Even if playing dress up isn’t your go-to form of self-expression, there’s no denying the important role that fashion plays in all of our lives. This is especially true in a fast-paced, material-driven city like Hong Kong.
The statistics don’t lie. According to a 2024 Meltwater study, fashion purchases make up the highest proportion of online spending for Hongkongers. Meanwhile, the local clothing industry boasts over 12,000 establishments that employ more than 60,0000 individuals across the city, according to an April 2024 report by the Hong Kong Trade Development Council.
Global experts, however, foresee a challenging time for the fashion world in 2025. Influenced by widespread economic uncertainties, a 2025 McKinsey & Company report says that 80 per cent of high-profile executives do not anticipate positive financial shifts in the industry. Their greatest concern? Heightened conservatism amongst consumers when it comes down to how much they spend and what they choose to spend on.
Despite these challenges, a wave of female-led Hong Kong fashion businesses remain resilient.
In recognition of International Women’s Day on March 8, Tatler speaks to Celine Kwan, of womenswear label Celine Kwan; Queenie Fan and Day Lau of accessories brand Cafuné; and Sarah Fung, founder of the preowned luxury retailer Hula, to discuss their journeys as female entrepreneurs and their strategies for navigating this complex industry.
In case you missed it: New York-based Chinese ‘curves’ artist Yuan Fang has her eyes set on Hong Kong this month
What is your brand’s origin story?
Cafuné founders and best friends Queenie Fan and Day Lau (Photo: Cafuné)
Celine Kwan, founder and creative director, Celine Kwan: While I was studying at Central Saint Martins in 2020, we had a “sandwich year”, where we would go out and work. I was at amazing places like Roksanda, Viktor & Rolf and Shrimps. My graduate collection then sparked interest in the press and I started my namesake brand in 2022. It happened organically but it was always my dream.
Queenie Fan, co-founder and creative director, Cafuné: Back in 2015, I was working as a handbag designer in New York. The world of contemporary fashion was thriving and the city, as always, was full of energy and opportunities. I learnt a lot but I couldn’t imagine myself working for [other] brands. I took the leap of faith and came back to Hong Kong, where I partnered up with my best friend, Day Lau, to start our own accessories brand.
Sarah Fung, founder, Hula: After working in fashion for almost 30 years, I noticed the amount of waste produced by the industry. Coming from the UK, buying second-hand was a no-brainer; I wondered why there wasn’t a market [for that] in Hong Kong, so I decided to start Hula. While researching my new venture, I learned that the fashion and textiles industry was the second biggest pollutant on Earth. I had been in fashion for so long but I had no idea. It was an a-ha moment and this [to reduce waste in fashion] became my mission.
As female-led brands, what has been your greatest challenge?
Kwan: Definitely the business side of things. My background is in design, so learning how to expand [the business] and keep it both viable and sustainable has been the most challenging bit. Also, when you look at high fashion designers and creative directors, it’s a very male-dominated space. There are not a lot of Asian female role models.
Day Lau, co-founder and managing director, Cafuné: There aren’t particular challenges being a female-led brand, but there are certainly challenges running a fashion brand in Hong Kong. In general, there is less recognition and promotion of the arts and design. Marketing costs are also very high. Actually, being female-led gives us an advantage: we better understand our customers’ needs and can create accessories that they will appreciate.
Fung: I come from a family of very dominant women who “wore the pants”. I was also fortunate to have worked in a part of the industry where most of my former bosses were women. It was more my race that impacted my opportunities.
However, I know that finding investment as a sole female founder, especially in Hong Kong and in fashion, has its challenges. There is a lot of gender bias. For instance, a report by Women in VC [a US-based organisation] shows that women-founded start-ups raise only two per cent of venture capital funds worldwide, even though women start around 40 per cent of all businesses.
What are your hopes for the industry?
Kwan: My hope is that [the industry] will be more open to different aesthetics. I feel that there are particular styles and trends that are put on a pedestal. And, of course, I wish for it to be truly inclusive.
With all the news about the switch-ups of creative directors [at major fashion houses], it’s tough because it’s mostly Caucasian men. If you think they’re struggling, imagine what a young, independent, Asian-led brand is feeling. It’s also disheartening that making a profit is the main thing for fashion nowadays. I get it—it’s business—but I wish that creativity could come first.
Lau: More support and visibility. We see other Asian regions like South Korea successfully build up their industries to create international brands. This has to be done on a broad scale and through collective efforts.
Fung: I knew fashion in its heyday, when I believed that the industry was a lot more fun and creative. Things have changed and I feel that it has become too profit-driven and arrogant. It’s forgotten about important issues like sustainability and its workers.
However, I believe there are exciting developments coming in terms of sustainability, technology and mindfulness. It is human nature to want to look and feel good, so I believe that fashion will always play an important role in our lives no matter what form it takes.
How has support from other women impacted your journey as a female fashion entrepreneur?
Fashion designer Celine Kwan and her mother (Photo: Celine Kwan)
Kwan: My mum ran her own business. Coming from a somewhat conservative society like Hong Kong, seeing her really act on her dreams gave me the courage to choose this untraditional path. She has always been, like, “Go for it now.” There are also designers that really inspired me growing up, like Anna Sui and Vivienne Tam. Fan: We’ve been very lucky. In fashion, we've met a lot of female role models who have shared their experiences. Collaborating with them has given us the fuel to move forward.
Fung: Having a business comes with extreme highs and lows and these emotions are always best shared. As I previously worked in fashion, I gained a lot of insights from other business owners and female leaders. There are several who I regularly catch up with over coffee and have even become my mentors and advisers. I also have a mostly female clientele. I love hearing their feedback and how Hula impacts their lives.
What have you learned about yourself since starting your business?
Kwan: I think I’m definitely a multi-tasker and I love to work on every side of the business. [I also learnt that] I am a very persistent person and I am focused on my dream. I’ve also seen the more vulnerable sides of myself because when you start a business, you see your worst and best sides.
Fan: Starting Cafuné has been and still is a journey of self-discovery. It’s a multi-disciplinary job and I have discovered my strengths and weaknesses throughout. Two things that have kept me going are perseverance and curiosity. I’m confident in my creations and my team. With that in mind, I know we just need to keep trying and improving.
Fung: I have learnt just how resilient I am. Having such a turbulent few years and coming out the other side with no external investment makes me feel proud. I have also realised that being humble is vital to my growth. To be able to accept failure, take ownership, grow, adapt, learn from my team and always look ahead is imperative.
What advice would you give to your former self?
Lau: Entrepreneurship comes with a lot of uncertainties and it can be a lonely journey, but trusting your own instincts and reaching out to fellow entrepreneurs or seasoned industry experts can keep you focused and on track to achieve your goals.
Fan: I’ve definitely become less shy and more thick-skinned after starting my own business. I wish my former self could have connected, reached out and explored more.
Fung: I would have started the business with better technology as well as a proper back-end system in place. It took me a while to figure out what I needed. Plus, everything was so costly. It would have also been nice to have founding members of the team as it can get lonely. But then again, some businesses fail because the team fails, and at least I can rely and blame my mistakes on myself.
Kwan: Take it easy. [In this day and age], it’s easy to expect things to happen very quickly, but honestly, everything takes time. Everyone is on their own journey, so don’t compare yourself [with others]. Also, take care of your mental health because if you’re not thinking beautiful, you can’t create anything beautiful.
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