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 disadvantage of men not knowing the past is that they do not know the present. History is a hill or high point of vantage, from which alone men see the town in which they live or the age in which they are living.”
—Gilbert Keith Chesterton (1874–1936)
“In history an additional result is commonly produced by human actions beyond that which they aim at and obtain—that which they immediately recognize and desire. They gratify their own interest; but something further is thereby accomplished, latent in the actions in question, though not present to their consciousness, and not included in their design.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“A man will not need to study history to find out what is best for his own culture.”
—Henry David Thoreau (1817–1862)