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Hong Kong's sophisticated consumer market has once again successfully attracted a prominent foreign investor to set up operations in the city.

The first Asian flagship store of leading Belgian ladies fashion brand SCAPA opens today (March 9) in Hong Kong. Operated by Look (HK) Ltd., a subsidiary of Japan's leading ladies fashion manufacturer and wholesaler Look Inc., the new SCAPA shop in ifc Mall will be SCAPA's first flagship store in Asia. The store will offer ladies fashion items, accessories and bags.

Look (HK) Ltd, currently operates 10 shops under different fashion brands. Over the past 18 years, it has invested more than HK$20 million on developing its retail business in Hong Kong. With the new shop, the total number of staff will be increased to 40.

The President of Look Inc., Mr Shigeharu Tao, explained why the company has expanded its presence in Hong Kong. He said, "We believe that we have made the best decision in choosing Hong Kong. The city's sophistication in retail, distribution and management is the main attraction for us to set up a subsidiary here. We also are confident that our business can operate smoothly. In the next two years, we plan to open three more SCAPA shops in Hong Kong - in Causeway Bay, Central and on the Kowloon side."

"We also aim to expand our presence in the China market, which has enormous potential. With its location in the centre of Asia, our operation in Hong Kong will act as an important bridge to connect the business flow between Japan and China."

The Associate Director-General for Investment Promotion at Invest Hong Kong, Mr Simon Galpin, visited the new store at the ifc Mall and was delighted about Look Inc.'s increased investment in Hong Kong. He said, "As Asia's leading fashion centre and style capital, Hong Kong is an ideal place for retailers to build their brand awareness. The consumers here are very fashion conscious and receptive to new brands and products."

He added, "With the economy strengthening, the volume of retail sales has accelerated in the past few months. We believe that local consumer demand will continue to revive and lift retail sales. Inbound tourism, particularly the increased flow of Mainland visitors, also provides great opportunities for retailers like Look and SCAPA. They can showcase their products to this target customer group to build brand awareness, paving the way for future expansion into the China market."

Mr Galpin said, "We wish the company every success in the future, and look forward to more shop openings."

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here.

Ends/Tuesday, March 9, 2004

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