Henry Sy, Shoe Mart. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. It did not take a long time for him to realize, however, that he can only do so much in a sari-sari store environment. Sa mga diskusyon ng negosyo, sa mga usapin ng pagtitiyaga, sa mga debate ng pagsisimula nang maliit, ang unang papasok sa isip mo ay si Henry Sy. Henry Sy's success … Born in Fujian, he moved with his family to the Philippines at age 12. Chinese immigrant Henry Sy survived the loss of his father’s two sari- sari stores at the close of World War II eventually install … 2018 - 2019 His net worth is $9.1 billion in 2012 to $13.2 billion in 2013, thus making him the 68th wealthiest person in … Pumanaw sa kaniyang pagtulog nitong Sabado ang pinakamayaman at kilalang negosyante sa bansa na si Henry Sy, Sr. sa edad na 94. Sy’s success has only increase his fame and clout. “I did not want to ask more money from my father, who was working so hard. We also have to continuously innovate. WWII came and the sari-sari store was looted and burned. Henry Sy, known as the “Father of Philippine Retail” and the #1 Philippines’ richest man, was born October 25, 1924 in the village of Ankhue, in the Jinjiang county (now city) of Fujian province, south China. This youth, who was undaunted by hardships, who had grand vision, perseverance, frugality and extraordinary work ethic, is ranked the Philippines No. He had many obstacles – both external and internal – in his business, and there were times he could not understand why things had to be so complicated for him to pursue his business objectives. The group’s retail chain include Star Appliance Center as well as stores dealing in hardware products, appliances, toys, home and lifestyle products, health and beauty products, export- overrun clothes and fashion accessories. His net worth is $9.1 billion in 2012 to $13.2 billion in 2013, thus making him … “My father decided to go back to China and asked me to join him, but it was my opportunity to start a business; I decided to stay behind. He is known as the richest Filipino, the King of Retail, a business icon, and a good friend to other conglomerates and businessmen. Here are three unbelievable money success stories in the Philippines worth reading about. SM is more than just a shopping mall. Sy, migrated in the Philippines when he was twelve and started working for his father’s small sari-sari store located in Quiapo, Manila. For a time, he was selling a lot of shoes, accessories, and leather goods, hoping to change the way shoe manufacturers look at the industry. Create a free website or blog at WordPress.com. This is another inspiring story as we witness his rags to riches story on how he built all SM Malls and became one of the biggest bankers enabling him to become the richest man in our country surpassing both Lucio Tan and the Ayalas. Because my dad felt the tsunami-like effects of the region wide crisis, which was unlike any other he had experienced, we had to change plans. —The Manila Times, Copyright 2005-2016 by Filipino Motivational Speaker in Manila, Philippines. Bukod sa kaniyang pagpapatayo ng higit 50 branch ng SM malls sa bansa, kilala rin si Sy sa kaniyang hakbang para matulungan ang maraming estudyente na maging iskolar. He survived other crises as well: the late dictator Ferdinand Marcos’ declaration of martial law (1972), the chaos following opposition leader Benigno Aquino Jr’s assassination (1983), the military coups against the Aquino administration (1987- 89), and the Asian financial crisis (starting 1997). The Best Filipino Motivational Speaker in Manila, Philippines, Asia | Inspirational Corporate Trainer Manila, Malaysia, Vietnam, Brunei, Thailand, South Korea | Sales Keynote Speaker | Personal Branding | Internet Marketing Expert Consultant, Lloyd Luna is a popular Filipino motivational speaker in Manila, Philippines and inspirational author in Asia, "Lloyd Luna is one of the best Filipino motivational speakers in the Philippines in his time." Siya ang pinakamayaman sa Pilipinas sa loob ng sunod-sunod na labing-isang taon ayon sa tala ng magasin … While other young men went to the US to pursue a higher education, he went on a long business trip to the East Coast, and came home with a lot of merchandising ideas. He is no other than Henry Sy, the retail magnate who owns all established 33 SM Malls and also a banking magnate who owns Banco De Oro-Equitable-PCI Bank and majority share in China… He lasted only two years as a result of pressure from his growing business. 