SM named 9th-best retail brand in Asia-Pacific
Retail giant SM was cited as the ninth-best retail brand in Asia-Pacific—the only Philippine brand to land on Interbrand’s top 30 list for the region. Photo from SM City North Edsa website
MANILA, Philippines—Retail giant SM was cited as the ninth-best retail brand in Asia-Pacific—the only Philippine brand to land on Interbrand’s top 30 list for the region.
According to the Best Retail Brands 2014 report of global consultancy company Interbrand, SM’s brand value this year rose by 11 percent to $1.041 billion.
According to Interbrand, its report’s brand valuation methodology “determines, in both customer and financial terms, the contribution of the brand to business results.”
“SM has performed well despite the growing strength of local competitors and the emergence of both regional and international players,” Interbrand said.
The country’s leading retailer has more than 200 department stores, hypermarkets, neighborhood grocery stores and supermarkets.
“With a clear goal to become a world-class Filipino retailer, SM is stepping up its game with the 48 malls it operates in the Philippines and five malls in China,” Interbrand said.
The company of the Sy family has “enormous potential for expanding its footprint” outside the country, said Interbrand.
According to the global consultancy company, last year’s opening of SM Aura Premier in Bonifacio Global City “generated buzz as ‘the new urban market,’ offering international gourmet fare” as well as locally produced favorites from different provinces.
SM Aura also provides “an around-the-world shopping experience—a unique and much welcomed concept in the Philippines,” it added.
Australian grocer Woolsworth was Asia-Pacific’s top retail brand with a brand value of $4.948 billion, followed by Japan’s Uniqlo, Australia’s Coles, South Korea’s Lotte and Hong Kong jeweler Chow Tai Fook.
Rounding up the region’s top 10 were Singapore’s Fair Price, Japan’s Lawson, Australia’s Bunnings Warehouse and Indonesia’s Matahari.
On a per sector ranking, SM was included in the “grocery” category, where it ranked fourth in Asia-Pacific behind Woolsworth, Coles and Fair Price.
