THE SM Store of the Sy family-led SM Retail Inc. marked a milestone with the opening of its 50th store in the country, cementing its foothold as the Philippines’ leading department store chain.
The SM Store recently opened its 50th store in the country in Cabanatuan, Nueva Ecija. The SM Store Megacenter in Cabanatuan has two levels showcasing shoes and luggage; ladies wear; men’s wear; children’s wear, home items and appliances. It is also SM Store’s 21st outlet in Luzon.
“This is a milestone that brings the SM Store’s total footprint to 669,658 square meters in terms of gross selling area,” the company said.
“The SM Store has gone a long way from just selling shoes. It has evolved into providing the widest array of products and services than any other store in the country today, offering the greatest convenience through our financial services and the most exciting shopping experience for our customers,” SM Retail president Jorge Mendiola said.
“We take pride in The SM Store’s commitment in staying true to our slogan of ‘We’ve Got It All for You’,” he added.
SM founder Henry Sy built the first shoe store in Quiapo in 1948. He later opened more outlets named Plaza, Paris and Park Avenue stores. Ten years later, Sy consolidated the three stores and built a bigger shoe store in 1958 in Carriedo named ShoeMart.
From about 200,000 pairs of shoes sold yearly when ShoeMart in Carriedo opened, the SM Store now sells millions of shoes every year. They sold 24.3 million pairs of footwear in 2014 alone.
Sy earlier said: “When I began selling shoes in Manila right after the Second World War, I thought then that if I sold a pair of shoes to every Filipino, even with very low margins, I would be a successful businessman.”
Over the years, the SM Store has diversified its merchandise from fashion to home furnishings, complemented by the store design that features convenience and accessibility for customers.