10 PINAKAMAYAMAN SA PILIPINAS | Top 10 Richest … Change ), Inspirational Stories of Self-Made Filipino Entrepreneurs, John Gokongwei: From Soap Peddler To Billionaire. We opened our first department store in 1972, two months after Martial Law was declared. Alfredo M. Yao, Zest-O. Henry Sy of SM Prime Holdings, BDO, ChinaBank. Let us all be inspired by his rags to riches story as his daughter Teresita Sy-Coson narrates the story … In 2002 he astounded most analysts when he tapped Asia’s wealthiest billionaire, Hong Kong’s Li Ka-Shing, to invest in the Philippines through a joint venture between the SM group and Li’s Watson retail chain. We have also expanded our retail business beyond department stores to include supermarkets, hardware stores, appliance superstores, and other retail formats. THE FILIPINO business community has lost one of its strongest pillars with the demise on Saturday of property and banking taipan Henry Sy Sr., patriarch of the SM group. He also managed to earn a spot-on Forbes' Philippines’ 50 Richest in 2016. How many SM stores have you gone to? Henry Sy, known as the “Father of Philippine Retail” and the #1 Philippines’ richest man, was born October 25, 1924 in the village of Ankhue, in the Jinjiang county (now city) of Fujian province, south China. The partnership lasted for more than 40 years until the shoe store had to give away to the building renovations of the lessor. When we started the construction of our first mall in 1983, the Philippines was in the midst of a debt moratorium and experienced hyper inflation. Henry Tan Chi Sieng Sy Sr. (Tagalog: ; Chinese: 施 至 成; pinyin: Shī Zhìchéng; Pe̍h-ōe-jī: Si Chì-sêng; December 25, 1924 – January 19, 2019) was a Chinese Filipino business magnate, investor, and philanthropist known for his involvement in the Philippines' retail industry. I want to make things happen.”. The entire family left China for good in 1936, so they could be with their family patriarch who was then a proprietor of a thriving variety store in Manila. (As told by Henry Sy’s son) Today, I’m now going to feature the life story of the richest man in the Philippines. Unaffected by criticism, and armed with sheer determination and optimism, he persisted and opened in 1985 with our department store and supermarket and a few tenants. Change ), You are commenting using your Facebook account. SM also operates the Philippine’s largest chain of cinemas. In the meantime, be inspired of these stories from 10 of the most successful entrepreneurs in the Philippines. The boy never imagined that he would get to meet and know all Philippine Presidents in the course of his business career). On reaching grade 4, Sy asked his teacher if he could be accelerated, and his teacher agreed provided he attained a minimum grade average of 90 percent. ... Henry Sy was born into a poor family in in Xiamen, China on October 15, 1924. Group Leader Henry Sy Success Story: Father of Philippine Retail (Philippines Richest Man) Henry Sy, Sr. is the richest man in the Philippines, according to Forbes Magazine on their 2013 survey. Henry was born on 1923 in Xiamen, China. Jul 17, 2017. Sy’s life is a true rags-to-riches story, a Chinese immigrant who saw vast opportunity in a foreign land, transforming in the process the Philippine economy and […] Many bankers predicted our demise because my dad came from nowhere – he may had a few department stores and shoe stores at that time, but he was not one of the financial heavy-weights at that time. His journey from the thatched hut I saw there to the shopping centers he has today is something that amazes even myself. More than 40 years later, on January 30, 1999, De La Salle University conferred on him an honorary doctorate in business management. While crises may have brought opportunities, we continue our plans in good or bad times with some changes to suit our demands of the time. As a final note, I would like to leave this quote from Henry Sy: ““There is no such thing as overnight success or easy money. My father was pained by the hardships, but I never lost hope.”. The expansion was not without difficulties. We will look into the business success story of a Filipino entrepreneur, Henry Sy, in this article by Wilson Lee Flores, entrepreneur magazine. There, he devised ways to increase his income by developing small portions of products – much like the sachets we see today in the supermarkets. Later, we expanded, slowly building malls at that time to get our formula right. In comes, Jan Sy, the eldest daughter of Bilyonaryo Henry “Big Boy” Sy Jr. We deferred opening the Mall of Asia, and went on with the opening of other malls. Transforming problems into opportunities can bring good returns. (The holding firm for the group, SM Investments Corp., was incorporated in 1960. This on-the-job research gave him enough confidence to expand to a department store chain. Henry Sy Success Story: Father of Philippine Retail (Philippines Richest Man) Henry Sy, Sr. is the richest man in the Philippines, according to Forbes Magazine on their 2013 survey. 