Luxify, an online luxury marketplace for buying and selling luxury products, is launching in the Philippines.

The Hong Kong based company, which also has offices in London and Singapore, says it is “particularly excited” about the current “opportunistic times” in the Philippines.

“The Philippines is definitely a growing market for luxury products,” says Alexis Zirah, co-founder of Luxify.

Amidst generally testing times to the global economy, the Philippines has emerged with one of the greatest economic growths in Asia. From being once touted as the “sick man of Asia” the country is now unquestionably stronger, especially after it emerged as the second fastest growing country in Asia last year.

The reported economic growth of 6.1 per cent in 2014 is also complemented by an influx of high-end brands and foreign companies. The forecasts for the future are similarly positive, with companies and consumers showing strong confidence.

The recent setup and success of luxury brands throughout the Philippines has set the foundation for other affluent brands to prosper.  Luxify says it is confident of seeing more prolific consumers in the Philippines who are hungry for luxury and increasingly influenced by eCommerce.

“The spurt of growth in the Philippines is very encouraging, especially for sophisticated brands like ourselves,” says Zirah.

“There is still a lot to explore in this market and with consumers being more open to luxury, we have an exciting lineup ahead. This month we have teamed up with Salcedo Auctions, the only auction house in the Philippines to specialise in the sale of fine art, jewellery, decorative arts and collectible accessories, for their upcoming Collectors’ Sale auction, all of which complement our vision and product range wonderfully,” he added.

The types of products listed in the auction include international and traditional Filipino art pieces, classic furniture, elegant jewellery, as well as collectible books, maps, and paintings.

Details of each item are listed on Luxify’s website and interested buyers could also visit Salcedo Auction’s centre in Manila, for a special preview until June 5, before the auction begins on June 6.