Survey indicates that over 60% in the industry foresee sales growth in the next two years
- Home InStyle and Fashion InStyle concluded successfully today. The two fairs gathered global creative designs, attracting some 24,000 buyers from 100 countries and regions
- Non-local buyers mainly came from Mainland China, Japan, Indonesia, Taiwan and the United States
- Survey showed over 60% of respondents believed overall sales will increase in the next 12 to 24 months
- Respondents from Home InStyle believe sales prospects are promising in the Middle East, Mainland China and ASEAN markets. Meanwhile, respondents from Fashion InStyle consider Taiwan, Latin America and ASEAN as markets with favourable sales prospects
HONG KONG, Apr 23, 2024 – (ACN Newswire)
Home InStyle and Fashion InStyle, organised by the Hong Kong Trade Development Council (HKTDC), concluded at the Hong Kong Convention and Exhibition Centre today. The four-day fairs attracted some 24,000 buyers from 100 countries and regions, with a significant presence from Mainland China, Japan, Indonesia, Taiwan and the United States. Global buyers actively participated in the two fairs, proving Hong Kong’s status as the creative capital of Asia.
Sophia Chong, Deputy Executive Director of the HKTDC, said: “Home InStyle and Fashion InStyle, held concurrently this year, have effectively converged the latest global trends in home and fashion lifestyle products. The fairs have enticed professional buyers and buying missions from different countries and regions, including renowned fashion e-commerce giant Zalora, Glop Studio from France, Carrefour’s Turkiye Branch, Hometeka do Brasil S/A from Brazil, Hyundai Department Store from Korea and The Mall Group from Thailand. These events have created cross-sector opportunities for the industry. The HKTDC remains committed to promoting the development of the fashion and creative sectors and we will continue to inject new vitality into the Hong Kong fashion and creative industry by organising CENTRESTAGE, the HKTDC Hong Kong Watch & Clock Fair and Salon de TE in September this year, building upon the success of these two fairs to reinforce Hong Kong’s status as the creative capital of Asia.”
Survey reveals optimistic sales-growth outlook
An independent research agency commissioned by the HKTDC interviewed some 740 exhibitors and buyers. Of the respondents, 64% believe overall sales will increase in the next 12 to 24 months.
Among Home InStyle respondents, 36% identify business leads driven from e-tailing as the most significant business opportunity this year while 42% of Fashion InStyle respondents believe the major opportunity lies in recovering purchasing power from customers.
Home InStyle respondents predicted that kitchenware and tableware (22%) would have the biggest growth potential this year, while simple design (25%), smart home products (24%), and environmentally friendly and energy-saving products (22%) will be the most popular trends. Fashion InStyle respondents identified urban clothing (35%) and womenswear (33%) as having the highest growth potential.
In terms of the market outlook, respondents from the Home InStyle believe sales prospects are promising in the Middle East (89%), Mainland China (79%) and ASEAN (76%) markets. Meanwhile, respondents from Fashion InStyle consider Taiwan (75%), Latin America (74%), and ASEAN (72%) as markets with favourable sales prospects.
Expanding business networks and pioneering new markets
Home InStyle and Fashion InStyle attracted exhibitors from 17 countries and regions, including emerging markets such as Mainland China, ASEAN and the Middle East. The fairs boasted over 2,200 exhibitors. Aligning closely with sustainable development trends, both fairs featured an extensive range of eco-friendly products. Notably, Home InStyle directly responded to the Hong Kong SAR Government’s newly implemented plastic-free regulations on disposable tableware, offering alternative solutions to industry buyers.
The portable foldable cutlery set offered by the Hong Kong exhibitor, Uphold Living Ltd, was the highlight at Home InStyle as it provides a sustainable alternative to disposable cutlery. Eric Tong, Director and Co-founder of the company, said: “A German buyer will be our sole distributor in Germany and the United Kingdom and placed an order for 10,000 sets valued at US$136,500. We have found potential distributors from Korea, Singapore and the US and potential buyers from Taiwan and Hong Kong. The pre-fair news coverage has also generated four leads from local buyers.” In addition, Saudi Arabian exhibitor, Plastic Manufacturing House Co., made its debut at the fair where it engaged with buyers from South America, Canada, Europe, Morocco, the Philippines, Mainland China and Hong Kong. The company is confident it will strike a HK$400,000 (US$51,000) deal with Moroccan buyers.
Indonesian buyer Mulianingsih planned to procure plastic boxes and glass food containers worth over US$400,000. She said: “At the Home InStyle, I could directly purchase new products from suppliers at lower prices. So I don’t have to rely on Jakarta’s distributors. Through Click2Match, I identified two potential suppliers for plastic boxes and food containers and have already placed sample orders. It was a brilliant idea to co-locate the Home Instyle and Fashion InStyle, that allows me to source fashion accessories under one roof.”
Global fashion buyers flocked in for sourcing, Click2Match fosters business discussions
The Taiwan Creative Industry Development Association brought five brands and two jewellery designers to exhibit at Fashion InStyle. According to Brian Hsueh, a supervisor at the Association, the exhibition allowed them to connect with over 30 potential buyers from Mainland China, India, Indonesia, Myanmar, Russia, Singapore, Spain, Sweden, Vietnam and other locations. They estimated they can secure orders valued at over US$200,000. Mr Hsueh remarked: “This exhibition has met our expectations very well, proving it to be an effective shortcut for Taiwanese brands to engage with the world.”
Tze Her Ying, Chief Operating Officer, Saturday Club, visited Fashion InStyle to source items for the Singapore-based online fashion brand specialising in ladies’ wear. She has identified two suppliers and made plan to order approximately 5,000 items, including sportswear like yoga wear, from a supplier within the Athleisure zone. She noted: “I was impressed by the fair, and the Click2Match business matching platform was very useful. It allowed us to identify potential suppliers before even arriving at the event. I highly recommend companies in the industry to visit this exhibition.”
Under the HKTDC’s EXHIBITION+ format buyers and sellers can network through the smart business-matching platform Click2Match after the fairs close.
The Hong Kong Trade Development Council (HKTDC) has a lineup of exciting exhibitions this month. The Hong Kong Gifts & Premium Fair will take place from 27 to 30 April at the Hong Kong Convention and Exhibition Centre. The Hong Kong International Printing & Packaging Fair and the inaugural DeLuxe PrintPack Hong Kong run concurrently at the AsiaWorld-Expo during the same period. The Hong Kong International Licensing Show and Asian Licensing Conference will also be held at the Hong Kong Convention and Exhibition Centre from 27 to 29 April. These five events will create cross-discipline business opportunities and generate greater synergies for the industries.
About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
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