a series of exciting 60 themed visual attractions, fun experiences, and interactive activities for its customers. These will all happen from May to October, 2018 in SM malls nationwide.
How SM Started
The SM story began in 1958. SM founder Henry Sy, Sr. opened the first Shoemart store in downtown Manila, introducing exciting new merchandising and retailing concepts. At that time, Mr. Sy thought that if he could sell a pair of shoes to every Filipino, he could become a successful man. That vision was so simple and yet so big at the same time.
In the 1960s, Shoemart expanded its shoe store chain and became one of the pioneers in the new urban centers in Makati and Cubao.
The following decade, Shoemart evolved into a department store. Becoming SM, it became synonymous with one-stop shopping excitement. SM then positioned itself for growth in the 1980s, expanding its department store chain and venturing in the supermarket and appliance business.
Eventually, 1985 saw the opening of the first SM shopping center, SM City North EDSA. It was a time of major political and economic crisis. Despite these national events, the mall was an instant success, paving way for the “malling” phenomenon in the Philippines. Malls became part of the Filipino lifestyle, places where families and friends could shop together, dine together, and have fun together in world class surroundings.
For his achievements in business, Mr. Sy has been honored as the Father of Philippine Retail by the Philippine Retailers Association.
The five pillars that make SM into what it is today.
Malls. At present, SM has close to a thousand retail stores. They already have 70 malls around the Philippines and another seven malls in China.
Real Estate. Through its property arm, SM Prime Holdings, SM has also become a leading developer of residential condominiums in Metro Manila.
SMX. Mr. Sy always believed in tourism as a catalyst, and with that, built destination malls like the SM Mall of Asia. Through SM Hotels and Conventions, the company now owns and operates world class hotels, a state of the art arena, convention and exhibition centers, and premier beach, and mountain resorts.
Banking. In the finance area, the acquisition of Banco de Oro in the 1980s enabled SM to provide better cash management services to its suppliers and retail banking services to its customers. Today, as the country’s largest bank in terms of resources, deposits, and loans, BDO has made finance inclusive for millions of Filipinos.
Charity. Through the SM Foundation, SM reaches out to different communities with its educational, health, and livelihood training programs. Meanwhile, SM Cares is the arm that has undertaken environmental programs by building green spaces in its malls, as well as sustainability efforts, trash to cash recycling, and disaster risk reduction programs. It has also make going around the malls easier for those with difficulties through PWD program.
And here in Bacolod, we are happy that we have SM City Bacolod.
Note: Ongoing exhibit – Gayak Filipiniana by Patis Tesoro