People might be asking, “Why there’s no Mercury Drugstore in SM Malls? There’s Watson which is basically a drugstore but we might all be wondering why Mercury Drug doesn’t exist in all SM Malls.
Henry Sy is the chairman of SM Prime Holdings, Inc., pioneered the building of SM Malls, anchored by Shoemart Department Store and Supermarket. Mr. Sy is listed as Number 1 Billionaire in the Philippines by Forbes Magazine.
According to the story, in his childhood, Mr. Sy was so ambitious to be rich that drive him to try and invest in diverse businesses which most of them failed to succeed. Mr. Sy wanted to have a small shoe store but don’t know where to start.
At that time, Mercury Drug is the most popular establishment. Looking for customers is hard for him so he decided to approach the owner of Mercury Drug if he can rent a small space to put up his store. Unfortunately, the owner declined his request.
At that moment of embarrassment, Mr. Sy promised to himself not to put himself to shame again and never allow Mercury Drugstore step into his future again when he becomes rich.
In 1958, Mr. Sy established his shoe store in Quiapo, Manila and became the first SM Mall in November 1972 (SM Quiapo). By his unwavering determination to get out from poverty, Mr. Sy is now the owner of China Bank and operator of BDO.
Mr. Sy’s success continued until today. He is the owner of numerous Malls and Supermarket all around the Philippines, 6 SM Malls in Mainland China, and 1 SM Mall in Guam. As a substitute for Mercury Drug, he franchised Watson’s in Hong Kong.
Mr. Sy showed us that poverty can’t overshadow our lives if we have determination and vision to succeed.
Source: The Manila Channel