Philstar
SM meets growing demand for beauty, wellness
The SM Group is strengthening its retail operations to cater to the growing demand for beauty and wellness products across the Philippines.
SM Beauty, a subsidiary of SM Retail, now features over 1,000 brands in its 77 branches, including premium international labels such as Yves Saint Laurent, Lancôme and Calvin Klein.
The company has also established dedicated beauty hubs in select stores, offering services like hair coloring and makeovers with guidance from professional beauty advisers.
SM Retail president Jonathan Ng highlighted the significant growth in beauty and wellness across all demographics and stated SM's commitment to meeting evolving customer preferences.
The global health and beauty market is experiencing rapid expansion, with projections indicating the global wellness economy will approach $9 trillion by 2028.
The Philippines has emerged as a strong player in this space, ranking 13th among 218 economies in the personal care and beauty category in 2023.
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