The Hong Kong SAR Government is getting behind its fashion and design business following the HK$500m ($64m) grant announced by Financial Secretary, John C Tsang last year.

In his latest 2016-17 Budget speech and as part of a series of tourism stimulus measures, Tsang said: “I announced last year that HK$500m ($64m) would be allocated to further the development of the fashion industry. I shall implement the three proposals made by the Advisory Group on Implementation of Fashion Initiatives.”

He said these include strengthening the promotion of local fashion designers and emerging fashion brands in Hong Kong and overseas; establishing an incubation programme for fashion designers, drawing on the experience of other fashion capitals like London, New York and Seoul; and setting up a resource centre to provide technical training and support for young designers.

The IFA Paris Fashion show 2012 (Photo credit: Max 01234)

ENCOURAGING HONG KONG DESIGNERS
Tsang added: “I shall launch the third phase of the Design Incubation Programme in the coming financial year to help design start-ups build their business networks, publicise their products and conduct market promotions.  The overall admission quota will be increased to 90 design start-ups.”

He also pledged to subsidise ten emerging local fashion brands to participate in the Paris Fashion Week, while the Hong Kong Trade Development Council (HKTDC) will organise fashion shows for Hong Kong designers in the New York Fashion Week, to showcase their brands, raise their profiles and attract overseas buyers.

“We shall launch a series of activities in the latter half of this year.  Among them are the first CENTRESTAGE, an annual international fashion trade fair hosted by HKTDC and fashion shows and forums organised for Hong Kong and Asian brands during the Business of Design Week,” said Tsang.