COVER STORY
Forty Years of SM Supermalls and the Leader Shaping Its Future
By Mayan G. Sangil Co-Editor in Chief, Philippine Retailing Magazine PRA Deputy Secretary General
Shopping in the Philippines is nearly synonymous with malling at SM, a brand that has grown alongside the nation. Fresh from celebrating its 40th year in 2025, SM Supermalls continues a journey deeply intertwined with the lives of millions of Filipinos.
From its humble beginnings as a single shoe store, SM has evolved into the country’ s most iconic retail destination, redefining how Filipinos shop, dine, celebrate, and build community.
As SM Supermalls turns 40, its story continues to evolve, carried forward by a new kind of leadership, one that blends global perspective with a Filipino heart.
Leading with Head and Heart
Before becoming President of SM Supermalls, Steven Tan built a career across different markets, gaining a deep appreciation for what connects people across cultures.“ Working in diverse markets has taught me that while cultures differ, people everywhere seek the same thing-meaningful experiences,” he shares.“ My time abroad helped me see retail not just as transactions, but as relationships built on understanding human behavior.”
That mindset shaped how he leads today, blending global best practices with what he calls a“ distinctly Filipino heart.” For Tan, effective leadership means finding balance.“ It’ s about leading with both head and heart,” he says.“ Balancing innovation with empathy, and data with intuition.”
At the helm of this continuing evolution is Steven Tan, President of SM Supermalls, whose leadership bridges legacy and innovation. A visionary guided by both head and heart, Tan has steered SM through transformation while remaining true to the founding philosophy of Mr. Henry“ Tatang” Sy, Sr., which is to make shopping accessible and meaningful for every Filipino.
“ Turning 40 is a powerful milestone,” Tan reflects.“ For SM, it’ s more than a number. It’ s a story of how retail became part of Filipino life. This anniversary is both a tribute to our past and a promise for the future – that we will continue evolving with our customers, always All for You.”
SM at 40: A Story of Connection and Growth
For four decades, SM Supermalls has been part of the rhythm of Filipino life. It has witnessed different milestone celebrations, weekend bonding moments, and ordinary days turned special. More than just a retail center, SM has become a shared space where people and communities connect.
“ SM has become deeply woven into the fabric of every Filipino life,” Tan reflects.“ From weekend family outings to student hangouts and community events, our malls have become that third space for Filipinos – a place that connects home and work.”
This connection didn’ t happen by accident. Behind every new concept and every transformation is a deep understanding of what Filipinos value most – time, togetherness, and experience. From its first mall in 1985 to today’ s expansive network across the country and even beyond its borders, SM has grown not only in scale but in significance, helping shape local economies and uplifting countless communities.
His journey with SM began with a single, serendipitous conversation.“ It was actually Mrs. Tessie Sy-Coson who called me and asked if I wanted to work with SM,” he recalls.“ That conversation changed everything.” Drawn by SM’ s clear purpose, which is to serve every Filipino through a world-class shopping experience, Tan joined the organization and quickly found alignment with its mission and culture.
Through the years, he has brought a modern sensibility to the business while keeping its human essence intact. His leadership is defined not just by growth, but by connection. Understanding what inspires people to come together, and how retail can continuously adapt to serve them better.
“ Relevance, innovation, and empathy guide me daily,” Tan shares.“ Relevance means putting your ears on the ground, listening to our customers— when they started valuing experiences, we transformed our malls to reflect that. Innovation is why we pioneered concepts like SM Mall of Asia’ s FIFA-grade football field and Sky Park, and empathy keeps our culture grounded— especially during the pandemic, when our teams worked tirelessly to keep malls safe and tenants supported.”
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