Japanese, South Korean and Thai brands reach 36% of Hong Kong retail entrants

Hong Kong’s first-store appeal grows as more Japanese, South Korean and Thai brands arrive

Japanese, South Korean and Thai brands increased their share of new entrants in Hong Kong’s retail property market by 7 percentage points in the first nine months of 2026, reaching more than one-third, according to Cushman & Wakefield.

The three overseas markets accounted for 36 per cent of new entrants, matching mainland Chinese retailers, even as demand for shops from mainland Chinese brands slipped.

The shift comes amid a recovery in tourism, according to the report.

Overseas brands reach three-year high

Cushman & Wakefield said a slew of new brands lifted the combined share of Japanese, South Korean and Thai retailers to a three-year high.

The property consultancy also said it expected the trend to continue.

The stronger presence of these brands is reflected in new store openings and leases across major retail locations in Hong Kong.

Japanese fashion brand Cullni opened an outlet in Wan Chai this year.

Second-hand goods retailer Ragtag took space in Hysan Place in Causeway Bay.

South Korean footwear brand Khiho entered Hong Kong through a store at K11 Musea in Tsim Sha Tsui.

Together, the new entrants underline the growing role of Japanese, South Korean and Thai brands in Hong Kong’s retail property market, while mainland Chinese retailers’ share of demand has weakened.

Source: South China Morning Post