Shin Kong Mitsukoshi sees sales growth

By Amy Su  /  Staff reporter

Tue, Jan 29, 2013 - Page 13

Shin Kong Mitsukoshi Department Store Co (新光三越百貨), one of the nation’s leading department stores, expects sales in Taiwan to grow more than 2 percent this year from last year, aided by a strategy of diversification and localization, a company official said yesterday.

The company, which has one store in China, also expects to launch three more department stores across the Taiwan Strait by 2015.

“We hope to promote more local brands this year,” company executive vice president Richard Wu (吳昕陽) told reporters yesterday.

Shin Kong — which owns 13 branches with 19 stores in Taiwan — saw its sales in the country total NT$74.9 billion (NT$2.53 billion) last year, company data showed.

After introducing more unique brands to Taiwan, Wu said he expected the company’s revenue in the nation to reach NT$76.5 billion this year, up more than 2 percent from last year.

Shin Kong is set to open its second and third department stores in China next year — in Suzhou, Jiangsu Province, and Chengdu, Sichuan Province, Wu said, adding that the company’s fourth department store in China will be launched in 2015 in Chongqing, also in Sichuan Province.