Fri, Jul 16, 2010 - Page 12 News List

Bellavita executive predicts better than expected revenues

By Jason Tan  /  STAFF REPORTER

Bellavita, dubbed by the public as the top luxury shopping mall for the rich, yesterday said it saw “better than expected” revenues into its ninth month of operation, with its VIP client list reaching as high as 2,000.

“Revenues are better than we expected,” a top executive at Bellavita said on condition of anonymity.

Before the mall opened to shoppers in September last year, the owner of Bellavita — Chun­Yee Co Ltd (震怡) — had hired a team from Hong Kong to manage the retail tenant business.

“The tenant issue was such a mess at the time and so the management decided to seek local expertise to attract more tenants to set up stores at Bellavita,” the source said.

Now, business is expected to stabilize by year’s end and talks have been going on to rope in new tenants, such as Louis Vuitton, he said.

A number of luxury brands have been in a tussle as some of them have to wait for their contract to expire at nearby Shin Kong Mitsukoshi (新光三越) or Taipei 101 before moving into Bellavita, he said.

Bellavita yesterday announced its Chinese name as “寶麗廣場,” which in English means a plaza of beautiful treasures, a loose transliteration of its Italian-inspired name.

ChunYee chairman C.C. Leung (梁次震), who doubles as vice chairman of Quanta Computer Inc (廣達), helped establish Bellavita for his three daughters to realize their dreams of having a high-class European style mall in Taiwan.

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