Alleged Reason Why There’s No Mercury Drug in SM Malls, Is it True or Not?
UNTOLD STORY – Here is the alleged reason why there’s no mercury drug in SM Malls in the Philippines.
Mr. Sy was a man with big goals in the early 1950s. He desired financial prosperity and worked relentlessly to obtain it. Despite numerous business failures, he persisted in his search for financial freedom.
As he looked for the ideal business opportunity, he noticed Mercury Drug, a well-established and popular drugstore with a dedicated customer base. He had an idea: he would go into the shoe retail sector and create a small shoe store.
But Mr. Sy faced with a problem on how would he attract consumers to his new shoe store? He reasoned that the answer could be found in the bustling development of Mercury Drug.
He contacted the owner of Mercury Drug with optimism and enthusiasm, asking politely if he may rent a small portion of the store to set up his shoe business. Unfortunately, his request was turned down, leaving him embarrassed and dejected.
Instead of giving in to disappointment, Mr. Sy made a pledge to himself: Mercury Drug would no longer have a part in his life once he reached success.
This promise inspired his determination, and in 1958, he took the plunge and opened his shoe store in Quiapo, Manila, which ultimately became SM Quiapo, the first-ever SM Mall, in November 1972.
Mr. Sy’s entrepreneurial path has no limitations from that point forward. He developed SM Quiapo into a booming mall empire with unwavering dedication and a strict work ethic, becoming the richest man in the Philippines a few years ago.
Aside from SM malls, he also owns Chinabank and operating BDO and even expanded abroad.
Amidst his impressive successes, Mr. Sy remained true to his promise – Mercury Drug would not find a place in any of his SM Malls. Instead, he franchised Watson’s from Hong Kong, offering customers an excellent alternative to Mercury Drug.
However, because SM Malls have Watsons, the rumors are uncertain. According to reports, SM management and Mercury Drug Store were unable to reach an agreement on renting terms.
Just express your thoughts and reactions about this topics.