History
In 1958, Sy's first company, Shoemart (also known as SM), started out as an ordinary shoe store in Carriedo, Manila. Initially, Henry Sy tried to focus on planning and buying big supplies of shoes in the U.S., but his plans began to accelerate as he transformed his ordinary shoe store into a fully air-conditioned department store.
Sy set up a second company, SM Department Store Inc, to begin selling through department stores. He devised the Shoemart sign as SM, which became one of the most recognizable and universal brands in the Philippines. In 1978 Sy began buying supermarkets at the northern end of EDSA in Quezon City. As he built his first mall, SM City North EDSA, by 1994, his companies were listed in the Philippine Stock Exchange, SM Prime Holdings Inc. By 2005, the SM Investments was inaugurated.
Read more about this topic: SM Investments Corporation
Famous quotes containing the word history:
“The custard is setting; meanwhile
I not only have my own history to worry about
But am forced to fret over insufficient details related to large
Unfinished concepts that can never bring themselves to the point
Of being, with or without my help, if any were forthcoming.”
—John Ashbery (b. 1927)
“The greatest honor history can bestow is that of peacemaker.”
—Richard M. Nixon (1913–1995)