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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-EPCI Bank and majority share in China Bank.

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The partnership lasted for more than 40 years until the shoe store had to give away to the building renovations of the lessor.

After the war ended in 1945, he ventured into selling American shoes imported by enterprising Gis.

With the success of that store, he went on to open more shoe stores, but he could not get enough suppliers.

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.

This on-the-job research gave him enough confidence to expand to a department store chain.

Many things in life grow out of needs, and to meet the needs, you become determined.

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.

It is a rags to riches story that even myself did not realize until I went to trace his roots in China.

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