Mr. Sy, who is considered the visionary of Philippine retail because of the innovations in the industry, conceptualized a chain of shoe stores, each characterized by a distinct merchandising lay-out never before attempted in the country.

The company expanded its shoe store chain in the 1960s. It was one of the pioneers in the new urban centers when it opened bigger shoe outlets in the Makati Commercial Center in 1963, and in Cubao in 1967.

In the 1970s, Shoemart marked its shift from a shoe store to a full department store - SM Manila in Echague in 1972 and SM Makati in 1975. The shift also marked a change in corporate identity. Shoemart became also known as "SM Shoemart" or simply "SM", a name that has become synonymous with one-stop shopping excitement.

SM positioned itself for growth in the 1980s, diversifying into the supermarket and appliance store business. Late 1985 marked the opening of a shopping mall, the SM City.

SM emerged as a key player in the shopping center industry, giving rise to the malling phenomenon in the Philippines. In 1994, the SM Group established SM Prime Holdings, a publicly listed company that owns and operates world class supermalls.

Today, SM is a dynamic group of companies with core business in the retail merchandising and shopping center industries. Its retail component includes the SM Department Store chain, which has become part of the lives of so many Filipinos.