IKEA partners with mall operator SM Prime for first Philippines store

As of last month, IKEA had 414 stores in 49 countries, many in out-of-town malls. (Reuters)
Updated 06 April 2018

IKEA partners with mall operator SM Prime for first Philippines store

MANILA: Global furniture retailer IKEA will in 2020 open its first store in the Philippines located at one of the world’s biggest shopping malls, mall operator SM Prime Holdings said on Friday.
SM Prime, the Philippines’ biggest property firm, will build premises at the SM Mall of Asia to rent to IKEA under an agreement signed earlier this year, Alexander Pomento, SM Prime vice president for investor relations, said.
The firm is also considering renting some of the new space to other tenants, he said.
IKEA did not immediately respond to requests for comment.
Up to 300,000 people a day pass through the SM Mall of Asia, situated in the Manila Bay retail, residential and entertainment hub.
As of last month, IKEA had 414 stores in 49 countries, many in out-of-town malls. The firm in November said it would increase city-center showrooms.
SM Prime, owned by the Philippines’ richest man, is valued at $19 billion and has interests in shopping malls, office towers, residential buildings, hotels and convention centers.


Key to success is passion: PepsiCo official

“I always think success is married with passion,” Simon Lowden said, adding that he likes to get involved with ideas that excite him
Updated 25 min 57 sec ago

Key to success is passion: PepsiCo official

  • Lowden was speaking at a session titled “100 years is a long time: Preparing for multiple shifts.”

RIYADH: The key to success is being passionate about what you do, Simon Lowden, chief sustainability officer at PepsiCo, told a brainstorming session at the Misk Global Forum in Riyadh on Wednesday.

“I always think success is married with passion,” he said, adding that he likes to get involved with ideas that excite him.

“I started my life in a small farming village, went to London to attend university, joined PepsiCo … and now I run our sustainability agenda,” he said. “This made me rich as a person, and I did things I really enjoyed.”

Lowden was speaking at a session titled “100 years is a long time: Preparing for multiple shifts.”

Other panelists included Dave Brooke, vice president of client solutions at Dell Technologies; Kevin Gaskell, an international speaker on leadership and business performance; Deloitte CEO David Sproul; and Nancy Yammout, general director of the NGO Rescue Me. The session was moderated by Lebanese journalist and politician Naufal Daou.