Conglomerates adapt to stay on top

Some companies view innovation as the key to success, constantly reinventing the wheel to stay ahead.

- By RICHMOND MERCURIO

Others, however, choose to stick to their roots, keeping their tried and tested formula to navigate an ever-evolving business landscape.

But for some of the country's largest and most successful conglomerates, striking a balance between innovation and tradition is seen as vital to sustaining growth and maintaining relevance in the years to come.

While retaining their DNA, companies like SM, Ayala, LT Group and Alliance Global have also infused young blood and ushered in a new set of leaders to play a key role in their next phases of growth.

Carrying on the Sy legacy Jessica Sy, daughter of Henry Sy Jr., is emerging as a key figure behind the SM Group's property business.

The third-generation Sy is currently vice president and head of design, innovation and strategy at the group's integrated property development arm SM Prime.

Regarded as a trailblazer in urban development, Jessica is reimagining urban living with thoughtful design, sustainability and a lasting sense of community.

"We want to carry stories that surpass generations, that can be passed on to our children and our children's children. Where memories are made and futures are built," she said.

As part of this vision, SM Prime is expanding into the premium residential market, a natural progression given the company's extensive experience in creating upscale environments through its mall developments, office buildings, hotels and leisure properties.

"We are stepping into something new, but not unfamiliar. If you trace our journey, our legacy, the integrated communities we have built, the spaces we have shaped and the millions of lives of Filipinos who worked and connect with our developments, this moment feels like a leap. Not just a leap, but a natural evolution," Jessica said.