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Tag: makati

  • Philippine Family Income Reaches 411,350 Pesos as Regional Wealth Gap Widens

    Philippine Family Income Reaches 411,350 Pesos as Regional Wealth Gap Widens

    Average annual family income in the Philippines climbed to 411,350 pesos in 2025, according to preliminary data from the Philippine Statistics Authority’s latest Family Income and Expenditure Survey.

    That nationwide figure works out to roughly 34,300 pesos a month, but earnings remain heavily skewed toward Metro Manila and industrial Luzon.

    Makati posted the highest average income among highly urbanized cities at 796,990 pesos per year, or about 66,400 pesos monthly. That is nearly double the national average and 2.5 times higher than Zamboanga City, which ranked lowest among major urban centers at 309,610 pesos. The next four top-earning cities all sit within Metro Manila: San Juan at 735,960 pesos, Parañaque at 711,310 pesos, Mandaluyong at 676,130 pesos, and Quezon City at 648,150 pesos.

    Metro Manila and Northern Luzon Lead

    Only three administrative regions surpassed the national average in 2025. The National Capital Region led with an average annual family income of 574,370 pesos, followed by Calabarzon at 526,070 pesos and Central Luzon at 447,310 pesos. At the bottom, the Bangsamoro Autonomous Region in Muslim Mindanao recorded 246,050 pesos, trailing Zamboanga Peninsula at 286,340 pesos and Soccsksargen at 292,820 pesos.

    Provincial data shows an even wider spread. Ilocos Norte topped all provinces with an average family income of 619,240 pesos, followed by Batanes, Cavite, Rizal, and Batangas. The bottom five provinces were all located in Mindanao, with Maguindanao del Sur recording just 177,750 pesos.

    Ilocos Norte expanded its household income by nearly 70 per cent between 2021 and 2025, rising from 364,800 pesos to 619,240 pesos. Remittances and business proceeds drove that surge. Overseas cash receipts accounted for 20.2 per cent of provincial family earnings, compared to an 8.5 per cent share nationally, while salaries contributed 39.8 per cent against a national average of 54.6 per cent.

    Uneven Growth Across Island Groups

    Retailers sizing up consumer demand outside Manila face sharply different spending trajectories. While high-income enclaves command basket size, secondary provinces are posting faster percentage gains. Cagayan Valley delivered the fastest regional increase between 2023 and 2025, expanding 25 per cent to 388,220 pesos, while Samar recorded a 54.4 per cent provincial jump to 357,340 pesos.

    Contraction hit other pockets. Sultan Kudarat saw average family income drop 8.2 per cent between 2023 and 2025 to 269,610 pesos. Income composition also split along regional lines: wage labor dominated every region except BARMM, where entrepreneurial activity generated 43.8 per cent of total household revenue.

    The statistics agency will publish the final 2025 expenditure tables and poverty threshold estimates in its complete survey release.

  • SM Home Revolutionizes Retail with Innovative Store Concept in Makati Flagship Overhaul

    SM Home Revolutionizes Retail with Innovative Store Concept in Makati Flagship Overhaul

    SM Home, the popular home and living subsidiary of Philippine retail giant SM, is set to unveil its freshly redesigned Makati flagship store this week. This debut also marks the commencement of a wider overhaul of SM Home’s retail format.

    Innovation in Store Design

    The Makati branch is the pioneer location to be revamped under SM Home’s novel framework, with plans to apply the same blueprint to SM Home Aura and SM Home Megamall stores in the near future.

    The redesigned stores feature a meticulously reconfigured layout, segmenting the store into dedicated zones for kitchen, dining, living, bedroom, bathroom, storage, laundry, cleaning, and a gift registry. This restructure aims to offer a streamlined, efficient shopping experience for customers.

    Beyond Visual Appeal

    Janice Yang, Business Unit Head at SM Home, emphasized that the modifications extend beyond mere aesthetic enhancements. These changes include thorough product curation, brand identity revamp, and a comprehensive transformation of the overall in-store experience.

