Eslite Spectrum Corp (誠品生活), which operates bookstores, shopping malls and restaurants, yesterday said that it would continue to add stores in the Greater China market.
Eslite president Wu Wen-chieh (吳旻潔) told the annual shareholders’ meeting that the firm has taken root in Taiwan and that after extending its reach into Hong Kong in 2012, has transformed itself into a cultural creative brand in the Greater China area.
Wu said that the company is to continue to expand in Taiwan, Hong Kong and China, and operates a total of 46 outlets in the three markets by teaming up with cultural creative brands.
For the growing China market, Wu said that Eslite is planning to enter Shanghai by opening a store in the second half of this year after its first Chinese outlet was launched in Suzhou in November last year.
In addition, it is planning to open a store in Shenzhen in 2018, Wu said.
Eslite has three stores in Hong Kong.
Wu said that the company is studying the feasibility of opening more stores there.
While Eslite has closed two stores in Taipei’s Tianmu (天母) and Ximending (西門町) areas, and is to close another in the National Theater and another one in Hsinchu, Wu said the company has never changed its objective of continuing to grow in Taiwan.
Wu said that Eslite is determined to open new stores, including in New Taipei City’s Sindian District (新店), Taichung and Kaohsiung in the second half of this year.
Eslite chairman Wu Ching-yu (吳清友) said that the company has set its sights beyond the Greater China market, with the aim of opening stores in Japan and the US.
The chairman said that two property developers in Japan have made contact with Eslite.
Last year, Eslite reported sales of NT$3.82 billion (US$118.42 million at current exchange rates), up 9 percent from a year earlier, and made NT$412 million in net profit, up 11.6 percent from a year earlier, with earnings per share of NT$9.12.
Eslite said that with its efforts to expand, its revenue and earnings for this year are expected to grow accordingly.
Eslite shares gained 1.06 percent to close at NT$190 on Taipei’s over-the-counter market, which closed up 0.35 percent yesterday.
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