Apr. 17, 2007 (China Knowledge) – Shin Kong Mitsukoshi (SKM), a leading department store chain in Taiwan, Monday announced it will open its first store outside Taiwan, in Beijing.
Shin Kong Place, covering 120,000 sq m, is the biggest of its kind in China in terms of size and is located in one of the busiest areas of Beijing, close to the World Trade Center.
Developed by Beijing Guohua Real Estate Co. Ltd., Shin Kong Place is a 50-50 joint venture between SKM and Beijing Hualian, the sixth-largest player in the industry.
Steven Wu, general manager of Hualian Shin Kong Department Store (Beijing) Co. Ltd., told Xinhua news that Beijing was chosen to set up its first store due to the upcoming Olympics in 2008.
The group is said to be planning to expand into Chongqing also, but Wu refused to elaborate, emphasizing that SKM is currently giving top priority to developing Shin Kong Place's business by leveraging the strengths of both SKM and Hualian.
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