Under Armour to close store in Taipei’s Gongguan, signals decline for commercial circle

Real estate expert Sway reports that because landlords in the area continue to hike rents, specialty stores have disappeared

Taiwan News
Date: 2019/06/25
By: George Liao, Taiwan News, Staff Writer

Gongguan. (Wikimedia Commons photo)

TAIPEI (Taiwan News) – The Taiwan financial and real estate expert, known by the nickname "Sway," is predicting the Gongguan commercial circle near National Taiwan University (NTU) will decline, as reports suggest sporting goods brand Under Armour (UA) will close its Gongguan store at the end of this month, United Daily News (UDN) reported on Tuesday (June 25).

The rent for UA’s Gongguan store is reportedly NT$1 million a month. UA had agreed a contract to rent the store until August 2022, UDN reported.

Sway said the university’s commercial circle was originally designed to attract not only students but also tourists. However, since landlords have kept hiking rents, many of the specialty stores in the area have left and were replaced by international brands.

Sway added that these stores sell well-known brands and commodities, but lack character, and since they are ubiquitous do not provide a compelling reason to visit or shop in the area.

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.