JR East opens its first overseas Atre mall in Taipei this week
TAIPEI, NNA – East Japan Railway Co. will open its first overseas Atre-brand mall in Taipei on Thursday in partnership with Breeze Group, Taiwan’s major shopping mall operator, introducing 17 Japanese and other foreign brands.
Atre Co., a subsidiary of the railway operator JR East, said Tuesday the mall at the Breeze Center in Taipei Nan Shan Plaza, located opposite Taiwan’s landmark skyscraper Taipei 101, will house 51 tenants with Japanese brands accounting for 60 percent of the goods.
The Atre will have 12,000 square meters of floor space on the second to fourth floors of the center developed by the Taiwanese group. A total of 210 tenants will occupy the basement and seven remaining floors at the commercial complex.
The two firms said at an opening ceremony in Taipei they expect to post 7 billion New Taiwan dollars ($227 million) in total sales in the complex in the first year.
Breeze Group Chairman Henry Liao said he expects this will offset capital investment within three years. “That estimate, of course, is subject to actual performance in the future,” he added.
That outlook is uncertain given sluggish domestic demand and stiff competition among retailers. The Xinyi District, where the mall is located, is densely populated with department stores.
An Atre official told NNA earlier that the company had studied the markets in Malaysia, Thailand and the United States as well, but chose Taiwan for its affinity with Japanese consumption trends.