SM Supermarket Manila

Henry Sy, a Chinese Filipino businessman with roots in Fujian, founded SM Supermalls. In 1948, Sy launched his first shoe store in Quiapo. A year later, along Carriedo, he opened the first Shoemart (SM) location. Shoemart became a full-line department store in 1972. The company began operating supermarkets and home appliance stores in 1965. The first “Supermall,” SM North EDSA in Quezon City, debuted the same year. In 2001, SM opened its first location in China as part of an international expansion. It’s Fujian’s SM City Xiamen mall. The COVID-19 pandemic in 2020 forced the enforcement of increased community quarantines, which had an impact on SM Supermalls’ operations. Even though it claimed to have kept a strong occupancy rate over the following two years, SM lost half of its income in 2020.