Story Of Henry Sy , How He Started His Multi BIliion Worth of Company With Just 10 Centavos Capital


 Henry Sy and his legacy will forever remain in the history of the Philippines. How his capital of 10 centavos turned out into a multi-billion worth of company. Let’s all have a recap of Henry Sy’s rags to riches story.

“Sobrang nakaka inspire ang kwento nitong si Henry Sy, akalain mo sa puhunan na centevos ay napalago nya ito hanggang sya ay mapabilang sa pinaka amyamang tao sa Pilipinas” Netizen shared his amazements after he read Henry Sy’s story. “Sana All” he added.

Born in a province of China, Xiamen to be exact, Henry Sy and his family moved to the Philippines hoping to have a better future. In the Philippines, Henry’s dad became a proud owner of a small sari sari store in Manila, unfortunately the small store which was the main source of their family income was destroyed during WW2. With just nothing left on their pocket, Sy’s father was forced to move back to Mainland China while Sy stayed in Manila.

Despite having only ten centavos, Henry Sy was determined to become successful. He worked all day and all night to survive. He studied English and Tagalog to help him cope with language and culture barrier. Few years later, the hardworking Henry Sy earned a commercial studies degree from Far Eastern University. The young entrepreneur used his knowledge and experience entering the shoe selling business. His first strategy was to sell surplus GI Boots. This was the day when the first Shoemart was born.

source: SM Investments

source: SM Investments

After Henry Sy married a lace vendor, Felicidad Tan, he ventured to different products. Shoemart was officially changed its name to SM Department Store.

On 1967, Sy bought Acme Savings Bank  Banco De Oro) , a wise move to separate himself to competitors. Few years later, Henry Sy also bought Isetann, Renpson and C.O.D. In 2006 Sm Acquired and merged to Equitable PCI bank with BDO.

After the opening of SM North Edsa on 1985, many other branches have followed. Sm Sta Mesa in 1990, Sm Megamall in 1991 and SM City Cebu in 1993.
Story Of Henry Sy , How He Started His Multi BIliion Worth of Company With Just 10 Centavos Capital Story Of Henry Sy , How He Started His Multi BIliion Worth of Company With Just 10 Centavos Capital Reviewed by Boom on 2:45 AM Rating: 5

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