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Henry Sy, Shoe Mart

Henry Sy came from an impoverished family in China and immigrated to the Philippines in 1936. After their family store burned down during World War II, Sy saw opportunity selling used military goods and opened his first shoe store. Though he faced challenges finding manufacturers, Sy persisted through hard work. This led to the gigantic SM chain of over 44 shopping malls across Asia, making Sy one of the richest men in the world. Sy's story is an inspiration, showing how perseverance and determination can lead to success despite humble beginnings.

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Amarra Kaelin
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688 views2 pages

Henry Sy, Shoe Mart

Henry Sy came from an impoverished family in China and immigrated to the Philippines in 1936. After their family store burned down during World War II, Sy saw opportunity selling used military goods and opened his first shoe store. Though he faced challenges finding manufacturers, Sy persisted through hard work. This led to the gigantic SM chain of over 44 shopping malls across Asia, making Sy one of the richest men in the world. Sy's story is an inspiration, showing how perseverance and determination can lead to success despite humble beginnings.

Uploaded by

Amarra Kaelin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Henry Sy, Shoe Mart

SM is more than just a shopping mall. It is a beloved institution. Many of my favorite memories
happened in SM. From shopping, watching blockbuster movies, date night, ice skating to food
tripping, SM has it all.

However, this gigantic chain of more than 44 large-scale shopping centers in the Philippines and
throughout Asia has very humble beginnings.

Henry Sy came from an impoverished family in Jinjiang, a town near Xiamen, China. The entire
family left China in 1936 to help the family patriarch manage a thriving convenience store in
Manila.

Unfortunately for the family, their store was burned down during World War II. However,
business-minded Henry saw an opportunity selling used military combat boots and other postwar
goods from supportive American soldiers!
His success led to the opening of his first shoe store, the SM in Avenida, Manila. Henry had
problems finding shoe manufacturers who could design shoes according to what he had in mind,
but he persisted. He spoke to customers and built his own network of suppliers and
manufacturers.

That never-say-die attitude got Henry Sy to where he is now: one of the richest men in the world
and a world-class commercial center developer who provides opportunities to both entrepreneurs
and the working class!

From rags to riches—the stories we are so often inspired by. Where the poor and hard -
pressed become the rich and the powerful, either by hard work and perseverance,
meeting the right people at the right time, or just by a twist of fate and a stroke of dumb
luck. We can’t help but be in awe when we find out that those in power came from the
humblest of beginnings. For success and achievement are not handed down on a silver
platter but earned through the trials of life and through the will and determination to see
things through to the end.

Here we will look into the story of a man who arrived in the Philippines and struggled
every step of the way, eventually becoming the richest man in the country—and who still
holds that title today. That man is Henry Sy, Sr.—a Chinese-Filipino business
magnate, successful investor, and philanthropist. He started out his career with a simple but
friendly sari-sari store (neighborhood variety store), before going on to make a shoe retail
store. He is now the chairman of SM Prime Holdings Inc., the holding corporation for all
his interests within his dominant empire.

Henry Sy has gone through much adversity in his life. He did not get success once and
roll with it continuously; he had his ups and downs like many of us do. But what made him
different and eventually earned him the success he is enjoying now is that he never gave
up on pursuing his dreams.

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