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:
“All history becomes subjective; in other words there is properly no history, only biography.”
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““And now this is the way in which the history of your former life has reached my ears!” As he said this he held out in his hand the fatal letter.”
—Anthony Trollope (1815–1882)
“The history of any nation follows an undulatory course. In the trough of the wave we find more or less complete anarchy; but the crest is not more or less complete Utopia, but only, at best, a tolerably humane, partially free and fairly just society that invariably carries within itself the seeds of its own decadence.”
—Aldous Huxley (1894–1963)