Have you ever wondered why there’s no Mercury Drug Store in SM Malls? You didn’t notice it, right? But then, for some people who notice that all that SM Malls have are Watson stores, we have here the story behind it that would clearly explain why there’s no Mercury Drug Store in SM Malls.
Henry Sy, a Chinese-Filipino Businessman and the chairman of SM Prime Holdings, Inc., and the Philippines’ retail king is the one that pioneered the establishment of SM Malls. It was in 2011 when Forbes Magazine hailed him as the no.1 billionaire in the Philippines.
But then, life isn’t really that easy because before he reached the peak of success, he first experienced a lot of struggles in his life.
He wasn’t born with a silver spoon and so ever since he was a child, he had already tried different businesses to save enough money and to survive for the day.
After he saved enough money, he decided to start a small business. He thought of building his own small shoe store.
But the question is, how could he get customers?
He noticed that the Mercury Drug Store has a lot of customers coming in and out of their store. He then approached the owner of the store and asked if maybe, he could rent a small spot in the store for his shoe store. However, the owner refused to accept his offer. He was embarrassed.
It was then when he promised himself that he would no longer let Mercury Drug Store step into his life ever again. When he became rich, he kept his promise. It was in 1958 when Henry Sy established the first ever SM Mall in Quiapo, Manila.
Today, he’s already one of the richest men in the country and people still see no signs of Mercury Drug Store in SM Malls. With his own will and determination, he was able to get himself out of poverty. Apart from being the owner of SM Malls, he’s also the owner of China Bank and the operator of BDO.
Aside from the SM Malls here in the Philippines, he also has 6 SM Malls in Mainland China and 1 SM Mall in Guam.