To many Filipinos, taipan Henry Sy Sr. is more of a legend — the Chinese immigrant who went on to establish the giant SM retail chain through dint of hard work and unshakable belief in the growth prospects of the Philippines.
But to the entrepreneurs who were fortunate enough to have personally known him, Sy was so much more than just the Father of Philippine Retailing, who eventually became the country's wealthiest man and founder of one of the country's largest conglomerates with interests not just in retail but also in banking, property and infrastructure development.
To this lucky band of enterprising individuals, Sy, fondly called "Tatang," was very much human, a warm and generous spirit who was a constant source of motivation, a visionary who helped them on their own journey into becoming leaders and trailblazers in their chosen markets.
Precy Ramos, who worked side-by-side for many years with her mother-in-law and National Bookstore founder Socorro Ramos, recalls fondly how Tatang personally supervised the construction of SM North Edsa — the first SM Supermall that opened in 1985 — with an eagle eye on the smallest of details to make sure that they were up to his exacting standards.
Tatang also made the extra effort through many years to ensure that SM malls would have the right space for a National Bookstore, a revered name as well in Philippine retailing.
This solid partnership was a testament to the close personal and professional relationship that Tatang had shared with Nanay Coring who saw Tatang flourish from their early days in what used to be the commercial district of Avenida.
"During Tatang's 80th birthday celebration, for example, he sent somebody over to get Nanay. She sat beside him [during the party], katabi niya the whole time," shared Ramos, "They really had a lot of respect for each other."
Tatang's close attention to detail likewise struck Bernie Liu, Chairman and CEO of the Penshoppe Group, the proudly Filipino-owned and run fashion enterprise behind such brands as Penshoppe, OXGN, Regatta, Forme, Memo and Bocu.
Liu can still vividly remember how Tatang would walk around the department store — where Penshoppe started in 1986 – with a team behind him noting his observations and taking down his instructions.
"He was very particular about the display. I remember when we opened our display module in SM Makati, there was a portion that he thought was too dark. He said that should be changed." Liu said.
He added that Tatang was "really hands-on and very down to earth."
Liu noted that it was largely expected that successful people like Tatang would control his growing enterprise from an ivory tower. But that was not Tatang's style. He preferred instead to walk the floor and keep his ears close to the ground in anticipation of the next growth opportunities.
The Penshoppe Group believed in that growth vision, too, a major reason why they have made it a point to open their stores together with the new mall. Today, the Penshoppe Group has over 350 sites in SM malls across the Philippines, accounting for about a third of its extensive national footprint.
"They've always been part of our growth. I always tell their team, if you invite me, of course I will go," said Liu.
Like Liu and Ramos, Victor Siasat, CEO of Trimark Group Holdings that represents over 50 leading international brands across a wide range of industries from high fashion to streetwear, fitness and new media, deeply admired and respected Tatang's famous attention to detail.
Siasat recounted with a smile how Tatang had instructed his son, Harley, to sell to him the glass enclosure that had been left behind by a former tenant of the space that he was eyeing for the second branch of Guess at the annex of SM North Edsa.
What struck him then was that Tatang, despite the success that he already had then in 1991, still remembered minute details such as glass enclosure that other executives in his high position and lofty status would not even bother knowing.
"In Chinese, we have a saying, do not look at people's wealth; look at how they worked for it. For me, that [experience] was the epitome of that. Mr. Sy was already wealthy, but he still remembered that. He really took business very seriously," said Siasat, whose brands include Guess, Mossimo, Mango, Vans, Carolina Herrera as well as Gold's Gym and employs some 5,000 people.
Toby's group founder and chairman emeritus Roberto Claudio, for his part, remembers Tatang for being encouraging to entrepreneurs like him who were just starting out in the retail world when they were invited to lease space at SM North Edsa.
"He was really an inspiration, he would always prod you on when you talk to him about potential problems or when you are having doubts," shared Claudio, "He would always say, don't mind the problems, face them, go around them. I am sure you will succeed."
Fortunately, the Claudio family heeded Tatang's sage advice to persevere and forge ahead through hard work, grit and perseverance. This helped the Toby's Group grow into a network of 68 branches, more than half of which are in the SM Malls.
"He told us then, huwag kayo matakot sa failure. You guys are young, you can afford to fail. If you just persist, you will succeed," said Claudio, who also heads the Philippine Retailers Association.
Kultura president Ivy Yap, for her part, met Tatang in her early 20s, when she joined SM's boutique department after exchanging a career in the banking industry for one in fashion and merchandising.
"At the time, as it still is now, SM was the top shopping mall chain in the country. I was confident that joining this diversified and fast-growing company, under Tatang's powerful and visionary leadership, was a great step for my career. And more than 30 years later, I know I made the right choice," Yap said.
She described Tatang as a storyteller, a teacher and a visionary who was more than willing to share the story of how he started, and how hard he worked for everything he did.
"One of my most vivid memories was when he showed us this painting in his office that depicted horses galloping, and he told us that that painting personified him, his personality, character, and pursuit of his dreams," she said.
Indeed, Tatang's determination and passion empowered him to overcome obstacles and deal with whatever difficulties he encountered in pursuit of his goals.
"That was an incredibly valuable lesson for me — to never let optimism flag in the face of adversity, and seek opportunity amid difficulty," said Yap, who worked her way up over her 30 years in the SM group to become president of Kultura.
Guided by Tatang's spirit of entrepreneurship, Yap and her team were able to build Kultura into an industry leader in its niche market, being the most recognized and trusted shopping destination for everything uniquely Filipino, thus providing an avenue for artisans and small and medium scale enterprises to showcase their artistry.
Helping her execute that vision is her daughter, Patricia, who has joined the merchandising team, working to bring more uniquely Filipino products to Kultura stores nationwide.
Patricia said that as a young professional, she is most inspired by Henry Sy Sr.'s grit.
"The way he transformed SM from a small shoe store into one of the country's largest retailers has always served as a constant reminder for me to always see the silver lining, seize opportunities, and pursue my aspirations with the same kind of grit," she said.
Her mother concurs, adding that if there is one lesson that entrepreneurs should take to heart, it is this: "If you will it, it will happen."
"Nothing is impossible with the right vision, execution, and dedication," said Yap, who is determined to further build on the success of Kultura which over almost 20 years has grown into a network of 50 branches with at least three more to open in 2024.
In honor of its 65th anniversary, SM is reconnecting with their tenants, who have gained valuable insights from Tatang.