Mainland brands shift from F&B to fashion, beauty in Hong Kong retail recovery

Hong Kong's retail property market is seeing a shift in the profile of mainland Chinese brands entering the city, according to a JLL report. While earlier waves were dominated by food and beverage (F&B) operators, the current influx is led by fashion, beauty, skincare, fragrances, leather goods and jewellery retailers. In the first four months of 2026, more than one fifth of new retail entrants were mainland brands, maintaining their lead as the most active sector. However, only 25% of these new mainland entrants in Q1 2026 were F&B, a sharp drop from 73% in 2025.

Cathie Chung, senior director of research at JLL, noted that mainland brands are now competing on design, product quality and brand image rather than just price, aligning with more premium consumer expectations. This diversification is helping Hong Kong landlords fill vacant spaces amid an uneven retail recovery. The trend suggests a maturing mainland brand landscape, with retailers seeking to establish premium positioning in Hong Kong's international market.