With 1,166 locations by the end of 2024, Watsons is still growing its community pharmacy model

“The Philippines has been selected for this momentous occasion because it’s one of the fastest-rising economies in Asia and a strategic market for AS Watson. This vibrant and highly potential market has a young demographic that increasingly focuses on health and beauty, aligning perfectly with Watsons’ expertise.” ~Dr. Malina Ngai, Group CEO of AS Watson Group

Further expanding into community pharmacy, Watsons Philippines opened more than 50 stores outside of Metro Manila.

As part of its strategic expansion, Watsons Philippines, a well-known health and beauty retail brand under the SM Group, ended 2024 with 1,166 locations. Last year, the company opened 80 new locations, more than 50 of which were outside of Metro Manila.

Under the direction of Dr. Malina Ngai, Group CEO of AS Watson Group, the Watsons brand also opened its 8,000th store in Asia at the Mall of Asia last year. She explained that the 8,000th store's opening represents a critical turning point in their international growth.

Expanding into community pharmacy

Through a joint venture between the SM Group and A.S. Watson & Co., based in Hong Kong, Watsons Philippines has expanded dramatically since the opening of its first location in 2002. Ltd. The company keeps expanding its reach across the country, giving Filipino customers easier access to cosmetics and medical supplies.

Important cities and municipalities in Visayas and Mindanao are among the new stores that opened last year, demonstrating Watsons' dedication to helping underserved communities. 

According to a recent Bain and Company study called "Asia-Pacific Front Line of Healthcare 2024," roughly 85% of consumers in the region place a high priority on maintaining their health, and 51% are willing to pay more out of pocket for better health outcomes and experiences.

“Watsons is not only expanding in malls but is also committed to establishing a strong presence in local neighborhoods,” De Guzman said. “By the end of 2024, we have 400 community stores throughout the Philippines, ensuring accessibility and convenience for our customers. Our community stores bring essential healthcare products closer to home, catering to the convenience sought by our busy shoppers. They have become vital destinations for health, beauty, and wellness needs.” ~Jared de Guzman, Customer Director at Watsons

In 2015, Watsons opened its first community pharmacy location in Pateros. The brand currently operates in three formats: SM Beauty, which has 76 SM Stores; Watsons Pharmacy, which has over 1,000 locations in various settings; and LOOK, which is a multi-brand outlet located at SM Aura and SM Mall of Asia.

Watsons maintains its position as a reliable supplier in the health and beauty industry by catering to a wide range of customers, from trend-setting beauty enthusiasts to health-conscious individuals.

About SM Investments Corporation

SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

SM’s retail operations are the country’s largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the fourth largest private domestic bank.

For more information, please visit www.sminvestments.com

For inquiries, please contact: smic_corpcomm@sminvestments.com