With an investment of CNY350 million, the Hong Kong-listed Chinese watch and timepiece retail group Xinyu Hengdeli Holdings Limited has opened its first luxury watch flagship store in Taiwan.
Located at the intersection of Chung Hsiao East road and Tun Hua South road of Taipei, the new flagship store will be operated under the brand of "Elegant", which focuses on the sales of the world's top watches. As Hengdeli's twentieth Elegant store in Greater China, the new flagship store mainly targets Chinese mainland tourists in Taiwan.
Zhang Yuping, chairman and president of Hengdeli, said that in the Chinese mainland and Hong Kong, the company has gained a leading position in the market. Following its entry into Taiwan in 2009, the opening of the new flagship store represents the company's goal of exploring the Taiwanese high-end watch market.
He said Taiwan has service advantages in the sales of luxury watches. Chinese mainland tourists who buy watches in Taiwan can not only have more brand options, but also can access Hengdeli's after-sales services when returning to the mainland. Hong Kong, Macau, and Taiwan will be the development focuses of Hengdeli in the future.
Hengdeli opened two Omega specialty store in Taiwan's Kaohsiung in 2009 and the company plans to open an additional Elegant store in Taipei in 2010.