Find out the real reason why there are no Mercury Drugstores in SM Malls

Mercury Drugstore is one of the most popular pharmacy chains in the Philippines. It started in 1945 and solely owned by businessman, Mariano Que. He named it after Mercury, the messenger of gods whose caduceus was used to symbolize medicine. The store began with single packaged items sold individually.

Now, the company is one of the biggest medicine store in the country with then Trade secretary Mar Roxas describing the drugstore as a "near monopoly".

One might say that a strong brand such as Mercury Drug would exist in the malls of business tycoon, Henry Sy. But surprisingly, no Mercury Drug outlet can be found in any SM mall.

You might be wondering why. The pharmacy is a big investment, surely the heads in SM would be interested in a bigger investment?

Well, to be honest, that seems rather unlikely. Because no matter how successful Mercury Drug is, SM malls founder and owner, Henry Sy, vowed never to get a franchise from that company.

To understand his vehemence, we have to look at SM's humble beginnings.

Before SM supermalls became what it is today, with over 17,000 tenants in the Philippines and 59 branches spread around the country, Henry Sy started it as a mere "shoe mart".

Yes before he struck gold, Henry Sy, a Filipino-Chinese businessman from ayoung age, started with a simple shoe store. At that time, Mercury was already an established brand of medicine retailer, and so is already a successful business in itself.

Henry Sy, with his entrepreneurial mind, saw the opportunity in Mercury drug and decided to approach the owenr of Mercury Drug. He wanted to ask if he could rent out a small portion of his drugstore for a shoe store.

However, the prideful man refused. Little did he know that Henry Sy was in it for success-- in fact even more successful than he could ever be!

Henry Sy even invested in Watson's a rival brand of Mercury Drugstore as a substitue for it.

That's what you get for not taking that leap of faith, Mr. Que!

Source: Sunnyside MNL
Find out the real reason why there are no Mercury Drugstores in SM Malls Find out the real reason why there are no Mercury Drugstores in SM Malls Reviewed by Daryl Madrid on Thursday, January 17, 2019 Rating: 5