Why Hong Kong is a fledgling hub for pre-owned Hermes bags and other luxury goods

Hong Kong’s market for pre-owned luxury goods such as Hermes and Chanel handbags has attracted a growing number of resellers from countries such as the Philippines and India, according to industry players.

Second-hand luxury retailers said Hong Kong had become a top choice for sourcing among Indian and Filipino merchandisers, owing to the city’s reputation for selling authentic goods, ease of travel and tax-free status.

They also pointed out that the city had a vast amount of second-hand luxury goods due to residents’ relative wealth.

Tim Lo Hiu-fung, owner of Coco Approved, a second-hand and consignment store that has been operating for 11 years, said the number of Filipino buyers had increased notably following the pandemic.

“We had quite a lot of Filipino sellers who literally just came in and took photos and then sent them to the clients or even did live sales,” Lo stated, referring to the practice of selling to customers through live streaming via social media.

The pre-owned luxury trade was put in the spotlight weeks ago when a male robber stole 14 pre-owned Hermes handbags before police arrested him and recovered most of the items.

Hermes is known for its secretive and exclusive allocation system in which specific highly coveted bags such as the Birkin and Kelly models are rarely displayed openly and are only offered to a clientele who have significant purchase histories or fulfilled certain “pre-spend” requirements.