Fung Retailing Group is the retail arm of Fung Group with over 2,500 stores with a focus in the Mainland of China. In this interview, RLI speaks with Sabrina Fung, Group Managing Director of Fung Retailing Group to discuss the recent expansion of a brand and what the future holds.
Headquartered in Hong Kong, Fung Retailing Group represents the retail arm of Fung Group and has a portfolio of international apparel and lifestyle brands, across a wide range of segments – from heritage menswear to women’s fashion, toys, kids apparel, convenience stores and bakeries. The company has grown to become the go-to trusted partner for brands and retailers looking to establish their presence or grow market share in China and across Asia.
They have in-depth knowledge of the consumer and retail industry in China and they leverage its group of companies, technology and innovation to engage consumers with new experiences online and offline. The company owns over 25 brands globally across a wide range of segments including womenswear, leather goods and accessories, menswear, toys, kids, off-price retail, convenience store and bakeries and they operate over 2,500 stores across 12 markets from 83 cities in Mainland China to the UK, France, Korea, Singapore, Malaysia, Thailand and the Philippines.
“The last year has been one of exponential change for the retail sector, especially in Asia where the retail landscape has continued to transition to a more digital omni-channel model, revolutionising the way retailers do business and how consumers purchase,” explains Sabrina Fung, Group Managing Director of Fung Retailing Group. “This has provided us the opportunity to explore innovative technologies, and experiment with new ideas to enhance the shopping experience for our customers.”
Over the course of this year, the company will continue to push the boundaries of retail with the use of new technologies, especially with the challenging macro environment and the coronavirus. They feel that an omni-channel offering and an optimised supply chain is more important than ever. The business has celebrated in the last 12 months the opening of Delvaux, the oldest luxury leather goods house in the world founded in 1829. The Hong Kong flagship store is located in the brand new K11 Musea shopping destination at Victoria Dockside, Hong Kong’s recently regenerated harbour area and in the heart of a stunning waterfront complex that combines heritage and design.
One of the key brands under the Fung Retailing Group umbrella, Delvaux was first acquired by First Heritage Brands Limited in 2011. First Heritage Brands is a portfolio investment of Fung Capital, the private equity arm of the families of Dr. Victor Fung and Dr. William Fung, the Group Chairman and Deputy Chairman of Fung Group. It was acquired with the goal of growing the brand internationally. In honour of the Belgian roots of the brand, the façade of the flagship boutique has taken inspiration from a Brussels masterpiece of architecture, the Palais Stoclet, designed by the world-renowned Josef Hoffmann in 1905.
“The store features a handbag-shaped arched doorway to welcome customers .The store also has an open space featuring the ‘Bag Bar’, a one-of-a-kind, convivial and dynamic meeting point provides a sociable space for sharing and chatting, a focal point for exchanging ideas on colours, textures and styles,” explains Sabrina Fung. Experience is one of the key factors behind the success of Fung Retailing Group. Being part of a company with a rich history and heritage, they have witnessed the evolution of the industry throughout the years. They also have access to a unique Group of companies that span all elements of the supply chain from design and production, through logistics, to the interface with the customer and no other organisation can do this in the way they can.
“Our goal is to be Asia’s leading retail group with a commitment to bringing quality and unique brands into China and the region. Our commitment to innovation runs through everything we do,” says Sabrina Fung. Ms. Fung believes challenges facing the macro environment inevitably bring disruption to all industries and businesses and will surely bring change to the retail industry, whether it’s the change in consumption pattern or a supply chain shift. “Times like these will accelerate the adoption of digital technologies across the retail sector. The goal is a seamless, personalised and rich omni-channel experience across all touchpoints for the shopper,” she explains. “We remain confident in our strategy and we look forward to working towards this goal with our partners and customers in the times to come,” Ms. Fung concludes.