PDS now anticipating store expansion across both sides of the strait
By Evelyn Tsai ,Special to The China Post
August 16, 2014, 12:02 am TWN
TAIPEI, Taiwan -- Darren Chang (章啟正), executive chairman of Pacific Department Store Co., Ltd (PDS, 太平洋百貨) and chairman of Grand Pacific Mall in mainland China (GPM, 北京君太百貨), announced on Wednesday that the company is looking to expand its sales prospects by opening two new department stores, one in Taiwan, and one in mainland China.
Currently, GPM has risen to become the biggest shopping mall in Beijing. The company has plans to open its second department store in the Chinese capital, adding that the forthcoming project will contain both office space and retail shops within one building. According to Chang, work on the brand-new store is going to officially commence according to the company's two-year plan with total investment expected to reach between 600 and 700 million yuan.
In the meantime, Chang noted that PDS's third retail store is slated to be located in a Northern Taiwan urban center, adding that project planning will be completed within six months.
Chang said that the company has been through a 17-year lull in expanding its department store chain in the Taiwan market. Since the outbreak of a management dispute with rival Far Eastern Group (遠東集團), the company's performance has been impacted deeply, leading to the decision to pull out from the Taiwan market to focus on endeavors in China, said Chang. As a result, PDS is well prepared for the forthcoming expansion initiative on both sides of the strait, Chang added.
Currently, PDS has 3 department stores, the GPM in Xidan (西單), the major commercial area near Beijing, a location in Central Taiwan's Fengyuan City (豐原市) and another in Southern Taiwan's Pingtung.
While attending a public engagement at the Fengyuan mall on Wednesday, Chang stated that he shares a close bond with the Central Taiwan-based mall. According to Chang, for the past two decades the Fengyuan mall has served as an invaluable academy for the company, training echelons of capable managers and staff members, which will aid the firm's forthcoming campaigns in China.
As he had recently been elected to serve as the chairman of an association for Beijing-based Taiwanese businesspeople, Chang stated that he will strive to elevate the reputation of Taiwanese enterprises in China.