Japanese, South Korean and Thai Brands Drive Hong Kong Retail Expansion
SCMP · 1 SOURCES1 day ago2 MIN
Summary
Japanese, South Korean and Thai brands have captured a growing share of new retail entrants in Hong Kong, accounting for 36 percent of newcomers in the first nine months of 2026, up 7 percentage points from the previous year . Major names like Japanese fashion label Cullni and South Korean footwear brand Khiho have opened their first Hong Kong outlets, while Thai brands including woven-bag retailer Sugar Monday and gelato chain Blendies are also making their debut . Cushman & Wakefield expects this trend of international brands testing the Hong Kong market to continue as retail sales rose 8.5 percent year on year in the first eight months of 2026 .
Key Points
- Japanese, South Korean and Thai brands comprised 36 percent of new retail entrants from January to September 2026, rising from 29 percent in 2025, marking a three-year high
- Japanese fashion brand Cullni opened its first Hong Kong store in Wan Chai, while second-hand goods retailer Ragtag took space at Hysan Place in Causeway Bay
- South Korean footwear brand Khiho entered Hong Kong through a store at K11 Musea in Tsim Sha Tsui
- Thai woven-bag seller Sugar Monday launched at Telford Plaza in Kowloon Bay, and Thai gelato retailer Blendies opened its first overseas outlet at K11 Art Mall
- Mainland Chinese brands accounted for 36 percent of newcomers, down from 38 percent in 2025, while other markets made up the remaining 28 percent
Why It Matters
The rising presence of Japanese, South Korean and Thai brands signals Hong Kong's continued appeal as a strategic platform for regional expansion, particularly as tourism recovers across Asia . While mainland Chinese brands remain significant players, the moderating pace of their expansion suggests the market is entering a new phase where international brands are testing and refining their business models to suit local demand .
The rising presence of Japanese, South Korean and Thai brands signals Hong Kong's continued appeal as a strategic platform for regional expansion, particularly as tourism recovers across Asia . While mainland Chinese brands remain significant players, the moderating pace of their expansion suggests the market is entering a new phase where international brands are testing and refining their business models to suit local demand .