17 Jul '11, 4am

Luxury brands in Taiwan gear up for China tourists

Luxury brands in Taiwan gear up for China tourists

TAIPEI: While a political thaw between Beijing and Taipei has been welcomed, shops on the island see the moment more as an opportunity to cash in, with many of them gearing up for a surge in mainland visitors who spends big. Luxurious group tours have been happening since 2008 but it is Taiwan's recent decision to allow solo Chinese travellers to visit -- the first 300 arrived arrived in Taipei on June 28 -- that has led retailers to invest. The Formosa International Hotels Corporation, intends to spend $10.38 million to renovate the shopping areas at its flagship residence, the Grand Formosa Regent Hotel Taipei, which houses 51 international brands. "The international companies are stepping up investments in Taiwan because they see real profits here," said the group's public relations director Ellen Chang. Taiwanese official data shows that more than 2.2 million Chinese v...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific/vi...

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