Bicycle maker Giant Manufacturing Co Ltd’s (巨大機械) board yesterday elected a new management team, as its chairman and chief executive officer are both expected to retire by the end of the year.
Chief financial officer Bonnie Tu (杜綉珍) has been appointed chairman and Young Liu (劉湧昌) as chief executive officer. The change comes as the 44-year-old company seeks to transform into a service-oriented firm on the global stage.
“Giant has been recognized as a bicycle brand for many years, and we want to improve customer services by launching ‘smart’ manufacturing and developing better marketing strategies based on customers’ preferences,” Liu told a news conference in Taipei.
Photo: CNA
“Bicycle manufacturing is a labor-intensive industry,” said Liu, who is son of founder and chairman King Liu (劉金標) and will take over Anthony Lo’s (羅祥安) position.
“There is still much room for improvement in the production processes,” Young Liu said.
Commenting on Giant’s marketing plans, Young Liu said that the company hopes to attract more customers by enhancing online-to-offline commerce services, instead of relying on its e-commerce business.
Online-to-offline commerce refers to a business strategy that attracts potential customers from online channels to physical stores.
“We found that people still prefer to buy bicycles at physical outlets, as they need professional advice,” Young Liu said.
Giant has more than 12,000 dealers in 80 countries, its Web site said.
The company declined to elaborate on its capacity target and outlet expansion plans for next year.
Asked about Giant’s outlook for the coming year, Young Liu said that he expects the company’s high-priced products to be future sales catalysts, including electric bikes and carbon fiber bikes.
“Recovering demand for electric bikes is expected to boost sales in the Chinese market by 10 percent next year,” he added.
Revenue from electric bikes made up 7 percent of the company’s total sales last year, but Giant is upbeat about the growth momentum in the sector, company spokesman Ken Li (李書耕) told the Taipei Times.
Giant’s accumulated revenue in the first 11 months of this year declined 5.97 percent year-on-year to NT$52.9 billion (US$1.7 billion). The company attributed the decline to weak sentiment in the global market.
Giant shares dropped 2.08 percent to close at NT$188.5 in Taipei trading before the announcement, underperforming the benchmark TAIEX, which fell 0.36 percent to 9,326.78 points.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College
RSS