Henry Sy, the founder of SM Group, is piloting a new retail concept that returns to his roots in the shoe business, according to a report by ABS-CBN. The experimental store, which is smaller than the group’s typical department stores, focuses exclusively on footwear and accessories.
Dubbed ‘Shoe Mart’ — the original name of Sy’s first business — the outlet aims to revive the intimate, specialized shopping experience that marked the company’s early days. The store occupies a fraction of the space of a typical SM department store, with curated selections and personalized service.
Industry analysts see the move as a strategic test to capture niche market segments while reinforcing the SM brand heritage. If successful, the concept could be rolled out in other locations, potentially reshaping the group’s retail footprint in the Philippines.