SM taps rising Phl role in global wellness economy

The Philippines is emerging as a strong player in the booming global wellness economy, and the SM Group has announced its plans to position itself to meet growing demand by expanding access to health, beauty, and wellness products.

Citing Global Wellness Institute data, SM noted that the global wellness economy is projected to reach nearly USD 9 trillion by 2028, with the Philippines ranking 13th out of 219 economies in the personal care and beauty segment.

“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,” SM Retail President Jonathan Ng said.

SM Beauty, the group’s retail arm, now carries over 1,000 brands in 77 branches nationwide, including global labels like YSL, Lancôme, and Calvin Klein.

The group said health and beauty remain among the fastest-growing markets worldwide amid rising demand for personal care and wellness solutions.