The SM Group is keen on meeting the local demand for wellness products as more Filipinos become more aware of the need to take care of their health and well-being.
Citing the forecast of the Global Wellness Institute, SM Group said the global wellness economy would reach nearly $9 trillion by 2028, and the Philippines is an emerging player, placing 13th among 219 economies in the world in the personal care and beauty segment.
SM Retail President Jonathan Ng on September 19 said that “beauty and wellness have shown significant growth across every demographic.”
“At SM, we will continue to be at the forefront of meeting customers’ evolving preferences by offering enriching experiences through suitable and unique products and services,” he said in a press release.
SM Group said its subsidiary, SM Beauty, now offers more than 1,000 brands across its 77 branches nationwide, with select branches offering global brands, such as YSL, Lancôme, and Calvin Klein.
It said health and beauty remain one of the fastest-growing markets around the world due to higher demand for wellness, personal care, and beauty solutions.
SM PHOTO