SM Retail Inc. is a

private Private or privates may refer to: Music * " In Private", by Dusty Springfield from the 1990 album ''Reputation'' * Private (band), a Denmark-based band * "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorde ...

retail Retail is the sale of goods and Service (economics), services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturing, manufacturers, dire ...

holding company based in

Pasay Pasay, officially the City of Pasay ( fil, Lungsod ng Pasay; ), is a 1st class highly urbanized city in the National Capital Region of the Philippines. According to the 2020 census, it has a population of 440,656 people. Due to its location jus ...

Metro Manila Metropolitan Manila (often shortened as Metro Manila; fil, Kalakhang Maynila), officially the National Capital Region (NCR; fil, link=no, Pambansang Punong Rehiyon), is the capital region, seat of government and one of three List of metrop ...

Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

. It is a subsidiary of the conglomerate

SM Investments Corporation SM Investments Corporation (SMIC), also known as SM Group, is a Filipino conglomerate with interests in shopping mall development and management, retail, real estate development, banking, and tourism. Founded by Henry Sy, it has become one o ...

. SM Retail has been a member of the International Association of department stores since 2009.

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. In 2006, the board of directors of the

announced that it will undergo a

corporate restructuring Restructuring is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. Other reasons ...

. 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 SM Prime Holdings, Inc. (SMPH) is a Filipino integrated property developer and a public subsidiary of SM Investments Corporation. It was incorporated on January 6, 1994, to develop, conduct, operate and maintain the SM commercial shopping cen ...

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). In 2016, SM Retail through Macquarie Capital underwent a merger with various local retailers.

Retail brands

SM Retail has ownership over SM Supermarket, SM Hypermarket and Savemore chains which would later be called collectively as SM Markets. It also owns The SM Store department stores and food retail stores under

WalterMart Walter Mart (stylized as WalterMart) is a Filipino chain of community shopping malls located in Metro Manila, Central, and South Luzon. The chain operates its anchor stores that include Walter Mart Supermarket, Walter Mart Cinemas, Abenson Appl ...

and Alfamart (joint venture between SM and the Indonesian-based mini-mart/convenience store chain for Philippine franchise). 2491Marulas Valenzuela City landmarks 18

2491Marulas Valenzuela City landmarks 18

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 Toy Kingdom is a large toy store chain owned and developed by the SM Group by the late Chinese Filipino taipan, Henry Sy, Sr., along with its corporation name, the "International Toyworld Inc". It features a variety of toys, gizmos & gadgets. Th ...

Watsons Watsons () is a Hong Kong health care and beauty care chain store in Asia and Europe. It is the flagship health and beauty brand of the A.S. Watson Group, which is majority owned by CK Hutchison Holdings. It operates near 8,000 stores an ...

Kultura ''Kultura'' (, ''Culture'')—sometimes referred to as ''Kultura Paryska'' ("Paris-based Culture")—was a leading Polish-émigré literary-political magazine, published from 1947 to 2000 by ''Instytut Literacki'' (the Literary Institute), ini ...

, Baby Company, Sports Central, Pet Express. It also has majority stakes in Alfamart, Forever21, and Crate & Barrel's local operations.

References

External links

* {{SM Group

Retail Retail is the sale of goods and Service (economics), services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturing, manufacturers, dire ...

Holding companies of the Philippines Companies based in Pasay Retail companies of the Philippines