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This Is The Reason Why There's No Mercury Drugstore In SM Malls



What is The Reason Why There’s No Mercury Drugstore In SM Malls?

Mercury Drug is a pharmacy chain in the Philippines. The company began on March 1, 1945, with a single drugstore owned by Mariano Que. He named it after Mercury, the messenger of the gods in Roman mythology, whose caduceus is sometimes used as a symbol of medicine. The store began cutting packaged, bulk items into single pieces and selling them individually; this practice is colloquially called tingí-tingì in Filipino way.

Upon the invitation of Ayala Corporation, Mercury Drug opened its second branch in May 1963 at a developing commercial center in Makati now known as the Ayala Center. In 1965, Mercury Drug established its landmark branch by Plaza Miranda, Quiapo, Manila, which is notable for its large outdoor LED screen.

In 2001, then Trade Secretary Mar Roxas described Mercury drug as a "near monopoly" and said it has 70 percent share of the domestic market. As of 2017, Mercury Drug has reportedly over 1000 branches across the country. Recently, it opened a new building, MDC100, located in Eastwood City, Quezon City.

Most people don't know or might be wondering, why is there no Mercury Drugstore in SM Malls in the Philippines. SM Supermalls, owned by SM Prime Holdings, is a chain of shopping malls in the Philippines that, as of 2017, has 67 malls located across the country, with about a dozen more scheduled to be open by 2018. It also has 7 malls in China, including SM Tianjin which is the second largest in the world.

SM Supermalls has become one of the biggest mall operators in Southeast Asia. Combined, the company has about 9.24 million square meters of gross floor area. It has 17,230 tenants in the Philippines and 1,867 tenants in China. The SM Store, formerly known as SM Department Store, is a department store chain run by SM Investments, the holding company of the SM Group. The SM Store now has 59 branches across in the Philippines.

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The SM Store's merchandise revolves around 5 main worlds: Men's, Women's, Children's, Beauty, and Home. Each store is laid out to deliver convenience, value, and variety, to its shoppers, who cut across all demographics. Beyond merchandise, The SM Store provides value-added services such as ATM banking, bills payment, ticketing, remittance and money exchange, and a shopper loyalty program, among many others.

Henry T. Sy Sr. is a Chinese-Filipino business magnate, investor, and philanthropist. He is involved in the industries of real estate, hospitality, banking, mining, education, and healthcare. He is responsible for the establishment of SM Malls, anchored by Shoemart Department Store and Supermarket. He is the founder of SM Prime Holdings, the holding corporation for all his business interests in his vast business empire. In 2015, Forbes magazine listed him as the richest man in the Philippines, ahead of 11 other billionaires including John Gokongwei and Lucio Tan

Henry Sy, one day, decided to approach the owner of Mercury Drugstore if he can rent a portion of the store’s area for his shoe store. But the owner refused to let Henry Sy rent a little space for his little shoe store. Mercury Drugstore has been in business for so many years already and has many loyal customers. For Henry, it was a big opportunity for him if he was allowed to rent a small place.

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Upon getting rejected by Mercury Drugstore, Henry vowed to never let Mercury enter his life again. When he became rich and owned a lot of malls in the Philippines, he never allowed Mercury Drugstore to rent a space in his malls. Not just that, he also placed Watson’s as a substitute for Mercury Drug.

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