scoop_image.jpg

CENTRESTAGE Draws 7,700 Buyers | Scoop News

[ad_1]

60% of survey respondents anticipate growth in sales
within the next 1-2 years

HONG KONG, Sept 11, 2023 –
(ACN Newswire) – Asia’s premier fashion event CENTRESTAGE,
organised by the Hong Kong Trade Development Council (HKTDC)
with Create Hong Kong (CreateHK) of the Government of the
Hong Kong Special Administrative Region (HKSAR)* as the Lead
Sponsor, concluded successfully on Saturday. Extreme weather
conditions temporarily suspended the fair on Friday, 8
September but the three exhibition days still attracted more
than 7,700 buyers from 78 countries and regions visiting and
making purchases. Notably, buyer numbers from the Middle
East, Mainland China and ASEAN countries recorded
significant growth, affirming the exhibition as a popular
international platform for promoting and launching fashion
brands.

HKTDC Deputy Executive Director Sophia Chong
said: “CENTRESTAGE brought together fashion brands from all
over the world and serves as an important platform for
promotion, trade and exchange in Asia. We actively invited
local and overseas buyers to visit the show, including
well-known retailers and buyers from France, the United
Kingdom, Germany, Japan, Indonesia, and more. Our goal is to
assist local brands in entering the international market and
expand their business footprint. CENTRESTAGE stays closely
attuned to global trends and, in this year’s fair, has
infused a substantial amount of digital fashion and
sustainable development elements. We also provided valuable
platforms for fostering the exchange of ideas, joining
forces with the industry to drive innovation.”

85% of
respondents named Hong Kong as their top choice for physical
trade fairs

To gauge fashion industry outlook and
product-trend views, the HKTDC interviewed 350 exhibitors
and buyers in an on-site survey during
CENTRESTAGE.

Hong Kong-designed fashion products were
of the same quality as those in developed markets, 67% of
respondents believed, while 85% of respondents named Hong
Kong as their top choice for physical trade fairs. This
reflects Hong Kong’s significant position in the global
fashion industry.

Most respondents were optimistic
view on overall sales for next year, with about 60% of
respondents anticipating growth in sales within the next 1
to 2 years, while 37% even expected an increase within six
to twelve months.

As business travel gradually
resumed, 30% of participants anticipated a return of
business growth to pre-pandemic levels within a year, while
26% believed it may take a year and half.

The rise in
demand in emerging markets and recovering consumer
purchasing power were seen as key business opportunities
this year, with approximately 45% of respondents expressing
this view for each aspect. Simultaneously, more than 60%
perceived the fluctuations of global economy as the major
challenge.

The pandemic impacted business operations
but also accelerated the widespread move of business to
online channels. For 47% of respondents, half or more of
sales/purchases over the past six months were conducted
online. Moreover, 78% of participants anticipated half or
more of their sales/purchases would take through online
channels in the next two years. Of the respondents 36% named
hktdc.com Sourcing as their top
online trading platform used in the past six
months.

Industry highlights the importance of
sustainability

The survey revealed a growing emphasis
on sustainable fashion; 74% of respondents agreed this would
be prevalent in the industry this year.

CENTRESTAGE
opened to the public on its final day. More than 30 fashion
shows and events were organised throughout the fair,
attracting enthusiastic participation from both industry
professionals and the general public. HKTDC partnered with
various organisations to host events promoting sustainable
development in the industry. The fair also featured the
participation of multiple local and international fashion
brands that embrace sustainable practices.

CENTRESTAGE
has successfully created business opportunities for
exhibitors and buyers. Established in 2019, the Hong Kong
sportswear brand ARTY:ACTIVE uses 100% recycled fibre.
Through CENTRESTAGE, the brand has connected with customers
from Mainland China in the past, providing clothing design
services. It also successfully entered the Malaysian market
through another HKTDC event. The brand returned to
CENTRESTAGE this year and achieved satisfying results.
Founder Gary Tsang said: “Our aim was to promote our brand
and expand into the international market. We are pleased to
share that among the buyers we met at the fair, eight buyers
from Thailand, Korea, Cambodia and Vietnam are planning to
place orders, resulting in a total business value reaching
seven-digit Hong Kong dollars. We have successfully
accomplished all the goals we set for our
participation.”

Rachael Spink, Senior Buyer from
Etoile Group, UAE, visited the fair to source fashions for
their five Etoile La Boutique outlets across the Middle
East, including Dubai, Abu Dhabi, Qatar and Saudi Arabia.
She said: “We are striving to differentiate ourselves from
other stores in the highly competitive Dubai market, which
is why I am actively searching for new and exclusive brands.
Our customers have a preference for unique fashion choices
and I am delighted to discover such options among the
talented designers at CENTRESTAGE. During HKTDC’s
business-matching meetings, we met five brands that
demonstrated immense potential. If we proceed with placing
orders from them, our estimated purchases would be
approximately US$50,000.”

Liu Xinyi, the Head of
Buying of Chongqing’s S.N.D Ltd., expressed that her visit
to CENTRESTAGE exceeded expectations. She said: “In the
past, we primarily focused on attending fashion weeks in
Paris, Milan and Shanghai. This year marked my first time
participating in CENTRESTAGE, and I was pleasantly surprised
to discover a multitude of emerging design talents. The
works of the students were incredibly stunning and mature.
Additionally, I had the opportunity to meet with eight
designers from Hong Kong, Japan, and Korea through business
matchmaking meetings. I plan to further follow up with four
of them, as it opens up new partnership opportunities for
us.”

© Scoop Media


 

[ad_2]
Source link

Comments are closed.