    The innovative concept keenly blends core household essentials with more “aspirational products”. This fusion allows customers to make everyday purchases and more significant, higher-value investments within a single retail environment.

    Commitment to Customer Satisfaction

    Yang added, “We are rebuilding SM Home, starting with Makati, because Filipinos deserve a home store that is built for real life.” This statement resonates with SM Home’s commitment to offering its customers a retail experience tailored to their real-life needs and preferences.

    With over 70 nationwide locations, SM Home aims to gradually extend this novel retail format to its other stores nationwide.

    Questions & Answers

    What is the new store layout of SM Home’s redesigned stores?
    The newly designed stores are divided into dedicated zones for kitchen, dining, living, bedroom, bathroom, storage, laundry, cleaning, and a gift registry.

    What changes were made in the SM Home’s store redesign?
    The redesign includes a complete overhaul of the store layout, product curation, brand identity revamp, and an overall transformation of the in-store experience.

    What is the objective behind SM Home’s store redesign?
    SM Home aims to offer Filipinos a home store experience that is built for real life, combining everyday household essentials and higher-value aspirational products in a single retail environment.

  • SM Group Launches Thrilling Expansion of Beauty and Wellness Network with 1,000+ Brands

    SM Group Launches Thrilling Expansion of Beauty and Wellness Network with 1,000+ Brands

    The Philippines’ SM Group is quickly transforming its beauty and wellness portfolio in response to a surging demand from consumers across the nation. With an ambitious aim to be at the forefront of this booming sector, SM Beauty has introduced over 1,000 beauty brands across its 77 locations, showcasing esteemed labels like YSL, Lancôme, and Calvin Klein.

    Beauty Hubs for Experiential Retail

    In a bid to elevate the shopping experience, SM Beauty has unveiled dedicated beauty hubs in select stores. Here, customers can indulge not just in retail therapy, but also in services such as hair coloring and makeovers, all guided by an expanding team of professional beauty advisers. It’s the kind of pampering that might make even your morning coffee jealous.

    Wellness Economy on the Rise

    The Global Wellness Institute has forecasted that the global wellness economy will soar to nearly $9 trillion by 2028, highlighting a paradigm shift towards health and self-care. In the Philippines, this trend is blossoming; in 2023, the nation ranked 13th out of 218 economies worldwide in the personal care and beauty sector. Much of this momentum is fueled by a youthful, wellness-oriented population eager to invest in self-improvement.

    Holistic Growth with Watsons

    Another key player in SM Group’s expansion is Watsons Philippines, which is bolstering its offerings with exclusive skincare lines and health services, while incorporating sustainability-focused innovations into its stores. This dual approach not only nods to environmental consciousness but also resonates with today’s socially aware consumers.

    Commitment to Filipino Consumers

    Looking ahead, SM Group is determined to broaden access to beauty and wellness products, creating a diverse array of choices and enriching experiences designed specifically for Filipino consumers. With its strategic investments and a finger firmly on the pulse of local trends, the company is set to become a titan in the beauty and wellness arena.

    Questions & Answers

    How is SM Beauty adapting to consumer demands in the Philippines?
    SM Beauty is expanding its portfolio by offering over 1,000 beauty brands at its locations and launching dedicated beauty hubs to provide personalized services like hair coloring and makeovers.

    What does the future hold for the global wellness economy?
    The Global Wellness Institute projects that the global wellness economy is expected to reach nearly $9 trillion by 2028, indicating significant growth in health and wellness sectors globally.

    What role does Watsons play in SM Group’s strategy?
    Watsons Philippines is enhancing its presence by launching exclusive skincare lines and health services, while also focusing on sustainability to attract eco-conscious consumers.

  • Philippines Central Bank Issues Islamic Finance Rules

    Philippines Central Bank Issues Islamic Finance Rules

    Bangko Sentral ng Pilipinas aims to issue new implementation rules regarding Islamic finance before the end of the year and potentially allow banks to establish separate subsidiaries for the new business line.

