SM Retail

  (Redirected from The SM Store)

SM Retail Inc. is a private retail holding company based in Pasay, Metro Manila, Philippines. It is a subsidiary of the conglomerate SM Investments Corporation.[2][3]

SM Retail
TypeHolding company
IndustryRetail/Wholesale
HeadquartersPasay, Metro Manila, Philippines
Key people
Teresita Sy-Coson (Chairperson)
RevenueIncrease 276.5 billion[1] (2016)
Increase 10.6 billion[1] (2016)
ParentSM Investments Corporation
Subsidiaries
  • The SM Store
    • SM Mart Inc.
    • Mayon Shoppers Lifestyle Corp.
  • SM Markets
    • Supervalue, Inc. (SM Supermarket)
    • Sanford Marketing Corporation (Savemore Market)
    • Super Shopping Market, Inc. (SM Hypermarket)
  • SM Speciality Stores
    • ACE Hardware Philippines
    • Homeworld Shopping Corp. (SM Home)
    • International Toyworld (Toy Kingdom)
    • Nursery Care Corporation
    • Casamia Furniture Center, Inc. (Our Home)
    • Kultura Store
    • Star Appliance Center (SM Appliance Center)
    • CK Fashion Collection Corp.
    • Signature Lines
    • Supplies Station
    • Sports Central (Manila)
    • H & B, Inc.
    • Fitness Health & Beauty Holdings Corp.
Websitesminvestments.com/retail

HistoryEdit

The company was founded by Henry Sy, Sr. on January 15, 1960. Initially, he named his business Shoemart and focused on buying large supplies of shoes from the United States. His business grew until he was able to open a department store. He named his second company SM Department Store Inc. [4]

In 2006, the board of directors of the SM Investments Corporation announced that it will undergo a corporate restructuring. Under the restructuring, two companies were established: SM Retail Inc. and SM Land Inc. The SM Supermarket, SM Hypermarket, and SM Department Store (now The SM Store) retail chains were placed under the ownership of SM Retail while SM Land Inc. is responsible for managing the real estate assets of the parent corporation. SM Prime Holdings remains the sole operator of the SM Groups' SM Supermalls shopping mall chain (SM Prime later bought out and merged SM Group's land property division (SM Land) in 2013, which owns SM Development Corporation, Highlands Prime, Inc., SM Hotels and Convention and SM Commercial Properties Group).[5] In 2016, SM Retail through Macquarie Capital underwent a merger with various local retailers.[6]

SM Retail has been a member of the International Association of department stores since 2009.

Retail brandsEdit

SM Retail has ownership over SM Supermarket, SM Hypermarket and Savemore chains which would later be called collectively as SM Markets.[7][1] It also owns The SM Store department stores and food retail stores under WalterMart and Alfamart (joint venture between SM and the Indonesian-based mini-mart/convenience store chain for Philippine franchise).[6]

Since the company underwent a merger in February 2016 with various local retail companies, SM Retail has ownership over other retail brands such as Ace Hardware, SM Appliances, Homeworld, Our Home, Toy Kingdom, Watsons, Kultura, Baby Company, Sports Central, Pet Express.[1] It also has majority stakes in Alfamart, Forever21, and Crate & Barrel's local operations.[6]

ReferencesEdit

  1. ^ a b c d "2016 SMIC Annual Report" (PDF). 2016. pp. 13–18. Retrieved 1 May 2018.
  2. ^ Austria, Jennifer (1 May 2017). "SM Retail eyes 500 Alfamart stores". Manila Standard. Retrieved 1 May 2018.
  3. ^ "Company Overview of Sm Retail, Inc". Bloomberg. Retrieved 1 May 2018.
  4. ^ "SM Investments". Companies History - The biggest companies in the world. 2013-08-05. Retrieved 2020-03-23.
  5. ^ "SM Corp. restructures to simplify ownership". SM Prime Holdings. 10 August 2006. Retrieved 1 May 2018.
  6. ^ a b c Gonzales, Iris (13 July 2016). "SEC approves retail merger in SM Group". The Philippine Star. Retrieved 1 May 2018.
  7. ^ "SM Markets". SM Investments Corporation. Retrieved 1 May 2018.

External linksEdit