SM Retail
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| Company type | Subsidiary |
|---|---|
| Industry | Retail, wholesale |
| Headquarters | Pasay, Philippines |
Key people | Teresita Sy-Coson (Chairperson) |
| Revenue |  ₱276.5 billion[1] (2016) |
| ₱10.6 billion[1] (2016) | |
| Parent | SM Investments Corporation |
| Subsidiaries |
|
| Website | sminvestments.com/retail |
SM Retail Inc. is a retail holding company based in Pasay, 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]
History
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]
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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 the local operations of Alfamart, Forever 21, and Crate & Barrel.[7]
References
- ^ 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
Media related to SM Retail at Wikimedia Commons
