Taipei's first shopping center completely devoted to selling out-of-season clothing and accessories opened to the public over the weekend with the aim of catering to customers who want to purchase brand-name products at very low prices.
"Although the economic climate is bad and disposable incomes are shrinking, the market for brand-name products remains promising," said Wang Wan-cheng (王晚成), executive manager at Howard Plaza Boutique Neihu (福華名品內湖店).
PHOTO: GEORGE TSORNG, TAIPEI TIMES
And while products at the outlet center are going for as much as 90 percent off, there is a catch.
"The difference between our highly discounted products and the same items found in department stores is that we offer out-of-season merchandise," Wang said.
The Howard Plaza Boutique Neihu was established in August and was originally designed as a department store.
However, with sales falling far short of projections, the management team decided to change its business approach.
"Our store is located in suburban Taipei, and since some customers may not want to travel a long way to shop for the same products in downtown department stores, we decided to focus on this niche," Wang said.
With the city overflowing with fashionable products, international brand-name providers don't want to compete with their own product from last season. Howard Plaza Boutique Neihu takes up only 400 ping of a 3,600 ping complex, and they have plans to expand into the entire center by next year.
"By July next year, the entire shopping center will be filled with about 120 outlets selling out-of-season products," Wang said.
"We are confident that the segment will remain profitable during this economic downturn."
Over the weekend, the new outlet's sales reached NT$5 million, triple the sales figure before the conversion, he said.
The company set a sales goal of NT$60 million for between now and the end of the year, Wang said.
According to Vicky Chen (陳慧姝), a manager at Howard Plaza, the outlet center has signed up about 20 international brands, including Polo Jeans, Escada, Ralph Lauren, Fendi, Kenneth Cole, Valentino and Doctor Martin.
Top brands have dominated the centers' sales.
"Polo Jeans and Ralph Lauren are the best selling brands at our center, with many products out of stock within three days," Chen said.
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