TAIPEI (Taiwan News) — Taiwan’s Shin Kong Mitsukoshi Department Store Company said on Wednesday that its revenue reached NT$95.6 billion (US$3.13 billion) last year.

Shin Kong Mitsukoshi General Manager Wu Hsin-yang (吳昕陽) said despite facing challenges such as labor shortages and rising electricity rates, the company reported a 1.2% revenue increase last year compared to 2023, CNA reported. 

Wu said the Taichung store led in sales with NT$25.8 billion, followed by the Tainan Ximen store with NT$17.6 billion. He is aiming to achieve NT$100 billion in company revenue this year, per UDN.

Wu said the company will continue focusing on information security, labor, and food safety measures, while also enhancing digital management initiatives. The company’s membership reached 4.06 million last year, hoping to grow to 4.5 million this year. 

Shin Kong Mitsukoshi’s third Tainan store, covering around 11,000 ping (36,366 square meters), is set to open in June. The store will target consumers aged 25 to 40 and feature over 180 brands, including local dining options and a cinema.

Wu added that the company would expand its presence in New Taipei and Taoyuan. He also expressed hopes of opening a second store in Taichung.

Far Eastern SOGO Department Stores Chair Huang Ching-wen (黃晴雯) said the company’s revenue reached NT$52.5 billion last year, with a target of NT$52.8 billion this year.