    The BSP is pushing for an open approach where conventional banks can operate Islamic banking windows or establish subsidiary Islamic banks, BSP deputy governor Chuchi Fonacier said in a report, adding that she wants to issue implementation rules before the end of the year.

    Fonacier’s statement was made close on the heels of the Filipino government’s enactment of a law to promote Islamic finance which was signed by President Rodrigo Duterte in late August.

    BSP governor Benjamin E. Diokno said the law would «unlock the full potential of Islamic financing in fostering inclusive economic growth» highlighting the opportunity to access the banking system for Muslim Filipinos, particularly in the southern autonomous Bangsamoro Region. Fonacier echoed the sentiments adding that foreign Shariah-compliant banks would also be allowed to operate in the Philippines.

    Islamic banking in the Philippines is promising, she said.

    Despite a sizeable ten percent minority of Filipinos being Muslims, banking services catered to the segment’s needs remain limited. Of the country’s 45 universal and commercial bank groups only one – the Al-Amanah Islamic Investment Bank of the Philippines – operations in compliance with Shariah principles.

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  • SM Retail Achieves Small Profit Boost

    SM Retail Achieves Small Profit Boost

    SM Retail has achieved a first-quarter profit increase of 5 percent to P2.7 billion (US$51.7 million).

    Retail revenues in the first three months rose by 13 percent year-on-year to P79 billion, while sales from specialty retail stores grew by the same percentage to P19.6 billion.

    As at the end of March, SM Retail had 2385 stores, comprising 63 department stores, 1388 specialty retail stores, 57 SM Supermarkets, 53 SM Hypermarkets, 194 Savemore, 52 WalterMart, and 578 Alfamart stores.

    The figures were included in the quarterly report of SM Investments, which boosted its profit by 26 percent to PHP10.7 billion (US$205 million).

    The gains reflected improved sales from the retail business as well as its property and banking activities.

    Consolidated revenues during the period were up 15 percent year-on-year to PHP109 billion ($2.1 billion).

    “We continued to deliver double-digit growth to both our top and bottom line in the first quarter,” said SMIC president Frederic DyBuncio. “Performance was strong across our businesses, particularly for our banks.”

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  • SM Prime profit rises 16% in first 3 months this Year

    SM Prime profit rises 16% in first 3 months this Year

    Philippine property giant SM Prime Holdings says its net income in the first quarter increased 16 percent based on higher rental income and residential sales.

    Gross earnings increased 14 percent to PHP26.5 billion (US$508.1 million) during the time period, while total outgoing grew 11 percent to PHP13.6 billion ($260.7 million). Net income attributable to shareholders hit PHP8.8 billion ($168.7 million) in the first quarter, in comparison with PHP7.6 billion ($145.7 million) for the same period a year earlier.

    “SM Prime continues to benefit from the overall growth of the Philippine economy that boosts the household income of most families,” said SM Prime president Jeffrey Lim. “We are optimistic that we will sustain this performance this year as we continuously expand our core businesses in developing provincial cities across the country.”

    The firm plans to launch four new malls this year in Pangasinan, Zambales, Caraga and Zamboanga.

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  • Smart, Nokia to pilot 5G deployments in schools

    Smart, Nokia to pilot 5G deployments in schools

    The Philippines’ PLDT and mobile division Smart have signed an agreement with Nokia to pilot the deployment of 5G technologies and services in schools.

    The agreement will see PLDT, Smart and Nokia collaborate to identify real-world 5G standalone solutions for use in schools, colleges and universities, including arificial intelligence, drones and advanced IoT applications.

    The companies will levearge the PLDT-Smart Technolab in Makati and the Nokia Technology Center in Quezon City for the project.

    In addition, the agreement covers deploying 5G standalone products and services, such as 5G handsets and applications, in the Philippines.

    “We are happy to partner with Nokia to help develop intelligent solutions and technologies for the benefit of the Philippine education sector,” PLDT-Smart chairman and CEO Manuel V. Pangilinan said.

    “As the country’s leading and most trusted technology enabler, PLDT and Smart are excited to work with Nokia and the academe in realizing our 5G vision,” added the company’s chief revenue officer Ernesto R. Alberto.

