ABOUT MY STORY, MY SM
In celebration of its 60th Anniversary, SM is launching its My Story, My SM series featuring 60 lives touched by 60 years of SM. With its roots in retailing, SM has over the years been part of the lives of millions of Filipinos – customers, business partners, employees – each with a wonderful story to tell.
There are stories of cherished childhood memories of shopping with their families at SM, as well as recollections of working with SM during its early days and watching it grow. Equally inspiring are success stories from businessmen who started small, and are now well-loved Filipino brands. We can also see how SM has become part of the communities it serves through its advocacy based programs. And there are many more stories to be told.
The SM story began in 1958 when founder Henry Sy, Sr. opened the first Shoemart store in downtown Manila, introducing new merchandising and retail concepts. At that time, Mr. Sy, who has been honored as the Father of Philippine Retail by the Philippine Retailers Association, thought that if he could sell a pair of shoes to every Filipino, he could be a successful man.
In the 1960s, Shoemart expanded its shoe store chain, and became one of the pioneers in the new urban centers in Makati and Cubao.
In the seventies, SM evolved into a department store, becoming SM, which has become synonymous with one-stop shopping excitement. SM positioned itself for growth in the 1980s, expanding its department store chain and venturing into the supermarket and appliance business.
1985 saw the opening of the first shopping center, SM City North EDSA during a time of a major political and economic crisis. But the mall was an instant success, paving way for the so-called malling phenomenon in the Philippines. Malls became part of the Filipino lifestyle, places were families and friends could shop together, dine together, and have fun together in world class surroundings.
Today, SM has close to a thousand retail stores and 70 malls in the Philippines, and 7 malls in China.
Through its property arm, SM Prime Holdings, SM has also become a leading developer of residential condominiums in Metro Manila, where residents could live like a star at affordable prices. 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.
SM’s main bank, BDO is the country’s largest bank in terms of resources, deposits, and loans.
Through SM Foundation, SM reaches out to communities with its educational, health, and livelihood training programs aimed at making farmers self-sufficient.
As it celebrates its 60th Anniversary, SM looks forward to becoming a company of the future.