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Korean menswear brand Stripes announced today (April 12) that it has set up an office in Hong Kong offering online-to-offline bespoke garments with direct delivery services from Korea to consumers in Hong Kong, as part of its global expansion strategy.
Stripes Strategy Manager Ms Inggeol Kim said that customers can visit its website to request a stylist for consultation at a location that is convenient to them. This service-oriented approach to fashion sets it apart from other ready-made shirt retailers.
The garments will be made in the company's own factory in Korea and delivered from Korea directly to customers. In addition, measurements are stored online for future reference when the same customer orders. The Hong Kong operation will start with offering tailored shirts, and gradually expand its product offering.
Ms Kim said that Stripes has been a hit among young Koreans because it eliminates the hassle of finding the right tailor and provides convenience. She said, "In Korea, our products and services are much sought after by young professionals looking for both style and comfort. We believe that the same business model can be successful in an international city like Hong Kong."
She added, "With over 40 000 body sizes collected from our customers we can make use of big data analytics to continually upgrade our services. We have built a new customised fit system called "NEU-FIT" that can help us identify customers' tastes and advise on the best fitting sizes and patterns for each individual." She added that the company has attracted over US$5 million in funding so far, showing investors' confidence in its commercial viability.
Associate Director-General of Investment Promotion, Dr Jimmy Chiang, welcomed the arrival of Stripes in Hong Kong and said, "Hong Kong is one of the most digitally connected cities in the world, and the consumers are sophisticated. This creates a conducive environment for innovative business models that merge fashion with technology."
About Stripes Inc.
In 2013, Stripes started in Korea as an online platform offering menswear for those who look for customised garments to highlight their own style. The company now offers a variety of colours and designs, plus a range of fabric options for customers to choose online with the aid of a stylist. The company also owns a manufacturing facility in Korea which has a heritage of producing premium shirts for international brands. For more information, please visit stripes.hk.
About Invest Hong Kong
Invest Hong Kong (InvestHK) is the department of the Hong Kong Special Administrative Region Government established in July 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As of December 2015, InvestHK had assisted over 3 820 companies which have created more than 41 200 new jobs in the first year of operation or expansion and over HK$101 billion of investment. For more information, please visit www.investhk.gov.hk.
For event photos, please visit www.flickr.com/photos/investhk/albums/72157666481512480.
Ends/Tuesday, April 12, 2016
Issued at HKT 11:00
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