From the dream of selling a good pair of shoes to every Filipino, SM founder Henry Sy, Sr. has laid the groundwork and piloted the development and evolution of SM Investments Corporation (SMIC) into one of the country’s largest holding companies in the Philippines today.

For over six decades, SM has demonstrated its leading presence in retail, banking, and property development in the Philippines with a rising presence in China, innovating to provide best-value in products and services across various customers.

Through careful planning and execution, SM takes inspiration from its millions of stakeholders whose lives are shaped by their aspirations and constant desire for a better quality of life.  As it continues to build on these aspirations, SM fulfills its catalyst role by expanding through its core businesses, generating employment, energizing business activities and overall progress in its host communities. SM stands firm in its commitment toward change by promoting more value and greater convenience, stimulating growth and inspiring millions toward realizing their lifelong dreams.

Explore our history through this timeline

  • 1958
  • 1960
  • 1963
  • 1967
  • 1969
  • 1972
  • 1975
  • 1976
  • 1980
  • 1983
  • 1984
  • 1984
  • 1985
  • 1985
  • 1988
  • 1990
  • 1991
  • 1992
  • 1993
  • 1994
  • 1995
  • 2001
  • 2001
  • 2003
  • 2004
  • 2005
  • 2006
  • 2007
  • 2007
  • 2008
  • 2012
  • 2013
  • 2014
  • 2015
  • 2016
  • 2017
  • 2017
  • 2018
  • 2019

1958

SM Founder Henry Sy, Sr. opens a shoe store along Rizal Avenue called Shoemart and a second one at Carriedo, Manila

1960

Holding firm SM Investments Corporation is incorporated

1963

Shoemart Makati opens

1967

Shoemart Cubao opens

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1969

Henry Sy, Sr. ventures outside retail by building the Manila Royal Hotel in Echague with a revolving restaurant

1972

Shoemart Manila on Calle Echague is transformed into the first department store

1975

Shoemart is re-christened as SM

1976

Acme Savings Bank is acquired and later named to BDO; SM Food Center (SM Food Court) opens in SM Makati as a complementary business

1980

SM Cubao, the department store, opens

1983

Sy establishes SM Foundation, Inc.

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1984

SM Department Store opens in Harrison, Manila

1984

From 1984-1985, the jingle and slogan from “We’ve got it all” was launched as “We’ve got it all for you”

1985

SM’s first mall, SM North EDSA, is opened during a time when the country was in a political and economic turbulence. The 125,000 sqm. mall is the biggest and most modern commercial structure that pioneered the shop concept in the Philippines

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1985

The first SM Supermarket opens

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1988

Sy acquires Taal Vista Hotel

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1990

SM opens SM City Sta Mesa or SM Centerpoint because of its highly strategic location

1991

SM Megamall is opened and spearheaded what is now known as the malling phenomenon in the Philippines

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1992

SM Megamall launches the country’s first indoor Olympic-size ice skating rink, a breakthrough in a tropical country

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1993

SM opens its first provincial mall, SM City Cebu

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1994

SM Prime Holdings, Inc. is incorporated that paved for SM’s mall operations. It goes public in 1994 to enhance its funding capabilities and increase its growth momentum in mall development

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1995

SM opens Savemore, its neighborhood store to bring SM closer to its customers

2001

SM’s first mall in China opens in Xiamen

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2001

SM Hypermarket, which combines a supermarket and a department store, opens in 2001

2003

SM Development Corporation, SM’s property developer, unveiled its maiden condominium project, the Chateau Elysee in Bicutan, Paranaque, marking its foray into the residential space

2004

SM Cares, a division of SM Foundation which handles the corporate social responsibility of SM Prime, was established

2005

SM Investments Corporation holds its Initial Public Offering (IPO) which is considered the largest IPO this year

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2006

SM buys a majority stake in Equitable PCI Bank and merges it with BDO

This is the same year that SM Mall of Asia opened in the scenic Manila Bay in Pasay City. It spans 400,000 sqm, the largest mall back then and was the anchor development in the Mall of Asia Complex; SMDC launches its first high-rise project, Mezza Residences in 2006

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2007

SM Foundation launches Kabalikat sa Kabuhayan Farmers’ Training program which provides agricultural training, sustainable farming and financial literacy

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2007

SM launches Hamilo Coast, a large-scale eco-tourism project in Batangas

SM Hotels and Convention Centers is organized to oversee various hotel investments of the group in line with SM’s tourism initiatives

2008

SM commemorates its 50th anniversary. This year, SM acquired majority ownership of National University

2012

The Mall of Asia Arena opens with a two-day concert of Grammy Award winner Lady Gaga

2013

SM Prime Holdings announced a landmark merger of all SM’s property assets to create a company that holds interest in malls, residences (under SM Development Corporation), offices, hotels and convention centers 9SM Hotels and Conventions Corporation) as well as leisure-related developments (Costa del Hamilo, Inc.). The merger resulted in the creation of one of the largest property conglomerates in Southeast Asia

SM launched its American Depository Receipt (ADR) Level 1 program. Under this, ADR securities issued in the US representing SM common shares can be traded over-the-counter. This allowed US investors to trade SM common shares in their own time zone and to settle transactions locally

2014

SM Prime Holdings builds 5,760 solar panels on the rooftop of SM North EDSA which could generate up to 1.5 Megawatts power or equivalent to 1,000 households

2015

SM Seaside City Cebu opens as the region’s newest landmark

2016

SM Investments Corporation announces the merger of its retail arm, SM Retail, Inc. with several retail companies that include diverse portfolio of food, household appliances, DIY, furniture, apparel, footwear, pharmaceuticals/cosmetics and specialty retail stores

2017

SM Investments Corporation reaches One Trillion Peso Market Capitalization following SM Prime’s historic feat of being the first company to record One Trillion Peso Market Capitalization

2017

SM Investments Corporation invests in 2GO Group and Philippines Urban Living Solutions, Inc. – the operator and developer of MyTown Co-Living

2018

SM celebrates its 60th year

2019

SM Investments Corporation entered into joint venture with Grab Philippines. The strategic partnership involves collaboration towards the universal acceptance of the GrabPay wallet as a payment option in the Philippines