1 wealthiest, Henry Sy… He returned toschool in the early 1950s, enrolling at the Far Eastern University in Manila, in hopes of securing a degree in commerce. I was not first in academics, but I was the group leader.”, Near the end of the war, one of the elders Sy’s stores was burned down and the other looted in the chaos. 5. During his teens, his family decided to move in the Philippines and his father put up a small variety store in Manila. The economy decline was further aggravated by the assassination of Ninoy Aquino. The life of Henry Sy, Sr. who died at the age of 94 is some kind of a fairy tale, a simple rags-to-riches story. Sa tuwing magbubukas ng mga magazine, mga libro at mga babasahin tungkol sa success story, makikita mo ang mukha niya. His net worth is $9.1 billion in 2012 to $13.2 billion in 2013, thus making him the 68th wealthiest person in the world. After the war ended in 1945, he ventured into selling American shoes imported by enterprising Gis. Henry Sy, Shoe Mart. Self-made billionaire Henry Sy’s rise from being a penniless Chinese immigrant to becoming the richest man in the Philippines for eleven years in a row has inspired a lot of people. ( Log Out /  Change ), You are commenting using your Google account. He is known as the richest Filipino, the King of Retail, a business icon, and a good friend to other conglomerates and businessmen. A Short Film Presentation for Animation 1 by Group 5 of ICT 11 - 02 from UPHSD Molino Campus S.Y. Many things in life grow out of needs, and to meet the needs, you become determined. Opportunity is where you find it, not where it finds you. We feel that the country will always be around, and with Filipinos’ love for shopping, there will always be customers we can sell to. Henry Sy Sr. Shī ZhìChéng, (Henry’s Chinese name), was born on December 25, 1923, to an impoverished family in Jinjiang, a town near Xiamen, China. He was already 12, but he had to start from grade one when he enrolled at the Quiapo Anglo- Chinese High School, where his classmates were younger and smaller. The business had a slow start, but progressed steadily. GMA is a leading network in the Philippines and he has received multiple awards celebrating the success. Success is not just good luck: it is a combination of hard work, good credit standing, opportunity, readiness and timing. Life wasn’t always easy for Henry —with poverty, he had to sleep inside the store. Sy’s SM Group of Companies, one of the Philippines’ biggest conglomerates, started as a shoe-retailing store on Carriedo Street in Quiapo, Manila. Many shoe manufacturers at that time could not understand why they had to listen to this shoe retailer who had very definite ideas on what he wanted to sell. And now for the biggest of them all. Since that time, he has not faltered in his confidence, and became even more determined to continue the business. Born on Christmas Day, 1923 in Xiamen, China, Henry Sy was introduced to retail early despite the poverty. Henry Sy, who turned a shoe business into SM Investments, one of Philippines' largest conglomerates, died at age 94 on January 19, 2019. SMIC became public in early 2005, raising nearly P25 billion in new money that many believed the Sy family will use to expand its portfolio investments and acquisitions). It acquired the Dao Heng Philippines branch, the First eBank, the Banco Santander Philippines branch, the United Overseas Bank branches, and most recently – Equitable PCI Bank. This must have provided him the hands-on training for his stamina in business. Henry Sy ShoeMart. Henry Sy. Tel. Success and Inspirational Stories Monday, December 2, 2013. (One of his fondest memories of the pre- war era was joining a crowd of onlookers at the inauguration of Quezon Bridge in Quiapo, Manila, with the guest of honor, the flamboyant President Manuel L. Quezon, wearing his famous safari hat. Indeed it is in the mall business that Sy has eminently distinguished himself. Henry Tan Chi Sieng Sy Sr. was a Chinese Filipino business magnate, investor, and philanthropist known for his involvement in the Philippines' retail industry. We grew in numbers instead of size, serving different smaller markets. At the end of the article, you will be able to determine the ONE quality that made them succeed while others failed. Everyone knows the remarkable success story that made Henry Sy a household name, but the family legacy doesn’t stop there. True, he was disappointed with the economy many times, but he never saw the reason to quit and instead pursued his goals relentlessly. Let’s learn and be inspired from another successful entrepreneur story as his daughter Teresita Sy-Coson narrates the story of his father’s success: Our company, SM, as many of you may already know, came from the hard work of my dad, Henry Sy, Sr. “Success is not just good luck. Our other retail formats like supermarkets, hardware stores, appliance stores, home stores, toy superstores, baby stores, and Watsons are continuously evolving with the shopping habits of our customers. ( Log Out /  We will look into the business success story of a Filipino entrepreneur, Henry Sy, in this article by Wilson Lee Flores, entrepreneur magazine. 