GBA Lifestyle News
An elevator convo with Sarah Fung. See here for more from our Next Up series.
What do you do?
I am the CEO and founder of www.theHULA.com, an online platform for the resale of designer womenswear. Our products are collected and curated from industry insiders by invite only, so we offer the best edit as well as guaranteed authenticity. Plus, we donate 5% of profits to partnered charities. We benefit the seller, the buyer, the environment and people who need our help!
How does your business work?
HULA is an online store where you can shop the most amazing curated pieces online. As we hold our inventory, we deliver right away, with free shipping in Hong Kong and a great returns policy. We also have a showroom in Wong Chuk Hang where shoppers can come by to try on items and see new products. We have also just launched BID, a unique service where shoppers can make an offer below the existing selling price, and if the price is within the mark, they get to check out straight away.
For sellers, we offer a VIP butler service where we do everything from collection, photography, uploading and storage of the item until sold. We take between 15 to 35% commission (5% of this goes to charity) and pay our sellers once the item has sold.
How did your business get started?
Towards the end of my last few years working at Lane Crawford, I noticed that there was a lot of waste within the retail market and in Hong Kong. Products had a very short shelf life before they went on sale. My friends and colleagues also had a lot of amazing pieces but they didn’t know where to resell their items. After doing some research, I realized there was nothing in Hong Kong that felt cool and modern. Everything looked old and obviously second-hand. I had the urge to do something about this and to prolong the shelf life of these beautifully made pieces in the hope to pass them on to someone else.
Who are your customers?
They are modern-thinking, fashion-savvy women who care less about always keeping up with current trends and who value quality and sustainability.
Where do you see your business in the next five years?
We want to launch other exciting parts of the business beyond Hong Kong as well as grow our amazing community. We hope to continue to re-educate and change mindsets about buying pre-owned, and to help combat textiles waste, as it is the second largest pollutant worldwide!