    PLDT and Smart claim to be the best positioned company to deploy 5G in the Philippines due to its status as the operator as the country’s most extensive fiber network, which now spans over 244,000 route kilometers.

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  • Michael Kors reopens Makati flagship store

    Michael Kors reopens Makati flagship store

    Affordable luxury leather goods brand Michael Kors has finished renovating its flagship store in Manila, reopening to the Filipino customer in October 2017.

    Located at Greenbelt 5, the improved Makati store unveils a new play on metal accents — as seen on shelves and fixtures – for the US brand.

    The New York handbag and accessories retailer is locally distributed in the Asian nation by Stores Specialists Inc. (SSI), and is looking to ramp up sales in the Philippines.

    “Michael Kors has contemporary styling and great value. It is very up to date with trends interpreted in a way that resonates with every kind of style,” SSI Group president Anton Huang, told local media.

    According to Huang, Michael Kors bags, accessories and footwear remain the Philippines’ most sought after item.

    However, Michael Kors Philippines has witnessed an increase in sales for ready-to-wear lines, adding the brand’s success is rising as more customers adopt a sophisticated lifestyle.

    “Ready-to-wear apparel has become more important to our customers. It  is been successful. For apparel, there’s growth season after season.”

    In addition to the newly reopened Makati flagship, Michael Kors has other stores in the Philippines located at Central Square on Bonifacio High Street, Newport Mall, Power Plant Mall, Rustan’s Makati, and Shangri-La Plaza Mall.

    Kors had been grappling with declining sales in recent quarters as more people shop online. The firm has faced over-distribution of its products and a reliance on promotions to boost sales also eroded some of Kors’ brand value and its appeal.

    However, in August 2017, Michael Kors Holdings reported better-than-expected profit for the first quarter as it cut down on promotions and sold more premium handbags, it said.

    Looking ahead, the company expects fiscal 2018 revenue of about $4.28 billion, slightly higher than its earlier forecast of $4.25 billion.

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  • Michael Kors Philippines updates Makati flagship

    Michael Kors Philippines updates Makati flagship

    Michael Kors Philippines has completed the renovation and reopening of its flagship store at Greenbelt 5 in Makati.

    The US affordable luxury brand is distributed in the Philippines by Stores Specialists Inc (SSI) and has other stores at Central Square on Bonifacio High Street, Newport Mall, Power Plant Mall, Rustan’s Makati, and Shangri-La Plaza Mall.

    “Michael Kors has contemporary styling and great value. It is very up to date with trends interpreted in a way that resonates with every kind of style,” says SSI Group president Anton Huang.

    He says Michael Kors Philippines has noted a recent upturn in sales of ready-to-wear lines, while bags and accessories and footwear are the most popular categories in the local market. “Up-to-date, ready-to-wear apparel has become more important to our customers. It’s been successful.

    “For apparel, there’s growth season after season.”

    Huang says the brand’s fortunes are rising along with the evolving sophistication of Filipinos’ lifestyles.

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  • Pacsafe opens first global flagship store in the Philippines

    Pacsafe opens first global flagship store in the Philippines

    Keeping in mind the growing demand for safer travel, globally recognized travel gear brand Pacsafe has opened its first flagship store in the Philippines. The boutique, the company’s first in the world, is located at G/F Glorietta 5, Makati City. It was officially launched through United Limsun International Trading Corp., the brand’s exclusive distributor in the country. At least 10 more retail locations are expected to open in three years.

    The new boutique will carry the company’s full range of products (adventure backpacks, urban and leisure bags, women’s bags, photography bags, luggage and travel accessories such as straps, cables and locks).

    Pacsafe has extended its company’s global marine turtle conservation advocacy by providing a kick-off fund donation of P235,000 to the Bantay Pawikan Conservation Center in Morong, Bataan, through the Bataan Tourism Council. Present to accept the donations were Vicky Garcia and Isabel Garcia, chairs of the Bataan Tourism Council.

