SM Investments
His company, SM Investments, owns 62 department stores, 56 supermarkets and more than 200 smaller grocery stores. MANILA — Henry Sy, a tycoon known as the “father of modern Philippine retail,” whose chain of super malls changed the country’s retail landscape, died on Saturday in Manila.

When did Henry Sy started his business?

After saving enough money, Sy started his first business with a footwear shop called ShoeMart in 1958. Over the following six decades, ShoeMart grew and evolved, so the brand name was changed to simply “SM.” Sy opened his first department store in 1972.

How Henry Sy expand his business?

Early on, Henry Sy’s business strategy was nothing fancy but brilliant. He wanted to find ways to earn more in that setup, thus he came up with the concept of selling items in small portions. It was a practical and fast way to sell products.

What are the companies Henry Sy owns?

He was the founder of the SM Group and is currently, Chairman Emeritus of SMIC, SM Development Corporation (SMDC), Highlands Prime, Inc. (HPI) and BDO Unibank, Inc. (BDO) and Honorary Chairman of China Banking Corporation.

How much money does Henry Sy have?

The heirs of the late SM founder Henry Sy Sr. remain as the richest in the Philippines with a collective net worth estimated at $13.9 billion, based on the 2020 Forbes Philippines Rich List.

What are the skills of Henry Sy?

The Henry Sy Playbook: 9 lessons from Philippines’ richest man

• Recipe for success.
• Set a long-term vision.
• Think big, start small, move fast.
• Work hard.
• Think outside the box.
• Be ambitious: Go for the large scale, be willing to be bold.
• Be customer-focused.
• Seek market leadership.

What made Henry Sy success?

In 1958, he established a shoe store in Quiapo, Manila. He senses lots of opportunities that enable him to open Shoe Mart “SM” which the world first air-conditioned shoe store. The store merchandise shoes in a classy and inviting format. With the best success story of the store, he decided to open more stores.

When did Henry Sy open his first business?

Sy was born in Fujian province in 1924 and moved to the Philippines when he was 12. In 1958, he opened his first business, which is a local footwear shop called ShoeMart. During his lifetime, Sy built a business empire in the country, encompassing retail, banking, and real estate before he passed away at 94 years old.

Who is Henry Sy and what does he do?

Henry Sy, Sr. (|p=Shī Zhìchéng|poj=Si Chì-sêng}}; born December 25, 1924) is a Chinese Filipino businessman with interests in retailing, real estate, hospitality, banking, mining, education including healthcare services.

What did Henry Sy do in the Philippines?

Sy started with a shoe store in 1948. Now, his SM Investments Corp. empire is the Philippines’ dominant player in the mall business. However, his holdings also included banks, hotels and real estate in the Philippines, as well as shopping centers in China.

Why did Henry Sy Sr go back to China?

Sy started out with a small sari-sari store business that helped them in their day-to-day life. Sy and his father lived in a small space until the fruits of their labor made them successful in the following years. However, when the Philippine economy collapsed in World War II, their store burned down that forced his father to go back to China.