British fashion labels are seeking a foothold in Asia with an introductory six-day visit to Hong Kong.
As a part of a bid by UK Trade & Investment (UKTI) to encourage and support UK retail exports to Asia, representatives from 24 established and and up-and-coming British fashion labels are meeting in Hong Kong with premium retailer buyers from seven markets around the region. The British visitors have a range of products on display.
On the UK mission are luxury shoe, clothing and handbag retail brands such as Chelsea Paris, Hobbs London, Kat Maconie, Olivia von Halle and Smith & Norbu. Also in the showcase is a group display, Scotland Re:Designed, a platform for Scottish-born or -based fashion designers and textile companies.
The mission is in line with the UK government’s target to export £1 trillion (US$1.4 trillion) of goods and services by 2020. About 18.6 per cent of cross-border consumers buying from the UK are from Asia, and there is a growing demand for British clothing, footwear and accessories. A PwC study shows that the Asian clothing and apparel sector is expected to grow rapidly over the next five years, with the annual average expenditure growth on clothing and footwear predicted to reach 9.5 per cent, which is higher than any other region. Spending on clothing and footwear in Asia is expected to reach almost US$920 billion by 2018.
“The UK is home to some of the most iconic fashion brands in the world and enjoys a world-class reputation for the craftsmanship, design and quality of its products,” says UKTI director Jo Hawley of the British Consulate in Hong Kong.
“Rising incomes are leading more Asian households toward such discretionary purchases, and the retail eCommerce boom in Asia has opened up massive opportunities for our fashion retailers.”
UKTI is a government department that helps UK-based companies succeed in the global economy. It has a network of specialists in the UK, and in British embassies and other diplomatic offices around the world.