The founding father of Philippine retail, Henry Sy, has passed away.

Sy, who has topped the Philippines Rich List for the last seven years, was chairman emeritus of SM Investments, one of the country’s largest business conglomerates.

A Chinese immigrant who arrived in the Philippines at the age of 12 with his parents, his introduction to retailing began with helping out in his father’s neighbourhood store. He saved enough money to open a shoe store which he named ShoeMart, and whose initials later became the most recognisable brand name in the nation.

Read more: https://insideretail.asia/2019/01/22/henry-sy-passes-away-aged-94/