Retail News CRM

Tag: SM Mall

  • Henry Sy passes away at 94

    Henry Sy passes away at 94

    The founding father of Philippine retail, Henry Sy, has passed away. Sy, who has topped the Philippines Rich List for the last seven years, was chairman emeritus of SM Investments, one of the country’s largest business conglomerates. A Chinese immigrant who arrived in the Philippines at the age of 12 with his parents, his introduction to retailing began with helping out in his father’s neighbourhood store. He saved enough money to open a shoe store which he named ShoeMart, and whose initials later became the most recognisable brand name in the nation.

    From a single shoe store, his business expanded into department stores, the first of which opened in 1972, then into malls, with 70 shopping centres bearing the SM brand in the Philippines and more in Mainland China.

    SM Investments also owns supermarkets, BDO Unibank, almost 50 residential developments, six hotels and nine office towers.

    Sy, who died on Saturday, stepped down as chairman of the company in 2017, taking on the title chairman emeritus and leaving the business under the leadership of his family and his long-time business partner Jose Sio, who is now chairman.

    He had six children: Teresita Sy-Coson, Elizabeth, Henry Jr, Hans, Herbert and Harley. Teresita and Henry Jr are vice chairpersons of SM Investments and Harley serves as executive director of SM.

    Forbes last year estimated the 94 year old’s net worth at US$19 billion, ranking him the most wealthy Filipino and 53rd richest man in the world.

    Lees ook:

    Lees ook:

    Lees ook:

  • H&M Philippines opens in SM Mall of Asia

    H&M Philippines opens in SM Mall of Asia

    H&M Philippines opens its first SM Mall of Asia branch today, with plans to open two more stores in Metro Manila before the end of the year.

    The other outlets for the Swedish fast-fashion giant will be at Greenbelt 4 in Makati City, and Robinsons Galleria in Ortigas, taking the company’s total to 29 stores nationwide.

    “We have more than 700 colleagues working in the stores, distribution center and support office,” says H&M Philippines communications chief Dan Mejia.

    H&M Philippines last year generated about PHP5.38 billion (US$107 million) in sales from 21 stores – an increase of more than 50 per cent over the PHP3.45 billion from 15 stores in 2015.

    Mejia says the retailer will also launch an online shop this year.

    At the end of last year, H&M had 4351 stores in 64 markets.

    Lees ook:

  • Motorola Philippines opens third concept kiosk

    Motorola Philippines opens third concept kiosk

    Motorola Philippines has opened its third concept kiosk, at SM Mall of Asia in Pasay City.

    It is part of the Lenovo-owned company’s move to strengthen its retail footprint in the nation’s high-traffic malls.

    On the second level of the mall’s Cyberzone, the store features a full Moto smartphone lineup.

    “Motorola is keen to revolutionize Filipinos’ digital lifestyle,” says Lenovo Mobile Business Group Philippines country manager John Rojo.

    Shoppers at the new kiosk have been offered exclusive discounts and gifts when buying Motorola smartphones.

    Lees ook:

  • Metro Manila malls love Pokemon GO for bringing increased foot traffic

    Metro Manila malls love Pokemon GO for bringing increased foot traffic

    “A few days after the Philippine launch of Pokemon GO, mall operators reported a surge in foot traffic from people hooked on the augmented reality mobile phone-based game,” reports Doris Dumlao-Abadilla in Philippine Daily Inquirer.

    Maricris Bernardino, Ayala Malls head of marketing, said, “Since the launch of Pokemon Go in the Philippines, our parks and malls have filled with Pokemon hunters. Gamers continue to play and visit our malls despite the rains.” Several unique Pokemon monsters have reportedly been found in Ayala Malls’ gardens and parks.

    For his part, Harold Brian Geronimo, assistant vice president at Megaworld Corp, noted that Eastwood City’s daily average foot traffic “more than doubled” after the launch of Pokemon GO. Geronimo added that foot traffic was also higher than McKinley Hill, Burgos Circle, and Venice Piazza. This, he explained, led to an incease in dining sales.

    It’s the same case with SM Supermalls. In fact, last Fri night, Aug 12, SM hosted a nationwide Pokemon GO “lure party” across its 50 SM Supermalls and SMDC Properties.

    CNN Philippines reports that Robinsons Malls, Araneta Center, Bonifacio High Street, UP Ayalaland Technohub, Greenfield District Central Park, The Podium Mall, and Capitol Commons also hosted lure parties last Aug 12.

  • Henry Sy still Philippines’ richest man

    Henry Sy still Philippines’ richest man

    Property, retail and banking tycoon Henry Sy whose conglomerate owns the chain of SM Supermalls in his country and China has retained the title of the Philippines’ richest person for the eight consecutive year, with his net worth up $1.7 billion from last year to $14.4 billion.

    Forbes Philippines, which puts together the list, said Thursday that the value of Sy’s publicly traded conglomerates SM Investments rose 17 percent and SM Prime Holdings 20 percent over the past year. His companies announced record income from banking and retail businesses and two new mall partnerships in 2014. Sy also has a stake in privately owned power supplier National Grid Corp.

    John Gokongwei Jr. of JG Summit conglomerate that owns SM’s rival, mall chain Robinsons, is the second richest with a net worth of $5.5 billion.

    Forbes said Gokongwei moved up three spots after his company’s stocks rose 30 percent, boosted by revenue growth in its petrochemical business and investments in Meralco, the Philippines largest power distributor.

    JG Summit also has interests in food and beverage, airlines, telecoms, property development, banking, retail, and hotels.

    Forbes compiles the net wealth of the Philippines’ richest based on stock prices and exchange rates, with the value of private companies based on similar companies that are publicly traded.

    Alliance Global’s Andrew Tan climbed a notch to the third place despite a drop in his net worth to $4.5 billion from the previous $5.1 billion. His company’s stock price is 11 percent lower due to a drop in income from its resort and casino operations.

    Lucio Tan of LT Group whose businesses include stakes in beverages, tobacco, distilled spirits, banking and property was fourth with a net worth of $4.3 billion. Tan is also chairman of Philippine Airlines.

    Fifth was International Container Terminal Services’ Enrique Razon Jr., who is worth $4.1 billion.

    Rounding out the top 10 are George Ty, the Abotiz Family, Jaime Zobel de Ayala, David Consunji, and Tony Tan Caktiong.

    Lees ook: