This article was written by Francisco Alhambra Pascual. Francisco is passionate about toys and the stories they tell, and brings over 23 years of hands-on experience driving sales and marketing across Asia, Latin America, Europe and beyond in the toy world.
A Hongkonger’s Perspective on Industry Transformation
After more than 20 years living in Hong Kong, I consider myself a Hongkonger. This city moves at a completely different speed—the energy, the noise, the relentless work rhythm. Hong Kong trains you to move quicker, think on your feet, and push yourself harder. The city’s unstoppable energy rewards effort, adaptability, and resilience.
For decades, this same spirit animated Mody Road in Tsim Sha Tsui East, which pulsed as the global toy industry’s heartbeat. Office buildings—Houston and Peninsula Centres, New Mandarin Plaza, Tsim Sha Tsui Centre, Chinachem Golden Plaza, East Ocean Centre—housed showrooms for hundreds of toy companies, from multinational giants to small and medium-sized enterprises. Twice yearly, worldwide buyers descended to preview new products and negotiate deals.
The Pre-COVID Glory Years (2019 Peak)
At its height, Hong Kong hosted approximately 400–500 toy company offices, including 200+ global brands and 100+ local manufacturers showcasing products during peak seasons.
The Royal Garden, Regal Hotels, and InterContinental Grand Stanford overflowed with the worldwide toy community. You couldn’t walk through a lobby without encountering someone in the trade. Restaurants teemed with dealmakers, logistics hummed efficiently, and the walkable proximity between showrooms made deal-closing seamless and affordable. Hong Kong defined toy commerce itself.
The COVID Inflection Point (2020 Onwards)
Then came 2020. COVID-19 lockdowns shattered this model. Major players—anchored by Mattel’s El Segundo headquarters—pivoted buyer previews to April and September in Los Angeles. By 2025, 200+ companies were showcasing products during Spring and Fall Preview events, drawing worldwide buyers to Los Angeles.
The geographic shift was swift: North American retailers are headquartered in the United States. Los Angeles offered concentrated showrooms, major brand headquarters, and synchronized preview schedules. Major brands closed Hong Kong showrooms and consolidated operations on the West Coast.
The Unfinished Story: Asia’s Trends Boom
Yet nostalgia masks opportunity. Trends increasingly originate from Asia. The Asia-Pacific collectibles and blind-box boom is accelerating, driven by “kidults”—adults now accounting for 28–34% of all toy sales globally.
Pop Mart and Miniso’s TopToy maintain regional headquarters in Hong Kong. The Chinese collectible toy maker 52Toys is pursuing a Hong Kong IPO. Walk through Hong Kong’s retail landscape—Pop Mart at K11, Toys”R”Us experience centers, Kayou flagship stores, trading card shops, IN’s Point, Mong Kok toy buildings, Tai Yuen Street—and you glimpse how trends are evolving. This is where the market’s future is being shaped.
Everyone in the industry admits they miss Hong Kong’s vibe—cheaper hotels, effortless showroom hopping, walkable geography. The emotional pull is genuine. But economics demand reinvention. Hong Kong is specializing where it excels: Asia-Pacific collectibles, design innovation, and supply chain orchestration.
Hong Kong’s Strategic Repositioning
The Hong Kong Toys & Games Fair (January 12–15, 2026) signals this pivot smartly. The “Kidult World” zone, the Asian Toys & Games Forum, and Click2Match digital tools indicate clear repositioning toward collectors, investors, and Asian-focused brands.
Hong Kong is emerging as Asia’s design vanguard. The Design Centre’s “Play, Pose & Pixel” exhibition fuses fashion-tech with digital collectibles—AR-enabled figures, blockchain authenticity, and NFT integration. Recent 2025 policies boosting AI development and IP safeguards provide ideal infrastructure for next-generation toys blending physical play with digital ownership.
Manufacturing coordination is another strength. Shenzhen’s factories lie 30 minutes away; Vietnam and Thailand’s toy sectors need experienced coordinators. Hong Kong’s English-fluent workforce, established logistics expertise, and business infrastructure position it perfectly to orchestrate diversified supply chains for brands navigating nearshoring strategies.
The Complementary Market Strategy
Hong Kong’s pre-2020 wholesale role has shifted to Los Angeles. Los Angeles handles centralized North American wholesale meetings, with major companies maintaining permanent headquarters there. Industry convergence in El Segundo is structural and durable.
But Hong Kong and Greater China own Asian collectors, digital innovation, manufacturing speed, and supply chain synergies. Creators, kidults, and distributors visit Hong Kong for culture, emerging trends, and cutting-edge play.
After Hong Kong comes the logical second step: factory runs through Greater China. Shantou’s Chenghai District maintains permanent showrooms year-round, showcasing aggregated factories with 400,000+ toy varieties and experienced staff facilitating samples, quotes, and direct factory tours.
To sense emerging toy trends early, visit Hong Kong. To source manufacturing and coordinate supply chains, work with Hong Kong operators while executing production in South China. To understand where adult collectibles, digital integration, and Asian market dynamics are heading—you need Hong Kong.
That’s the next chapter.
Francisco can be reached on LinkedIn or at – francisco@toyspulse.com
This article also appeared in Edition 19 of The Toy Universe Magazine
