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.[5]
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).[6] In 2016, SM Retail through Macquarie Capital underwent a merger with various local retailers.[7]
Retail brands
SM Retail has ownership over SM Supermarket, SM Hypermarket and Savemore chains which would later be called collectively as SM Markets.[8][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).[7]
A Savemore supermarket in Valenzuela City, Philippines
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.[7]
References
^ abcd"2016 SMIC Annual Report" (PDF). 2016. pp. 13–18. Retrieved May 1, 2018.
^Austria, Jennifer (May 1, 2017). "SM Retail eyes 500 Alfamart stores". Manila Standard. Retrieved May 1, 2018.
^"Company Overview of Sm Retail, Inc". Bloomberg. Retrieved May 1, 2018.
^"SM Retail". www.iads.org. Retrieved April 22, 2021.
^"SM Investments". Companies History - The biggest companies in the world. August 5, 2013. Retrieved March 23, 2020.
^"SM Corp. restructures to simplify ownership". SM Prime Holdings. August 10, 2006. Retrieved May 1, 2018.
^ abcGonzales, Iris (July 13, 2016). "SEC approves retail merger in SM Group". The Philippine Star. Retrieved May 1, 2018.
^"SM Markets". SM Investments Corporation. Retrieved May 1, 2018.
External links
Media related to SM Retail at Wikimedia Commons
January 29, 2023
retail, private, retail, holding, company, based, pasay, metro, manila, philippines, subsidiary, conglomerate, investments, corporation, been, member, international, association, department, stores, since, 2009, typeprivateindustryretail, wholesaleheadquarters. 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 has been a member of the International Association of department stores since 2009 4 SM RetailTypePrivateIndustryRetail WholesaleHeadquartersPasay Metro Manila PhilippinesKey peopleTeresita Sy Coson Chairperson Revenue 276 5 billion 1 2016 Net income 10 6 billion 1 2016 ParentSM Investments CorporationSubsidiariesThe 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 amp B Inc Fitness Health amp Beauty Holdings Corp Websitesminvestments com retail Contents 1 History 2 Retail brands 3 References 4 External linksHistory EditThe 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 5 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 6 In 2016 SM Retail through Macquarie Capital underwent a merger with various local retailers 7 Retail brands EditSM Retail has ownership over SM Supermarket SM Hypermarket and Savemore chains which would later be called collectively as SM Markets 8 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 7 A Savemore supermarket in Valenzuela City Philippines 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 amp Barrel s local operations 7 References Edit a b c d 2016 SMIC Annual Report PDF 2016 pp 13 18 Retrieved May 1 2018 Austria Jennifer May 1 2017 SM Retail eyes 500 Alfamart stores Manila Standard Retrieved May 1 2018 Company Overview of Sm Retail Inc Bloomberg Retrieved May 1 2018 SM Retail www iads org Retrieved April 22 2021 SM Investments Companies History The biggest companies in the world August 5 2013 Retrieved March 23 2020 SM Corp restructures to simplify ownership SM Prime Holdings August 10 2006 Retrieved May 1 2018 a b c Gonzales Iris July 13 2016 SEC approves retail merger in SM Group The Philippine Star Retrieved May 1 2018 SM Markets SM Investments Corporation Retrieved May 1 2018 External links Edit Media related to SM Retail at Wikimedia Commons Retrieved from https en wikipedia org w index php title SM Retail amp oldid 1120476923 Retail brands, wikipedia, wiki, book, books, library,
