Japanese second-hand luxury brand Otakaraya opened its first overseas store in Hong Kong today (February 22), the start of its expansion into Asia and eventual entry into European and American markets, Invest Hong Kong (InvestHK) said.
Associate Director-General of Investment Promotion at InvestHK, Mr. Arnold Lau, also welcomed the decision, stating, "Otakaraya's choice to set up its first overseas base in Hong Kong confirms the city's position as a leading international retail center. With its vibrant consumer market and business-friendly environment, Hong Kong is the perfect springboard for international brands".
Based in Jordan, Otakaraya's new outlet specializes in purchasing and selling selected luxury brand products, while ensuring environmental sustainability and sustainable fashion. The increased popularity of second-hand luxury items in Hong Kong presents a flourishing market for Otakaraya's products, infusing the local retail environment with new impetus.
Mr. Takeshi Asai, Director of E-FRAN HK Limited, the company overseeing Otakaraya's Hong Kong business, said of the brand's aspirations: "With more than 1,300 stores in Japan as of January 2025, Otakaraya is a leading second-hand luxury retailer in Japan. Our target is to be a trillion-yen company, and overseas expansion is crucial to making that happen".
He further said, "Hong Kong's geographical position in the heart of Asia, combined with its robust culture of luxury brand purchasing and thriving secondary market, makes Hong Kong the ideal location for our first overseas store".
Founded in 2024, E-FRAN HK Limited will manage the business of 'LUXURY BRAND BUY & SELL OTAKARAYA JAPAN' in Hong Kong, dealing in second-hand branded items and luxury jewelry. The opening of the store represents a thrilling move towards Otakaraya's vision of spreading sustainable luxury across the world.