Tiens Group opens Taiwan headquarters

China-based Tiens Group Co (天獅集團), the world's fifth-largest health products direct selling conglomerate, has ventured into Taiwan, opening its regional headquarters in the landmark Taipei 101 building.

The company also considers forming a strategic alliance with Chang Gung Biotechnology (長庚生技) of the Formosa Plastics Group (台塑集團), its chairman Li Jinyuan (李金元) said on Saturday on the 27th floor of Taipei 101.

Li said he had visited the Formosa group and had had good discussion with the Taiwanese group's founder, Wang Yung-ching (王永慶), on further cooperation.

Because of restrictions on direct Chinese investment in Taiwan, the group's Taiwan headquarters was established under the name of its US branch, Tiens Biotech Group (USA) Inc.

The Tiens Group's regional headquarters in Taipei 101 include a health products direct selling supermarket, a product-testing zone and a training center, as well as a spa, a yoga classroom and fitness facilities.

The group plans to establish six to 10 direct selling supermarkets around Taiwan and open four to five franchised selling points in every county and city.

The group also plans to develop the tourism business in Taiwan, eyeing the cash-rich mainland Chinese, the company said.

Li founded the group in 1995 and listed its US subsidiary on NASDAQ three years ago.

The Hurun Report ranked Li the 18th wealthiest person in China last year, with assets worth 6.9 billion yuan (US$887 million).