PH franchise group honors 'King of Retail' Henry Sy Sr

Jessica Fenol, ABS-CBN News

Posted at Mar 27 2019 03:44 PM

MANILA - The Philippine Franchise Association on Wednesday honored SM founder Henry “Tatang” Sy Sr with the first PFA Legacy Award.

Sy, founder of the country’s largest mall operator SM, died last January at the age of 94.

During the opening ceremony of this year’s Franchise Asia 2019, PFA president Richard Sanz said Sy “laid the cornerstone for the advancement of the country’s retail sector which enabled the franchising sector to expand and maximize its market reach.”

Sy not only revolutionized mall development in the country but also influenced the shopping behavior of Filipinos, Sanz said.

SM Investment Corp vice chairperson and Sy’s daughter Tessie Sy-Coson along with Sy’s longtime associate, SM Investment Corp chairman Jose Sio, accepted the award.

Sy’s brainchild, SM Supermalls, has 72 branches in the Philippines and 8 in China. 

SM Supermalls is set to deploy robot concierges this year, as part of Sy’s plan to use technologies such as artificial intelligence in his mall empire. 

From Friday, March 29 to March 31, the PFA will be hosting the “Asia’s biggest” franchise expo at the SMX Convention Center at the Mall of Asia Complex.

Over 700 homegrown and international brands in the food, retail and service sectors are expected to participate in this year’s event.