This article appears in the June 2024 issue of Forbes Asia. Subscribe to Forbes Asia
Shirley Kao (left) and her husband, Uni-President Enterprises Chairman Alex Lo, attend the opening ceremony of a department store in Tainan.
udn.com
This article is part of Forbes' ranking of Taiwan's richest people for 2024. See the full list here.
As part of its mega growth plans, Uni-President Business Group proposed to buy South Korean beverage maker Woongjin Foods' remaining shares in January, adding the company to its expanding portfolio.
A Carrefour supermarket in Taipei's Songshan District.
Forbes Asia
This follows its $827 million acquisition of its joint venture partner last year to become the sole owner of Taiwan's Carrefour hypermarket and grocery store chain. Uni-President Stores reportedly plans to open 15 new stores per year under the Carrefour brand across Taiwan, increasing its total number to 500 from the current 314.
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Meanwhile, the group, Taiwan's largest convenience store operator with approximately 7,000 Seven-Eleven stores across the country, has just opened Taiwan's largest Seven-Eleven store, measuring 660 square meters, in Tainan City.
UniCom, which sees sales rise 11 percent to NT$581 billion ($18 billion) in 2023, is also looking to expand online to grow. In March, Chairman Alex Lo told investors he wanted to buy $25 million in Yahoo Taiwan convertible bonds and roll out a “future e-commerce strategy.”
Mr. Lo and his wife, Shirley Kao, a director (the late Kao Ching-Yen was a co-founder of the company), saw their net worth rise slightly to $1.3 billion.
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