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Highlighting Hong Kong's appeal as a luxury shopping paradise, Fedon, one of Italy's premier leather accessories retailers planned to open a flagship store in Hong Kong.
The success of Fedon's first Asia store of its brand "Giorgio Fedon 1919", which opened less than two months at the Hong Kong International Airport, prompted the decision, explained the managing director of Fedon Far East, Mr Alberto Agostinacchio.
The retail outlets which focus on travel and lifestyle accessories, together with the facility for Fedon's another key business area, spectacle cases, in Shenzhen ― currently the world's largest manufacturer of spectacle cases with some 18 million cases a year ― will bring more than 500 jobs to the region, said Mr Agostinacchio.
"Hong Kong makes sense for us on a number of levels. It has sophisticated and discerning consumers who recognise and appreciate quality. It offers a business-friendly environment with low taxes and an efficient government ― and it positions our staff in a key location within easy access of high growth markets, like Japan, South Korea, Singapore, Shanghai and Australia," said Mr Agostinacchio.
"Our facility in Shenzhen will also benefit from the increased level of business, legal and financial services which we are injecting into our Hong Kong operation," added Mr Agostinacchio.
Head of Consumer, Retail and Sourcing at Invest Hong Kong, Miss Rowena Hoy welcomed Fedon's expansion. "Hong Kong is already home to the largest concentration of international brands in Asia, so it's a natural choice for Fedon to explore this exciting region from Hong Kong," said Miss Hoy.
Miss Hoy added that Hong Kong's position as a shop window for brand-conscious shoppers from Mainland China would also help extend Fedon's reputation across the region. "Last year we welcomed 25 million visitors, with a large percentage being style-sensitive, affluent and internationally-minded shoppers from key Mainland cities. The experience Fedon gains in Hong Kong will be invaluable for its 2008 planned expansion into Shanghai and Tokyo."
Established in 1919 in Northeast Italy, Giorgio Fedon S.p.A has evolved from a handicraft workshop to a retail and manufacture company listed in Paris. Combining innovative technology and traditional craftsmanship, Fedon is at the forefront of its industry. In 2000, Fedon established its own luxury brand, "Giorgio Fedon 1919", with a range of stationery, fine leather accessories and business bags. It now has stores in Milan, Paris, Munich, New York and Hong Kong.
Another major business of Fedon is producing spectacle cases with its facilities in Italy, Romania and China, to service luxury brands such as Chanel, Gucci, Cartier, Versace, Ray Ban and Prada. For more information: www.giorgiofedon1919.com and www.fedon.it.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish or expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Monday, March 12, 2007
Issued at HKT 14:49
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