A Singapore-based international bookstore has attracted the attention of local rivals with the soft opening this week of what it says is the largest bookstore in Taiwan.
Page One, established in 1983, made its debut in Taiwan on Monday on the fourth floor of the Taipei 101 Mall. With 720 ping of sales area, the company said it aims to become the largest international mega-bookstore in the country.
PHOTO: GEORGE TSORNG, TAIPEI TIMES
"Taiwan is the place with the most vigorous growth in the world in the Chinese-book-trading market," said Dennis Liu (劉春豪), the bookstore's corporate affairs manager.
The Taipei 101 branch is Page One's 11th store, following expansion to Malaysia, Thailand, Hong Kong and Australia.
The company invested about NT$150 million in the new branch, which will stock 170,000 books in Chinese and 160,000 in English. It is particularly proud of the 20,000 books it will offer on art and design.
"Our huge selection of art and design books is our distinguishing feature from the competitors," Liu said. "The estimated 85,000 highly educated office workers in Taipei 101 will be the target customers for our numerous books in English."
Page One hopes to draw 5,000 visitors daily and expects to create sales of NT$35 million in its first year, Liu said.
Some booklovers praised Page One's interior design and ample space, as well as its plentiful supply of books in English.
"The new and big space is comfortable and the abundant selection of books offered can meet consumers' needs," said Sophia Su, a 30 year-old teacher.
Another customer agreed, saying the rest corners and lighted areas made customers feel respected.
"I think it makes the store more appealing than Eslite (
Eslite Co, the nation's largest bookstore chain with 50 outlets, denied Page One's claim of being Taiwan's largest, or even best, bookstore.
"Our flagship store [at the intersection of Jenai Rd. and Tunhua S. Rd.] measures 1,500 ping and has sales of more than NT$40 million per month," said Lee Yu-hwa (
In addition to the ample art and architecture books which draw lots of artists and architects, Eslite in 1999 started operating 24 hours a day at its flagship store, Lee said.
While welcoming the competition, Eslite said it expected to increase sales to NT$5.2 billion this year from NT$4 billion last year and open up to 10 more outlets.
"Our more than 80,000 loyal members that shop at least three times a month, spending an average of NT$1,000 every time, are our valuable asset and competitive edge," she said.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
The Financial Supervisory Commission (FSC) yesterday met with some of the nation’s largest insurance companies as a skyrocketing New Taiwan dollar piles pressure on their hundreds of billions of dollars in US bond investments. The commission has asked some life insurance firms, among the biggest Asian holders of US debt, to discuss how the rapidly strengthening NT dollar has impacted their operations, people familiar with the matter said. The meeting took place as the NT dollar jumped as much as 5 percent yesterday, its biggest intraday gain in more than three decades. The local currency surged as exporters rushed to