    Built on the aspirations of Australian founders Rob Schlipper, CEO, and Magnus McGlashan, president and cofounder, Pacsafe has become synonymous with smart and safe travel. As the pioneer of the travel security category since 1998, Pacsafe is known all over the globe as the world’s most secure antitheft travel gear. It has steadily gained solid industry leadership throughout the years, thanks to trademark innovations like the eXomesh, RFIDsafe and other technologies.

     

  • PLDT opens Philippines’ biggest data center

    PLDT opens Philippines’ biggest data center

    Philippine service provider PLDT has opened the country’s biggest data center at major business district Makati City.

    The new facility has been built to serve a wide range of organizations, particularly those handling vital data such as banks, business process outsourcing (BPO) firms, IT and content providers and government institutions.

    Set up by PLDT subsidiary ePLDT, the newest VITRO Data Center sits on a nearly two-hectare property with 3,600-rack capacity. It is equipped with systems and facilities to guarantee continuous operations, ensuring that businesses can utilize robust and scalable digital infrastructure, as well as world-class 24/7 technical support capabilities.

    “PLDT is investing heavily in our VITRO data centers as we believe that these facilities are one of the basic building blocks of the country’s digital economy. This data center will be a vital resource for companies as they ramp up their own digital services,” said PLDT Chairman and CEO Manuel V. Pangilinan.

    The new earthquake-resistant, purpose-built data center in Makati is built on solid ground without seismic faults within its proximity. In addition, special architectural techniques and materials planning were implemented to provide the data center with fire-rated concrete walls and flood-protected design.

    As a result, VITRO Makati is rated to withstand earthquakes up to intensity eight in the Richter scale. The data center is also compliant with global design standards.

    “’PLDT recognizes how vital it is for enterprises to ensure stable operations despite changes in the external environment. The need for scalable and secure hosting facilities to house and manage critical platforms is also growing in importance as the enterprise becomes more data-driven as a result of continuous digital transformation initiatives,” said PLDT executive vice president and ePLDT president and CEO Eric R. Alberto.

    To address the growing concern over digital security, VITRO Makati offers one of the most secure and impenetrable structures in the Philippines with an eight-layer security design, guaranteeing that data and applications will always be protected.

    Each major component of the facility is configured with redundant counterparts in place that seamlessly operate to anticipate adverse events, including power generators and  Uninterrupted Power Supply (UPS) units, among others.

    As part of the VITRO network of data centers, VITRO Makati also serves as a carrier-neutral Internet Exchange facility that provides numerous IP peering services, enabling access to local and international content.

    VITRO Makati is also a Nexcenter-certified facility, allowing its clients to use globally standardized Nexcenter services of world leader NTT Com at some 140 locations in 84 cities of 19 countries, in addition to NTT Com’s Arcstar Universal One private-network service, which is already available in the Philippines and which is largely used by the country’s BPO industry.

    “As the world becomes even more digitally connected, Filipino enterprises must leverage on new technologies to ensure the security and resilience of their operations. PLDT’s digital platforms can enable enterprises to take advantage of disruptive technologies, secure their operations, and promote growth in their businesses,” said Alberto.

    The PLDT Group now operates seven data centers all over the country with a total rack capacity of nearly 7,000 to serve the needs of small, medium, and large enterprises across various industries, including banking, financial services, outsourcing, telecoms, and gaming.

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  • Third Manila NBA Store opens

    Third Manila NBA Store opens

    The National Basketball Association (NBA) has opened the third Manila NBA Store.

    “[The new branch] has the most complete assortment of [NBA] products and merchandise in the Philippines,” said NBA Philippines MD Carlo Singson during a press conference.

    NBA store Philippines, Quezon cityThe International Athletic Trading Company (AITC) is managing the new branch in Trinoma Mall, Quezon City (right picture). It also oversees the NBA’s flagship store in Glorietta 3 in Makati City, and its second store in Mega Fashion Hall at SM Megamall in Mandaluyong City.

    IATC president and CEO Melvin Lloyd Lim said he is bullish about their new Quezon City presence, observing that the North Edsa area is “always packed with people” due to the presence of two (soon to be three) large commercial malls.

