Why There’s No Mercury Drug In Any SM Malls?

Disclaimer:

I got this very interesting email from a friend today and I though it’s nice to share. Now, I don’t know if this is any true but I want to post it anyway because I wondered the same thing a gazillion times! (didn’t you?)

If you have a way to confirm this, please do share!

And in the same way, if you have a way to invalidate this information, please do share 🙂

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WHY THERE’S NO MERCURY DRUG IN SM MALLS?
Henry Sy, Sr. (born December 25, 1924) is a Chinese Filipino businessman with interests in retailing, real estate, hospitality, banking, mining, education including healthcare services. He pioneered

the establishment of SM Malls, anchored by Shoemart Department Store and Supermarket earning him the title; the Philippines’ Retail King. He is the chairman of SM Prime Holdings, Inc., the holding corporation for all his business interests in his vast business empire. In 2011, Forbes Magazine listed him as the no. 1 billionaire in the Philippines.

Have you ever wondered why there is no Mercury Drug in SM Malls here in Philippines? well… here’s the story…

Mr. Sy was a very ambitious man. He wanted to get rich more than 2 decades ago. He tried many businesses to get enough income but failed. After trying so hard to make both ends meet; he finally have earned enough money to start a small business.

Something crossed to his mind. He will build a small shoe store. He thought how could he get some customers.

An idea popped out.

He noticed that Mercury Drug, which is big drug store and been to the business for many years, has many loyal customers coming to them. He approached the owner and asked if he can rent and place his small shoe store there even with a very small portion. He was not allowed and got embarrassed even though he asked politely.

Mr. Sy then promised to himself that Mercury Drug will never step in his life when he gets rich. So in 1958, Mr. Sy established his shoe store in Quiapo, Manila, which became SM Quiapo, the first SM Mall, in November 1972.

Now, Mr. Sy is the richest man in the Philippines because of his own will and determination, gaining $5 billion in 2010, amid the global financial crisis. He is also the owner of Chinabank and operator of BDO. Aside from his numerous malls, supermalls and supermarkets in the Philippines, he also owns 6 SM Malls in Mainland China, and 1 SM Mall in Guam.

Now he never lets a single Mercury Drug do business in any of his SM malls. Instead he franchised Watson’s from Hong Kong which became the substitute for Mercury Drug.

– The Pooch (junior admin III)

About the author

Renz

Mom to 2 awesome girls, P & L. WAHM for 15 years and then sometime on those years, I opened a small condo and office cleaning business. Today after 10 years, our cleaning service company has been a consistent leader in the industry. Shortly after, I started to train housekeeping teams and other up and coming cleaning service businesses. That's just the start. Follow me as I walk along my entrepreneurial journey. I hope you'll learn a thing or two from my experiences. Oh and I'm not a boring person, I am a gamer in the side :D So you'll read a few game insights here and there.

5 comments

Joan R. Fajardo says: April 7, 2013 at 12:20 pm

He really stick to his promised that mercury drug will never step in his life when gets rich. Good for him that he gets rich and create job to help many of our fellowmen. i love SM mall kahit wala pera malling lang ayos na. Sana in God's time may Mercury drug na, sign that bitterness is off and healed. hope so….

Shirley says: July 30, 2013 at 12:32 am

For me kung ako si mr. Sy i let mercury do business with him for them to realize na ako itong dati na di nyu binigyan ng pagkakataon na ngayon ay nagbibigay naman ng pagkakataon sa inyu.