Sat, Sep 20, 2014 - Page 14 News List

Eslite, Yulon team up for project in New Taipei City

By Camaron Kao and Amy Su  /  Staff reporters

Yulon Motor Co (裕隆汽車) yesterday said that it had reached an agreement with Eslite Spectrum Corp (誠品生活) to jointly operate a new retail business in New Taipei City’s Sindian District (新店).

The new business is to be located in Yulon’s planned property development project on a 23,143-ping vacant land, of which the carmaker plans to begin construction in the fourth quarter next year or the first quarter of 2016, Yulon Group vice president Charles Shiau (蕭明輝) said.

The two companies disclosed the inking of the agreement in a filing with the Taiwan Stock Exchange yesterday after the local stock market closed.

No other details were provided in the filing and company officials declined to offer more details when contacted by the Taipei Times.

Shiau said earlier that Yulon expected to build a residential and multi-functional building on the site and hopes to obtain a building permit by the end of next year so as to break ground for construction on the site in the first quarter of 2016.

The property complex is expected to begin operations in the fourth quarter of 2020, he said.

Based on the terms of the agreement, Eslite Spectrum will operate and manage the retail space of the business complex.

Eslite Spectrum is a retail management arm of the Eslite Group (誠品集團), which is one of the most famous bookstores in Greater China.

The group has 42 stores in Taiwan and Hong Kong and has developed a business model to attract customers with comfortable bookstores inside other business complexes.

Eslite Spectrum plans to open two new stores in Taiwan this year — one in Taoyuan and another in Greater Tainan.

Next year, the company plans to launch two new shopping spaces in China — one in Jinji Lake in Suzhou and another in Shanghai.

This story has been updated since it was first published.

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