SM rides beauty, wellness boom with expanded retail offerings

The SM Group is stepping up its presence in the fast-growing beauty and wellness market as it broadens its nationwide retail footprint to meet surging consumer demand.

SM Beauty, the group’s dedicated beauty retail arm, now carries more than 1,000 brands across its 77 branches nationwide.

Premium international labels

Its portfolio has also expanded to include premium international labels such as Yves Saint Laurent, Lancôme and Calvin Klein.

Select branches now feature “beauty hubs” — specialized spaces offering services like hair coloring and makeovers, guided by an increasing pool of professional beauty advisers.

Significant growth

“Beauty and wellness have shown significant growth across every demographic,” SM Retail President Jonathan Ng said.

“At SM, we will continue to be at the forefront of meeting customers’ evolving preferences by offering enriching experiences through suitable and unique products and services,” he added.

The move comes as the beauty and wellness segment continues to expand globally. Data from the Global Wellness Institute shows that the worldwide wellness economy is projected to hit nearly $9 trillion by 2028.

Strong player

The Philippines has emerged as a strong player in this space. In 2023, the country ranked 13th among 218 economies in the personal care and beauty category, highlighting both the size of its consumer market and the influence of its young, wellness-conscious population.

Watsons Philippines, also part of the SM Group, is supporting the expansion with exclusive skincare lines, health services, and sustainability-driven in-store innovations as it continues to open more branches across the country.

With consumer demand showing no signs of slowing, SM said it aims to shape the future of beauty and wellness retail by offering more product choices, deeper in-store experiences, and greater accessibility for Filipino shoppers nationwide.