MANILA, Philippines – Three of the biggest family conglomerates that owned shopping centers were hailed as among the best local retailers and owners last Thursday.
The SM Group, Robinsons Retail Holdings and Megaworld had been awarded by the Philippine Retailers Association (PRA). The companies are owned by the Sy, Gokongwei and Tan families.
Specifically, SM Group’s SM Megamall was named the shopping center of the year for the large category. Its grocery counterparts, Savemore and SM Hypermarket, were awarded as supermarket and hypermart of the year, respectively.
Megaworld’s Newport Manila, meanwhile, bagged the shopping center of the year award for the mixed-use township category, while its Lucky Chinatown Mall won under the medium category.
Robinsons Place Malolos in Bulacan was hailed shopping center of the year under the small category, and Robinsons Department Store was named full line department store of the year.
The annual PRA awards, now on its 19th year, seeks to encourage Filipino retailers to adopt world-class standards and practices by recognizing Filipino retailers who have epitomized the model of growth and good ethical practices.
Apart from the usual categories handed out annually, this year’s edition recognized tycoon Lucio Co of Puregold with the President’s Award for his contributions in the local retail industry.
“(This is) in recognition of his success and influential contribution to the growth of micro-retail entrepreneurs, particularly through the Tindahan ni Aling Puring program that promoted the enhancement and development of micro-retail entrepreneurship in the Philippines,” PRA said.
“The program manifested Puregold’s mission to serve and uplift the livelihood of every Filipino family, while at the same time contributing to the country’s aspiration for inclusive growth,” it added.
Trade Secretary Adrian Cristobal Jr. said the retail industry has been a strong pillar of economic growth over the past five years, contributing an average of 13 percent to the country’s gross domestic product (GDP).
He said both retail and trade are bound to benefit from the expected continued strong economic growth, which hit a three-year high of 6.9 percent in the first quarter.
“We hope major players in the retail industry will continue to provide market opportunities for small entrepreneurs, especially those in the food processing and agriculture sectors,” he said.