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Uni-President Beauty Unit Targets Record NT$50 Billion Revenue on Dream Plaza Opening

The company's investment in flagship department store triples initial projections to NT$30 billion
Taiwan
u 1216.TW Blue Chip 150 OM 60 Consumer 250
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Taiwan’s largest food conglomerate Uni-President Group opened its Dream Plaza department store yesterday, with Chairman Alex Lo revealing ambitious revenue targets for the company’s beauty business segment. The division, encompassing drugstore chain Cosmed, department stores, and retail operations, aims to achieve NT$50 billion ($1.54 billion) in annual sales, up from nearly NT$45 billion ($1.39 billion) currently.

Lo disclosed that actual investment in the project reached approximately NT$30 billion ($926 million), roughly triple the originally reported NT$10 billion figure. The new shopping complex replaces the former Eslite Xinyi bookstore location in Taipei’s premium retail district.

The centerpiece attraction features what Lo described as the world’s most expensive Starbucks outlet, incorporating Eastern and Western design elements. He noted the franchise investment was so substantial that “the numbers appear in my dreams,” emphasizing the global uniqueness of the permanent installation without lease constraints.

Dream Plaza houses over 300 brands, though the opening faced operational challenges including multiple power outages in the food court due to excessive electricity demand. More than 60% of tenants represent specialty brands, with 10 making their Taiwan debuts and 60 operating exclusively in the Xinyi district.

Beauty business chief Kao Shiu-ling, who spearheaded the NT$50 billion revenue goal, positions the venture within Uni-President’s broader retail strategy. The group operates Taiwan’s second-largest drugstore chain through Cosmed and maintains extensive department store operations.

Despite competitive market conditions, Lo expressed confidence in capturing greater market share rather than focusing on overall sector growth, suggesting significant expansion potential remains for the conglomerate’s retail operations.

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