SM Group’s Watsons End 2024 with 1,166 stores, Continues to Expand its Pharmacy Format

Watsons Philippines, a renowned health and beauty retail brand under the SM Group, ended 2024 with 1,166 stores as part of its planned development. Last year, the company added 80 additional stores, including more than 50 outside Metro Manila.

The Watsons brand also opened its 8,000th store in Asia at the Mall of Asia last year, led by Dr. Malina Ngai, Group CEO of AS Watson Group. She shared how the opening of the 8,000th store marks a significant milestone in their global expansion, “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.”

​Since its first store opened in 2002, Watsons Philippines has grown significantly through a joint venture between the SM Group and Hong Kong-based A.S. Watson & Co. Ltd. The brand continues to enhance its presence nationwide, making healthcare and beauty products more accessible to Filipino consumers.

Last year's new store openings included significant cities and municipalities in Visayas and Mindanao, demonstrating Watsons' commitment to serving underserved regions.

According to a recent Bain and Company study titled "Asia-Pacific Front Line of Healthcare 2024," about 85% of regional consumers prioritize healthcare maintenance, with 51% willing to increase out-of-pocket expenditure for better health outcomes and experiences.

Jared de Guzman, Customer Director at Watsons, emphasized the brand’s focus on community pharmacies. “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.”

Watsons' community pharmacy journey began in 2015 with the opening of its first Pateros store. Today, the brand operates in three formats: Watsons Pharmacy, which has over 1,000 outlets in diverse settings; SM Beauty, which has 76 SM Stores; and LOOK, a multi-brand outlet located at SM Aura and SM Mall of Asia.

​De Guzman highlighted the significance of these community pharmacies as a growth driver. “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.”

Watsons continues to service a varied customer base, ranging from health-conscious consumers to trendsetting beauty lovers, cementing its reputation as a reliable provider in the health and beauty industry.​