While Zara expands here, an Australian designer brand has revealed plans to tap a new, lucrative market in a bid to take its business to another level.
Sambag, established by founder and designer Samantha Wagner in 1997, currently operates eight stores in Australia, but will now extend its presence offshore for the first time.
Wagner, who considers Hong Kong a “second home” of sorts has now confirmed that he will launch a debut Sambag store in Hong Kong later this month, marking the brand's first foray into international markets.
Commenting on the move, Wagner, who also has family based in the city, said “it was only a matter of time” before he introduced the brand into the Hong Kong market.
“In particular we seek to invest into Hong Kong, as it is an already established retail metropolis, with neighbouring China surging ahead as the strongest emerging retail market in the world. I am confident that bringing Sambag to Hong Kong will be the right way to move the brand forward and introduce the brand to the Asian market,” she said.
The up-and-coming area of Sheung Wan in particular will be essential as a flagship store for the brand’s growth, with Wagner hinting that the launch marks just the beginning of a strong future for Sambag in the Asian market.
“Hong Kong is a world financial centre and a sophisticated shopping city, with a worldwide reputation as one of the top shopping destinations in the world.
"With a population of over seven million and high per capita earnings for the expat community, due to the thriving financial market and low personal income tax rates, the Chinese market clearly has room for new and attractive brands, and the first Sambag store in Hong Kong plays an important role in building up the recognition and brand image.”