AS IT TURNS 60, SM PAYS IT FORWARD
Through SM Foundation, it reaches out to communities with its educational, health and livelihood training programs
The humble shoe store that grew into a retail and multi-industry behemoth has been paying it forward as a gesture of gratitude to Filipinos’ patronage in the last 60 years.
Through SM Foundation, which was established in 1983, SM has a college scholarship program and has built school buildings around the Philippines.
Buildings have also been donated to La Salle College and the University of the Philippines (UP) at the Fort, through the Henry Sy Sr. Foundation, named for the SM founder. SM has also funded the construction of buildings in the UP College of Medicine and Immaculate Conception Academy, and has donated land to St. James in Calamba.
SM Foundation’s advocacies also include health through medical missions and health and wellness centers, as well as livelihood training programs aimed at making farmers self-sufficient, by arming them with knowledge in crop production.
The company has also undertaken environmental programs through SM Cares, by building green spaces in its malls, its trash-to-cash recycling, and disaster risk reduction programs.
It has also made going around its malls easier for persons with disabilities.
After the devastation of supertyphoon “Yolanda,” SM Cares undertook housing projects for victims in Bogo, Cebu, Iloilo and Leyte.
At the lighting of SM Mall of Asia’s iconic globe to launch SM’s 60th anniversary celebrations, SM Investments Corp. vice chair Tessie Sy-Coson said, “Being 60 years old can mean we are senior citizens. But instead, we are looking forward to the future.”
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 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.
Shoemart evolved into a department store in the 1970s, becoming SM. It
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 suc- cess, paving way for the socalled 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.
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, SM 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.
As it celebrates its 60th anniversary, SM looks forward to becoming a company of the future. It has 60 themed visual attractions and an exciting series of fun experiences and interactive activities for customers until October in SM malls nationwide.