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.
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