1. Henry Sy, Shoe Mart (SM)
Discovery
When his family’s convenience store in Manila was burned down during World War II,
Henry Sy come up with the idea to sell used military combat boots and other postwar goods from
the American soldiers.
Development of Concept
After that, he tries to sell rejected shoes and failed once again but he never gives up
instead he comes up with a new concept where he wants to change the strategy of an ordinary
shoe manufacturer. This is when he considered opening Shoe Mart known as SM in Quiapo,
Manila in which the world first air-conditioned shoe store. For that, one of his concepts is to
build a shoe store in a classy and inviting format.
Organizing Resources
But since Henry was unable to get more suppliers considering that many manufacturers at
that time refuses to listen to the design he had in mind, he considered selling clothing and other
merchandise with the help of her mother. He also considered hiring some stuff as his business
grow.
Implementation
After gathering resources including employees, suppliers, and even customers, he finally
tried to implement his business. In 1970, the store become full-line department stores that change
the name from Shoe Mart to SM. At the start of 1972, the business worked slow but he still
continued to open more exceeding department stores and thought about long-term goals. Because
of his determination, on November 25, 1985, 1st supermall opened in Quezon City.
Reaping the returns
Henry continued to plan an expansion of the mall to attract more customers and as of
today, there are 43- malls in the Philippines and China as well. This settle that the business from
the idea started to grow in numbers and expands from departmental stores to hardware stores,
supermarkets, and more.
Discovery
When his family’s convenience store in Manila was burned down during World War II,
Henry Sy come up with the idea to sell used military combat boots and other postwar goods from
the American soldiers.
Development of Concept
After that, he tries to sell rejected shoes and failed once again but he never gives up
instead he comes up with a new concept where he wants to change the strategy of an ordinary
shoe manufacturer. This is when he considered opening Shoe Mart known as SM in Quiapo,
Manila in which the world first air-conditioned shoe store. For that, one of his concepts is to
build a shoe store in a classy and inviting format.
Organizing Resources
But since Henry was unable to get more suppliers considering that many manufacturers at
that time refuses to listen to the design he had in mind, he considered selling clothing and other
merchandise with the help of her mother. He also considered hiring some stuff as his business
grow.
Implementation
After gathering resources including employees, suppliers, and even customers, he finally
tried to implement his business. In 1970, the store become full-line department stores that change
the name from Shoe Mart to SM. At the start of 1972, the business worked slow but he still
continued to open more exceeding department stores and thought about long-term goals. Because
of his determination, on November 25, 1985, 1st supermall opened in Quezon City.
Reaping the returns
Henry continued to plan an expansion of the mall to attract more customers and as of
today, there are 43- malls in the Philippines and China as well. This settle that the business from
the idea started to grow in numbers and expands from departmental stores to hardware stores,
supermarkets, and more.
