SM Investments Corporation (SMIC), also known as SM Group, is a Filipino conglomerate with interests in shopping mall development and management, retail, real estate development, banking, and tourism. Founded by Henry Sy, it has become one of the largest conglomerates in the Philippines, being the country's dominant player in retail with 208 stores nationwide. Of these, 47 are SM Department Stores; 38 are SM Supermarkets; 37 are SM Hypermarkets and 86 are SaveMore branches. It is the largest company in the Philippines in terms of market capitalization, and has repeatedly ranked as the top Philippine company in the Forbes Global 2000. History In 1958, Henry Sy Sr. started his first company, ShoeMart (SM), a small shoe store in Carriedo, Manila,Phillipines. He initially focused on buying large supplies of shoes from the United States. His business expanded as he transformed his shoe store into a department store. At this point, Sy set up his second company, SM Department Store Inc. , and began selling stocks to department stores. In 1978, he began buying supermarkets at the northern end of EDSA in Quezon City. During the 90s when he opened SM Megamall, his companies were listed in the Philippine Stock Exchange, SM Prime Holdings Inc. By 2005, the SM Investments Corporation was inaugurated. In April 2017, SMIC appointed Jose Sio as CEO. Subsidiaries Retail SM Markets - a chain of food retail stores consisting of SM Supermarket, SM Hypermarket and Savemore. SM Store - a department store Walter Mart - a shopping mall owned by a joint venture between SM and a local company. Alfamart - a convenience store owned by a joint venture between SM and an Indonesian company. Specialty Stores - SM operates leading local retail chains such as Ace Hardware, SM Appliances, Homeworld, Our Home, Toy Kingdom (International Toyworld Inc.), Kultura, Baby Company, Sports Central, Pet Express, Miniso, Watsons, Uniqlo, etc. Gentree Fund - a venture capital fund investing in early-stage all the way to pre-IPO companies. Banking BDO Unibank - one of the largest banks in the Philippines ChinaBank - the first privately owned local commercial bank in the Philippines - (SM owns 30% of the company) Property SM Supermalls - the shopping malls of SM Investments Corporation is operated by its subsidiary, SM Prime Holdings. SM Development Corporation (SMDC) - is a residential property developer which focuses on the premium middle market. SMDC now operates SM Residences