Filipinos’ favorite shopping mall SM celebrates its 60th Anniversary with a series of exciting themed attractions, fun experiences, and interactive activities for its customers in SM malls nationwide from May to October.
The celebrations kicked off last week with the lighting of the iconic Mall of Asia globe which was attended by SM executives, businessmen, celebrities, and other personalities.
The SM story began in 1958 when founder Henry Sy, Sr. opened the first Shoemart store in downtown Manila, introducing exciting new merchandising and retailing concepts. At that time, 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 ‘70s, Shoemart evolved into a department store, becoming SM, which has been synonymous with the one-stop shopping experience. SM positioned itself for growth in the 1980s, expanding its department store chain and venturing into the supermarket and appliance business.
The year 1985 saw the opening of the first SM shopping center, SM City North Edsa. It was 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 where families and friends could shop together, dine together, and have fun together.
Today, SM has close to a thousand retail stores, 70 malls in the Philippines, and seven malls in China.
Through its property arm, SM Prime Holdings, it has also become a leading developer of residential condominiums in Metro Manila. 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.
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