6. It also offers corporate training, business consultancy, and organizational development programs. As a final note, I would like to leave this quote from Henry Sy: ““There is no such thing as overnight success or easy money. Besides dreaming big, another secret to becoming a successful Chinese-Filipino entrepreneur is being okay with starting from the bottom. Change ), You are commenting using your Twitter account. Shoemart Inc., the Philippines’ largest chain of department stores, is an anchor tenant in all SM malls. Peaches & Cream String Quartet is a performing group of remarkably creative professional musicians with 43 years of combined experiences in pop, ballad, jazz/bossa, novelty, religious, devotional, movie themes, children, and classical music. The story of Henry Sy tells us that never give up from a failure. In 1999, the Management Association of the Philippines named Henry Sy as “Management Man of the Year.” In 2005, the Philippine Retail Association conferred him the title, “Father of Philippine Retail,” and the Hon Kong Shanghai Banking Corporation honored him as one of four Business Greats. It has become a cliche, but success came to Sy only as a result of hard work, tenacity, frugality, self- discipline, Confucian values, and an undying thirst of learning. LLOYD A. LUNA Communications Consulting Services, a Personal Development Company in Asia. Our business – especially that of shopping centers is a long term business. When the 1997 Asian crisis came, we were planning our mall expansion, including the Mall of Asia, which was then envisioned to be the biggest mall in the region. The life of Henry Sy, Sr. who died at the age of 94 is some kind of a fairy tale, a simple rags-to-riches story. Many potential lessees were saying no to lease offers. Mall of Asia He also convinced everyone of us in the organization to follow his optimism. Because we were quite conservative in lending, the deluge of bad loans that characterized the times did not affect us. He has authored ten inspirational best-selling books and has spoken to more than half a million people across Asia. Socorro Ramos: The Woman Behind National Bookstore. It takes at least eight years to pay back. 4. ... Sy is typical of Filipino economic elites driven by capitalist dogma that individual greed leads to a nation's economic prosperity. In its March 17, 2003 issue, the US business magazine Forbes listed Henry Sy among the world’s billionaires, with an estimated net worth of $1.2 billion and exceeding the fortunes of France’s Michellin, clan of tire makers; Citigroup boss Sanford Weill; publishing tycoon William Hearst III; Richard Marriott of the world- famous hotel chain; and television host Oprah Winfrey. Chinese immigrant Henry Sy survived the loss of his father’s two sari- sari stores at the close of World War II eventually install to himself as Asia’s shopping mall king. ( Log Out /  Henry Sy was born in the village of Ankhue, in the Jinjiang county (now city), of Fujian province, south of China. Jun 19, 2017. He almost gave up, but through the encouragement of his employees and customers, he continued. Chinese immigrant Henry Sy survived the loss of his father’s two sari- sari stores at the close of World War II eventually install to himself as Asia’s shopping mall king. Henry Sy Success Story: Father of Philippine Retail (Philippines Richest Man) Henry Sy, Sr. is the richest man in the Philippines, according to Forbes Magazine on their 2013 survey. We reorganized and strengthened our organizations for about three years and developed growth strategies that started in the year 2000. With the success of that store, he went on to open more shoe stores, but he could not get enough suppliers. In 1936, when he was 12, he and his father migrated to Manila and here learned the basics of retailing and good customer service in his father’s sari-sari store. At the time, our main bank, Banco de Oro was a medium sized bank. After the war, goods were in desperate supply, so the young Henry joined the booming buy-and-sell business and saved enough money for future ventures. He then decided think long term, and invest in properties for malls, which were patterned after suburban shopping centers, which he had been studying for some time. Including us, his children. “I used second- hand books and bought only a few pieces of pad paper at a time,” Sy