Why SM Chose Watsons over Mercury Drug | Complete History of Watsons in the Philippines

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 💼 Sponsorships Want your brand to be featured in future episodes? Let’s collaborate. 📩 Visit chrisgarin.com for sponsorship inquiries, partnerships, or collaboration opportunities. Say Hi: Instagram:   / chris.garin   TikTok:   / chris_garin   Facebook: https://www.facebook.com/profile.php?... Threads: https://www.threads.com/@chris.garin 🎥 About Brand Origins Brand Origins tells the stories behind the biggest brands and the ideas that built them. Each episode dives deep into the business moves, cultural moments, and turning points that shaped the companies we see today.