Sm Brief History and Their Major Problem
HISTORY
In 1950’s Henry Sy established a shoe store in Crriedo, it is the central business district of Manila. His aggressive and adamant strategy help him gain large profit within a few years and later expand his business in Quiapo to become a fully functioning department store named “Shoe mart”, specializing in sales of shoes, it is where the store originally was. And the shoe mart later called as “SM” and become commonly known as that by the local people.
In 1982, the SM Carriedo in Quiapo near Manila LRT Yellow Line was demolished.
In 1985, the first SM Supermall was opened and it is the SM North Edsa and it started the Philippine malling phenomenon. Sy observed the malling hobby of Filipinos and opted to make every SM Supermall like an amusement parks. All SM Supermalls contain at least one or more amusement facilities, such as cinemas, bowling alleys, convention centers and game arcades. Located in several cities and areas in Metro Manila, as well as major provincial cities, each SM is easily accessible and situated by places of public interest (churches, schools, major roads and highways, etc.).
In 1979, SM opened their first department store outside Manila in IloIlo City (SM Delgado) and it was re-launched in 2004.
In 1991, the first Ice Skating rink in the Philippines was opened in SM Megamall.
As of 2006, SM Prime Holdings is embarking on an aggressive expansion program within the next five years. In preparation for this expansion, SM Prime Holdings, Inc. has amassed a total land bank of 96.6 hectares in 10 strategic locations. Included are attractive properties in provinces where urbanization is steadily underway, such as Cabanatuan, Pangasinan and Bulacan. In 2006, SM opened the SM Mall of Asia. This is SM Prime Holdings' most expensive project to date. The SM group has engaged in other retail endeavors through other SM related companies such as, among others: Watsons Personal Care Stores, Inc., a joint-venture with Hutchison-Whampoa Ltd. of Hong Kong;
In 1950’s Henry Sy established a shoe store in Crriedo, it is the central business district of Manila. His aggressive and adamant strategy help him gain large profit within a few years and later expand his business in Quiapo to become a fully functioning department store named “Shoe mart”, specializing in sales of shoes, it is where the store originally was. And the shoe mart later called as “SM” and become commonly known as that by the local people.
In 1982, the SM Carriedo in Quiapo near Manila LRT Yellow Line was demolished.
In 1985, the first SM Supermall was opened and it is the SM North Edsa and it started the Philippine malling phenomenon. Sy observed the malling hobby of Filipinos and opted to make every SM Supermall like an amusement parks. All SM Supermalls contain at least one or more amusement facilities, such as cinemas, bowling alleys, convention centers and game arcades. Located in several cities and areas in Metro Manila, as well as major provincial cities, each SM is easily accessible and situated by places of public interest (churches, schools, major roads and highways, etc.).
In 1979, SM opened their first department store outside Manila in IloIlo City (SM Delgado) and it was re-launched in 2004.
In 1991, the first Ice Skating rink in the Philippines was opened in SM Megamall.
As of 2006, SM Prime Holdings is embarking on an aggressive expansion program within the next five years. In preparation for this expansion, SM Prime Holdings, Inc. has amassed a total land bank of 96.6 hectares in 10 strategic locations. Included are attractive properties in provinces where urbanization is steadily underway, such as Cabanatuan, Pangasinan and Bulacan. In 2006, SM opened the SM Mall of Asia. This is SM Prime Holdings' most expensive project to date. The SM group has engaged in other retail endeavors through other SM related companies such as, among others: Watsons Personal Care Stores, Inc., a joint-venture with Hutchison-Whampoa Ltd. of Hong Kong;