says. He was able to make multiple sales in order to make extra income, spending so much time in the store that he had no time to go out and play with friends in the neighborhood. Success Story: Henry Sy Sr., Philippines’ Richest Man. He was the first Filipino recipient of “The Global Leadership Award for Excellence in Media Sector” awarded at the 2015 Global Leadership Awards in Malaysia. In 2001, the London- based Euromoney magazine named Sy’s retail chain as Best Retailer in Asia. In the meantime, be inspired of these stories from 10 of the most successful entrepreneurs in the Philippines. Its Makro retail chain is a partnership with the Ayala Group of companies, another Philippine giant. “We lost everything,” Sy says. He is no other than Henry Sy, the retail magnate who owns all established 33 SM Malls and also a banking magnate who owns Banco De Oro-Equitable-PCI Bank and majority share in China Bank. We will look into the business success story of a Filipino entrepreneur, Henry Sy, in this article by Wilson Lee Flores, entrepreneur magazine. Success Story of Alfredo … Henry Sy (施至成) His original birth name Sy Chi Sieng literally meant "to attain ultimate success.“ Born on December 25, 1924 Remote village in Fujian province, south China Known as the “Father of Philippine Retail” He’s net worth according Forbes is $8 billion in March 2012, #1 Philippines’ richest man 3. 179 Views. Tycoon #1: Henry Sy. He eventually completed gradschool in five years. Despite her age, this third-generation Sy has already shown glimpses that she has it next. Nos. With the pleasure of a growing family while at the same time pursuing studies at FEU in the early 50s, he sought more ways to augment his income. I can’t even keep track of my record, all I know is, there’s too many of them in the country today! In his early teens, the entire family moved to the Philippines and his father opened up a small variety store in Manila. While you’re staying focused on your goal, it’s important to think of different … May Henry Sy’s success rubs off to us as well. SuccessStory brings to you inspiring stories of people companies and products which have risen to glory. The life of Henry Sy, Sr. who died at the age of 94 is some kind of a fairy tale, a simple rags-to-riches story. 3. It is a combination of hard work, good credit standing, opportunity, readiness, and timing.” – Henry Sy Sr. Henry Sy, known as the “Father of Philippine Retail” and the #1 Philippines’ richest man, was born October 25, 1924 in the village of Ankhue, in the Jinjiang county (now city) of Fujian province, south China. At about the same time, we looked into the banking business – both at our bank and at the industry. Success Story: Henry Sy Sr., Philippines’ Richest Man We all know Henry Sy as one of the richest tycoons in the Philippines. Sangkay TV. Henry H. Sy Tan O Sia: Si Henry Sy (Tsino: 施 至 成; pinyin: ShÄ« Zhìchéng; Pe̍h-ōe-jÄ«: Si Chì-sêng; Oktubre 15, 1924 – Enero 19, 2019) ay isang Pilipinong Intsik na negosyante, mamumuhunan at pilantropo. They did not cooperate by providing him with the volume he needed, and because of that limitation, he gradually shifted to apparel – and thereafter other merchandise – with the help of my mother. Sio said Sy had often advised: “Don’t be afraid to think big, start … His mother was peddling items … Start From the Bottom. Umbrella is a personal development company in Manila, Philippines that provides motivational keynote speakers on sales conventions and other corporate events in Asia. Alfredo Yao lost his father at the age of 12. 1. The Henry Sy Story - the Father of Philippine Retail - YouTube Here we take a closer look at how they did it, as well as come up with strategies to help people reach the same level of success. It has been written – and I can attest that it is true – that Henry Sy started from the bottom. ( Log Out /  When constructing Sta. Today, I’m now going to feature the life story of the richest man in the Philippines. Top 10 Successful Entrepreneurs in the Philippines Story 1. Prosperity and growth come only to a business that systematically exploits its potentials and systematically optimizes its performances. According to Henry Sy, if you fail, never discourage but try again. Think outside the box. Sensing a lot of opportunities, he decided to open SHOE MART – “SM” – the first air-conditioned shoe store that merchandised shoes in a very inviting and classy format. Of Ninoy Aquino from the bottom China bank work, good credit standing, opportunity, readiness and timing to. Of personal loss mga babasahin tungkol sa success Story: Henry Sy as one of Richest! Not affect us bring success Billionaire in PH gratitude after the war ended in 1945, he could have to! 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