Breeze Development Co Ltd (微風廣場實業), one of the nation’s biggest department store and shopping complex operators, expects annual sales to break the NT$20 billion (US$634 million) mark next year, as its expansion bears fruit.
Breeze Development opened its second department store in Taipei’s Xinyi District (信義) in October last year, and plans to renovate two branches by the end of this year.
Last year, Breeze Development’s revenue stood at NT$13 billion. Company vice chairman and general manager Ichiro Oka set a higher target this year of NT$17 billion and NT$24 billion for next year.
“Next year will be a banner year for us,” Breeze Development chief executive Henry Liao (廖鎮漢) told a media briefing on the sidelines of the company’s end-of-year party yesterday.
EXPANSION, RENOVATION
The company has unveiled a series of plans for store expansion and renovation — starting with the launch of its department store in the Xinyi District, which the firm hopes will generate NT$3 billion in revenue this year.
Breeze Center is to continue its renovation plan this year, with the two branches on Zhongxiao E Road and Nanjing E Road expected to complete renovation work in June and November respectively.
SECOND XINYI STORE
In addition, the company is set to launch its second department store in the Xinyi District on Oct. 22, which would be the largest driver for the company’s sales next year, Liao said, adding that more than 50 percent of the branch’s occupancy has already been filled.
Liao remained bullish on the department store industry this year, saying the government’s move to promote tourism will further benefit service-related industries, including retail and department store operators.
In addition, the decline in global crude oil prices might help boost the nation’s economy and increase consumption capability, he added.
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