    “Based on my experience with retailing, this mall is one of the most successful Ayala malls,” Lim pointed out.

    All 30 NBA teams are represented in the merchandise at the NBA Store’s 280 sqm space including official jerseys, footwear, performance gear, lifestyle apparel, basketballs and collectibles.

    The stores feature assorted NBA products and other brands such as Adidas, Nike, Under Armour, New Era, Panini, Spalding, Stance and 2K Sports.

    In October 2015, the flagship NBA Store in the Philippines received the 2015 Asia Sports Industry Gold Award for the “Best Sports Retail Campaign” in recognition of its industry leading standards.

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  • Prada Philippines re-opens expanded Makati boutique

    Prada Philippines re-opens expanded Makati boutique

    Prada Philippines has reopened its high profile boutique in the Greenbelt Ayala Center in downtown Makati, Manila.

    The expanded and renovated store inside the prestigious mall was designed by architect Roberto Baciocchi, covers a total area of approximately 200 sqm on a single level. It houses women’s and men’s leather goods, accessories and footwear collections.

    pradaThe high-impact external facade is composed of an interplay of light-boxes, completed by a backlit white canvas curtain enclosed in a crystal box. The internal facade echoes the motif of the exterior and features two large entrances and a series of display windows.

    The first entrance, defined by the signature black-and-white marble chequered flooring – a legacy of Prada’s identity worldwide – opens up on an area dedicated to the women’s leather goods collections.

    A portal leads to a second space, where the women’s footwear collections is displayed. The entire area devoted to women is characterised by green fabric- clad walls with cut-in polished steel and crystal display niches. Steel and crystal tables with coloured display shelves and green velvet sofas complete the furnishing.

    The second entrance and the space dedicated to women both lead to a regularly-shaped area housing the men’s leather goods and footwear collections. Ebony floorboards and walls, crystal and polished steel display cases and chocolate brown carpeting define the space. Display counters with coloured saffiano leather detailing and light coloured leather sofas enhance the atmosphere.

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  • UK’s John Lewis opens today in Makati

    UK’s John Lewis opens today in Makati

    John Lewis, a chain of quality department stores operating through out Great Britain, will open its first shop-in-shop in the Philippines at SM Makati today. The chain is part of the John Lewis Partnership, and is known for its slogan “Never Knowingly Undersold.”

    John Lewis Partnership is UK’s largest example of worker co-ownership where all 30,000 staff are Partners in the business. On the other hand, Never Knowingly Undersold is the company’s unique policy to its customers that the price of any item it sells will always be as low as the lowest price in the neighborhood. It has been in use since 1925.

    A wide range of own-brand home products including bed, bath, tableware, and home accessories, such as candles and photo frames, will be on offer in a dedicated John Lewis Department at SM Home in SM Makati’s Fifth Level.

    The shop-in-shop here in the Philippines will have a wide range of own-brand home products like tableware and kitchen furniture

    This will be the first of the 11 John Lewis shop-in-shops in SM Retail locations across the Philippines—SM Makati, SM Aura Premier, SM Megamall, SM Mall of Asia, SM North EDSA, SM Southmall in the Metro area, and SM Cebu and SM Lanang in the provincial areas; as well as three Our Home stores. The sites will be between 300 square feet and 1,000 square feet and will have a dedicated staff.

    “SM Retail is a perfect partner to help bring the John Lewis brand to a new Asian customer base,” declares Andy Street, managing director at John Lewis.

    Meanwhile, British Ambassador to the Philippines Asif Ahmad says in a message,“I would like to congratulate SM for successfully bringing John Lewis to the Philippines,” says. In the UK, John Lewis is known as a top retailer and has a reputation for offering excellent value to customers for many years. We are delighted to have another iconic brand that will bring the experience of British quality, creativity, and lifestyle to the Filipino home.”

    The first John Lewis store opened in 1864 in Oxford Street, London. Today, it operates 43 John Lewis stores across the UK and runs a shopping website at johnlewis.com.

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