Vincent Wong had been running garment factories in Hong Kong for more than 30 years. The local garment industry declined in the early 2000s as most manufacturing gradually moved to Mainland China. Wong decided to explore new opportunities, and with the Mainland\u2019s rapid economic growth, saw promise in premium fashion retail targeting the rising number of Mainland visitors to Hong Kong. He established Pompei Limited in 2006, opening its flagship store in the famous tourist hub of Tsim Sha Tsui. <\/span><\/p>\n \u201cDue to its low duty rate and free trading system, Hong Kong is a shoppers\u2019 paradise,\u201d says Wong. \u201cMore and more Mainlanders visit Hong Kong to shop, especially after the Individual Visit Scheme launched in 2003. Due to their stronger purchasing power, luxury items are among their favourite purchase sectors, thus the market has grown steadily. To meet consumer demand, our company opened several retail shops in popular shopping areas such as Tsim Sha Tsui, Sheung Shui, and Aberdeen.<\/span><\/p>\n While many retailers focus on only one or two categories, Vincent Wong always envisioned Pompei as a one-stop shop. For this reason, Pompei currently holds more than 100 fashion brands, covering most product categories from clothing to shoes, bags, and watches. <\/span><\/p>\n \u201cChief among our company\u2019s goals is to provide customers with good quality products. We have professional purchasing teams going to Europe for procurement every season.<\/span><\/p>\n Another way Pompei differentiates from its competitors is that it situates stores above the ground floor. This grants a larger space to display items and saves on rent, in turn allowing the retailer to offer competitive prices for its customers. <\/span><\/p>\n \u201cWhen Pompei was first established, we faced a big challenge: the price of our merchandise was not competitive enough in the market. We finally determined that as a new company, we did not build close connections with suppliers, and our purchase volume was small. These factors had an impact on our purchasing cost, which further influenced our retail prices. We later changed our purchasing methods, and developed closer relationships with suppliers by showing our sincerity for cooperation and increasing our purchasing volume. Our new method was very effective in helping us to reduce the cost.\u201d<\/span><\/p>\nA Varied Approach <\/span><\/h3>\n
The Bigger Picture <\/span><\/h3>\n