Watsons has become a household name in the Philippines. You’ll find it in nearly every SM mall, beside every grocery, and in almost every city. But how did this happen? And why did SM choose to partner with Watsons over Mercury Drug, the country’s most established pharmacy chain at the time?

In this episode of Brand Origins, we uncover the complete history of Watsons in the Philippines and how it became one of SM’s most powerful retail partners. From its beginnings as A.S. Watson & Co. in 19th-century Hong Kong, to its massive expansion across Asia, to its eventual partnership with SM Investments, this video breaks down how the brand grew from a small apothecary into one of the largest health and beauty retailers in the world.

We’ll explore how Watsons built its image of trust, accessibility, and convenience, and how SM’s business strategy helped the brand dominate the Philippine market.

📌 Timestamps:

00:00 Intro

00:58 Henry Sy's Vow to Crush Mercury Drug

02:40 How Britain Took Hong Kong

06:49 The Hong Kong Dispensary

7:55 AS Watson's Rapid Growth

10:17 Watsons Water

11:07 Hong Kong & Whampoa Dock

11:23 How Li Ka-Shing acquired the company

12:02 Brands AS Watson Owns

14:20 Watsons in the Philippines

15:08 Watsons' Secret Cash Cow (Optimo)

18:39 Watsons Pink

19:43 Outro

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