Retail in Asia

In Shops

Setting up shop in Hong Kong – The British are coming!

The recent confirmation that Top Shop, one of UK’s most successful well-known "fast fashion" brands, will open its first Hong Kong store at Asia Standard Tower is the latest commitment from a UK retailer to the city and follows a renewed influx of UK brands including Jack Wills, House of Holland, Timothy Oulton and Solange Azagury-Patridge who have all entered the market in the past 12 months.

Despite rents in prime locations being four times higher than in London, short lease lengths and no security of tenure, the appeal of Hong Kong amongst UK retailers is showing no signs of abating.

In the recent past, the motivating factors were simple to understand. Asia’s economy was growing at the same pace that Europe’s was declining, and Hong Kong was seen as a stepping stone to mainland China. Some brands took comfort from Hong Kong’s historical links with the UK and the sizeable expatriate population.

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(Source: scmp.com)