Ever imagined fireworks going off just at the perfect moment to make your wedding even more romantic? Thought about having a professional photographer capture the most memorable moments of your honeymoon?
These are just two of the novel ideas being brought to Taiwan by Tokyo-based Dears Brain, Japan's fifth-largest "house wedding" firm in terms of revenue.
"Taiwan's wedding market is like Japan's 10 years ago, when the `house wedding' concept was still new to the public. But now in Japan, 15 percent of the newlyweds choose to do it this way," said Yoshiyuki Matsuba, director of Dears Brain, during an interview in Taipei on Saturday.
PHOTO: CHANG CHIA-MING, TAIPEI TIMES
Bullish about the market's potential, the Japanese firm plans to set up Dears Brain Taiwan (迪詩) at the end of this month and spend NT$80 million (US$2.4 million) to acquire the operational rights to Grace Hill (麗庭莊園), a church-style venue that offers wedding planning services in Taipei's Neihu District.
The original investors in Grace Hill will become the landlords leasing the facilities to Dears Brain's, he said.
Matsuba, 32, will be in charge of Dears Brain's Taiwan business when the new company starts operations next month.
"House wedding" has been a popular wedding style in the West for decades. With stand-alone mansions and outdoor gardens as the main elements, newlyweds and their guests can celebrate the day in their own private space, in stark contrast to narrow and noisy venues often seen in restaurants or hotels.
Sensing a crisis arising as Japan's wedding market is shrinking due to the low birth rate, Dears Brain is eager to expand overseas with Taiwan, known as a Japan-friendly country, as its first foreign market to test the waters.
"We have been looking for the best markets to enter, from Korea to Beijing and Shanghai. Thanks to Mitsui and Co (Taiwan) Ltd's help in March, we came into contact with Grace Hill, which shares similar service concepts with us," Matsuba said.
Established three years ago with a space of 2,000 ping (6,600m2), Grace Hill claims to be the nation's first house wedding operator. It managed sales of NT$120 million last year by hosting weddings and business banquets, a figure Matsuba said will significantly jump after Dears Brain introduces its service model and implements cost control schemes.
"Three years ago, Dears Brain also acquired a poorly performing wedding firm in Japan and has successfully boosted its performance" by overhauling its operations, he said, explaining his confidence that the company would make a splash in the marketplace.
According to government statistics, approximately 140,000 couples got married in Taiwan last year, about one-fifth of the number in Japan.
"Our goal is to provide consumers with an alternative, and I believe the marketplace will change due to the competition," he said.
Although the Taiwanese market is smaller, Dears Brain believes that more couples will choose house weddings over normal banquets at hotels, thanks to people's growing budgets and a trend to pursue tailor-made weddings.
The new business expects to host 500 weddings and banquets during its first year of operations with revenues topping NT$300 million. Following two years of fine-tuning, the firm plans to invest NT$400 million building two wedding houses, one in Taipei and the other in either Taichung or Kaohsiung.
"In the third year, we hope to serve 1,500 couples, about 1 percent of the market, and post sales of NT$800 million," Matsuba said.
It is estimated that a couple on average spends NT$700,000 on their wedding, from shooting wedding photos to hosting banquets. That puts the overall value of the market at close to NT$100 billion a year.
Taipei 101 has also declared its intention to tap into the top-end wedding market by making use of its unique features.
Last month, it announced plans to offer a "one stop shopping" wedding service that ranges from making purchases to booking wedding venues.
Its main weapon will be to allow big spenders to make their marriage proposals in messages on the electric signboards on the world's tallest building at a cost of more than NT$3 million a time. It is aiming for sales of NT$50 million a year.
Dears Brain says that in addition to having wedding planners that map out detailed procedures for each couple, the firm also plans to open a bridal shop next spring.
Dears Brain president Hirokazu Kogishi was quoted by CNA on Thursday as saying he is also considering setting up a school to train more professional wedding planners in Taiwan. It is a long-term idea and no details are available as yet, Matsuba said.
Established in 2001, Dears Brain posted sales of ¥4.4 billion (US$36 million) last year and has a goal of ?6.5 billion in turnover this year. It plans to enter the market in Singapore, China, Malaysia and Hong Kong as well as Taiwan.
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