T.S. Retail and Distribution Co Ltd (南紡流通事業), which operates Dream Mall (夢時代購物中心) and Uni-President Hankyu Department Store (統一阪急百貨), aims to become the nation’s fourth-largest department store operator by earning NT$20 billion (US$633 million) in revenue this year.
T.S Retail — a joint venture between Tainan Spinning Co Ltd (台南紡織) and Uni-President Group (統一集團) — yesterday officially opened T.S. Dream Mall (南紡夢時代購物中心) in Tainan following a trial operation that commenced on Dec. 30 last year.
“We hope the shopping mall will generate a total of NT$6 billion in sales in its first year of operation,” Tainan Spinning chairman Cheng Kao-huei (鄭高輝) told reporters at the mall’s grand opening ceremony.
Photo: Chang Jung-hsiang, Taipei Times
Cheng said daily sales at T.S. Dream Mall averaged about NT$20 million during the trial period, boosting T.S. Retail’s confidence that its second Dream Mall might break even after one year in operation, outpacing its first mall in Kaohsiung.
The company is targeting total annual revenue of NT$20 billion this year from its three department stores, T.S. Retail vice chairman Hou Po-ming (侯博明) said.
The company expects the Dream Mall in Kaohsiung to generate annual sales of NT$11 billion this year, while Uni-President Hankyu Department Store in Taipei is set to see annual sales grow to more than NT$3 billion, Hou said.
If T.S. Retail hits its NT$20 billion sales target, it will overtake Breeze Development Co Ltd (微風廣場實業) to become the nation’s fourth-largest department store operator.
Shin Kong Mitsukoshi Department Store Co Ltd (新光三越百貨), Far Eastern Department Stores Co (遠東百貨) and Pacific Sogo Department Stores Co (太平洋崇光百貨) are ranked the nation’s top three department store operators.
Ho said T.S. Dream Mall focuses on entertainment as well as food and beverage services.
Two-thirds of the retail stores in the mall cover these two sectors, including Vieshow Cinemas (威秀影城), New Palace International Co Ltd (新天地餐飲集團) and Being Corp (統一佳佳), the fitness and spa center operator run by President Chain Store Corp ( 統一超商).
The mall has a total of 380 tenants and is part of a development project in which the company has invested US$15 billion, Hou said, adding that the project still has two phases to be launched at a later date, including the development of offices and high-level residential quarters in the mall’s neighborhood.
TECH TITAN: Pandemic-era demand for semiconductors turbocharged the nation’s GDP per capita to surpass South Korea’s, but it still remains half that of Singapore Taiwan is set to surpass South Korea this year in terms of wealth for the first time in more than two decades, marking a shift in Asia’s economic ranks made possible by the ascent of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). According to the latest forecasts released on Thursday by the central bank, Taiwan’s GDP is expected to expand 4.55 percent this year, a further upward revision from the 4.45 percent estimate made by the statistics bureau last month. The growth trajectory puts Taiwan on track to exceed South Korea’s GDP per capita — a key measure of living standards — a
READY TO HELP: Should TSMC require assistance, the government would fully cooperate in helping to speed up the establishment of the Chiayi plant, an official said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said its investment plans in Taiwan are “unchanged” amid speculation that the chipmaker might have suspended construction work on its second chip packaging plant in Chiayi County and plans to move equipment arranged for the plant to the US. The Chinese-language Economic Daily News reported earlier yesterday that TSMC had halted the construction of the chip packaging plant, which was scheduled to be completed next year and begin mass production in 2028. TSMC did not directly address whether construction of the plant had halted, but said its investment plans in Taiwan remain “unchanged.” The chipmaker started
MORTGAGE WORRIES: About 34% of respondents to a survey said they would approach multiple lenders to pay for a home, while 29.2% said they would ask family for help New housing projects in Taiwan’s six special municipalities, as well as Hsinchu city and county, are projected to total NT$710.65 billion (US$23.61 billion) in the upcoming fall sales season, a record 30 percent decrease from a year earlier, as tighter mortgage rules prompt developers to pull back, property listing platform 591.com (591新建案) said yesterday. The number of projects has also fallen to 312, a more than 20 percent decrease year-on-year, underscoring weakening sentiment and momentum amid lingering policy and financing headwinds. New Taipei City and Taoyuan bucked the downturn in project value, while Taipei, Hsinchu city and county, Taichung, Tainan and Kaohsiung
Micro-Star International Co (MSI, 微星科技) is expanding notebook computer production in India after partnering with Indian electronics maker Syrma SGS Technology Ltd late last year, as the Taiwanese company seeks to tap into the local market. MSI also plans to manufacture some of its new gaming PCs powered by Nvidia Corp’s RTX 50 graphics cards in India, while adding more advanced and design-focused PCs and notebooks at Syrma’s plant in Chennai, a source told the Taipei Times yesterday on condition of anonymity. MSI’s deployment in India is driven not only by cost advantages, but also by India’s rapidly expanding consumer market and
RSS