The SM Group announced its commitment to capturing opportunities in the rapidly growing health and wellness market, as the Philippines continues to emerge as a key player in the global personal care and beauty industry.
According to the Global Wellness Institute, the global wellness economy is projected to reach USD 9 trillion by 2028, with the Philippines ranking 13th among 219 economies in the personal care and beauty segment.
SM Retail President Jonathan Ng highlighted that “beauty and wellness have shown significant growth across every demographic,” underscoring the company’s strategy to provide greater accessibility to health, beauty, and personal care products through its retail network.
SM Group’s retail arm, SM Beauty, now carries over 1,000 brands across 77 branches nationwide, including global names such as YSL, Lancôme, and Calvin Klein. The company aims to continue expanding its portfolio and in-store experiences to meet evolving consumer preferences.
With the wellness economy driving demand for self-care and lifestyle products, SM Group positions itself at the forefront of the Philippines’ fast-growing health, beauty, and wellness sector, contributing to the country’s status as a rising hub for global retail and wellness innovation.
(Source: Philippine News Agency)
