One trait that cannot be taken away from the lifestyle of the Filipinos is being a “shoppaholic” and they are really impulsive shoppers too - meaning they care less for what's there left for tomorrow as long as they can take all that they want for the day. In fact, if one's basis is the number of people who mill around and shop at malls, one would say - there is no room for the financial crisis in the Philippines.
Shopping Malls are in the system of Pinoys. Whether they have to buy something important, watch movie, have lunch or just to have coffee, the shopping mall usually is the first thing that pops-up in the minds of the Filipinos. But wait, did you ever care to know who are the people behind these giant establishments that we Pinoys can't do without?
Let’s get to know who are the people behind these malls in the Philippines. Let’s also see who was able to make it to the top and who weren’t able to give justice to their business.
The successful ones are:
1.THE AYALA’S
The Ayalas caters all the side of the economy. From the richest people to the masses. Ayala Land for example, offers a variety of real estates available for all the sectors of the economy. From condominiums to subdivisions (Avida Land) to the lowest form of Real Estates, Shopping Malls.
Ayalas shopping malls does not only caters the richest of the nation, but also those from the economy side. Ayala Malls showcase diverse shops, some are even brands from other countries. This is shown in the place where it is said, that the Ayalas transformed into business district, Makati City.
2.HENRY SY
Unlike the Ayalas, Henry Sy appeals and focus to one sector of the economy, the masses. If Ayala Malls are in the range of As, most of the time, in terms of customers, Henry Sy are in the Bs.
We are all witness how SM Malls boomed the country. In just 50 years in existence, SM became the mall for everyone.
The SM Investment Companies now are involved into many subsidiaries already, to name some, we have China Bank, and now with arrangement with ABS-CBN.
3.JOHN GOKONGWEI, JR.
He started selling soaps, candles, and other goods in an early age of 15. And at the age of 19, he is already involved in importing products from the United States. His retail business now reached the total revenues of P3.4 billion. Which also includes some of his ventures like, Cebu Pacific Air, Robinsons Savings Bank and Digital Telecommunications Philippines, Inc. (more popularly known as Sun Cellular)
4.GAISANO’S
The South is always regarded as something that is a little primitive, but the Gaisanos changed that view of the people. The family, which is most of the time coined as the “Ayalas of the South” started venturing out businesses in the south part of the country. DSG Sons Group, Inc. now operates biggest malls in Mindanao and Visayas.
And the not so successful ones:
Unfortunately, there are also some who wasn’t able to enjoy and reap a not-so-good fruits from their hardships. We have Jose Go and Jimmy Gow.
Jose Go, caters the masses from the masses. Probably can be described as those belonging in the classes D and C.
Ever Emporium was opened on C.M. Recto. Most of the customers are students since during the 1970s that place is considered to be the University Belt. The mall was a success that made Go opened another 4 malls.
Like Henry Sy and the Ayala, Go also ventured on real estate and formed Gotesco Land in 1996. However, the Asian Crisis of 1997 hit his business, leaving him a multi-billion debt.
Jimmy Gow like Jose Go, decided to focus his markets to the classes D and C. The low-income market of Gow and Go made them yield a low-income revenue as well. Uniwide Sales, the mall owned by Jimmy Gow, now reached an amount of P11 billion in debts and considered to be the biggest bankruptcy in the Philippines.
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