Sustainable High Fashion in Hong Kong

For second-hand luxury goods retailer Komehyo Holdings, Hong Kong is the ideal location to fuel both regional and global growth.

Hong Kong has earned a reputation as a world-renowned shopping paradise, attracting millions of tourists and shoppers from around the globe. The city boasts a significant presence of luxury brands, which has played a central role in helping second-hand goods seller Komehyo Holdings grow its business. Since 2013, the Japanese company has been operating in Hong Kong as its first overseas base. With a business concept of “Relay-Use”, the company reaffirms its strong commitment to promoting a sustainable value chain by placing an emphasis on recycling and environmentally friendly approaches. In response to the growing demand for responsible and sustainable shopping options among Hong Kong consumers, the company has recently announced plans to expand its presence in the city and establish it as their regional headquarters in Asia.

Booming Luxury Retail Market

Home to a large population of affluent and discerning consumers with an appetite for high-quality branded items and a growing interest in sustainability and circularity, Hong Kong is an ideal location for companies operating in the pre-owned luxury goods market. Indeed, consumers have already embraced Brand Off, a vintage luxury goods chain that Komehyo acquired in 2019, and new branches of the store have continued to open across the city.

“We handle a huge variety of products, and the market demands and trends can shift very quickly. Because our business is well-established in Hong Kong, and because goods can easily flow in and out of the city, we can supply and sell products in a timely manner while tracking demand trends in Hong Kong and other countries across the region,” said Yuya Yamauchi, Director, Komehyo Holdings Co., Ltd.

Expanding the Brand

Komehyo currently employs more than 80 staff in Hong Kong across a variety of functions, including retail, merchandising, eCommerce, business-to-business (B2B) and corporate management. “Hong Kong has a rich talent pool characterised by individuals with multilingual skills, a global perspective, and a strong work ethic,” said Yamauchi, adding that this diverse talent pool is especially valuable for foreign companies like Komehyo. And with the establishment of the regional headquarters in Hong Kong, the company plans to recruit even more employees to support its growing operations.

“In the short term, Komehyo plans on opening more retail outlets in Asia Pacific while strengthening buying in the region. At the same time, we aim to leverage investments from Hong Kong’s business operations to pave the way for longer-term growth into other global markets, including Europe and the United States,” Yamauchi said.

“Hong Kong’s unique advantages, including its free-port status, low tax rates and strategic geographical position at the heart of Asia, are conducive to helping us tap into other markets in the region,” Yamauchi said. “The new regional headquarters is a milestone in our strategic efforts to expand our business in Asia and beyond. We hope to grow further by making the most of Hong Kong’s competitive edges.”