Giant Sets Up New HQ and R&D Center in Taiwan
Giant is setting up a new global operations headquarters and research & development center in the Central Taiwan Science Park in Taichung City. Last August reports on these plans appeared in the Taiwan press. At Eurobike President Tony Lo of the Giant Global Group confirmed that the company will build the new HQ and R&D center.
Tony Lo said further that Giant needs the current location of its head office in Taichung for production expansion. “It means that the old office which is known by so many people throughout the industry will be demolished.” Construction of the new HQ and R&D center will start in 2013.
Rapidly rising sales in China
Giant needs more production capacity in Taiwan as its sales of mid to high end bikes in China is rising rapidly. The largest bike maker in the world sells its bikes in China for retail prices starting at RMB 1,058 (€123.40 – USD166.70); according to a recent Bloomberg report.
A greater awareness about fitness among the Chinese is helping Giant to sell pricier models. The company expects its revenue from China, its single-largest market, to increase 15 percent to about RMB 6 billion (USD942 million) next year, driven by sales of mountain bikes, according to Young Liu, China president for Taichung, Taiwan-based Giant. Sales in China, which accounted for about a fourth of Giant’s total sales last year, will rise 40 percent to more than RMB 5 billion this year, Liu said.