Jackson Wang has joined the Alibaba-owned Taobao’s PapaHome as a strategic investor. With Hong Kong’s online retail lagging behind mainland China, he’s banking on merging offline and online to close the gap
Global superstar Jackson Wang has made an unexpected business move: investing in Taobao’s PapaHome, a physical furniture store in Hong Kong. It’s a contrarian play in an increasingly digital world, but the numbers tell a compelling story about why bricks-and-mortar still matters.
Hong Kong’s online retail penetration sits at just 16-18 per cent, while mainland China has reached 40-50 per cent. This sizeable gap reveals something crucial about Hong Kong consumer behaviour: people here need to see and touch products before committing to big purchases.
“We live in a time of information overload, yet true certainty is scarce. The digital world can show you many things, but only real, face-to-face experiences can prove what’s genuine,” Wang said in an exclusive statement to Tatler, explaining why he chose to invest in Taobao’s PapaHome. “That’s why I believe in being there—seeing it, feeling it, and knowing it for myself. This partnership with Alibaba’s Taobao and PapaHome is about bringing that undeniable trust back into business, on the ground and in the real world.”
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Taobao’s PapaHome is expanding to new locations in Hong Kong
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Wang might be on to something here. Since PapaHome opened in February, the store has served over half a million people, with a remarkable 20 per cent converting to paying customers. More tellingly, customers are confidently placing six-figure orders through Taobao's platform after visiting the physical store.
This is the online-merge-offline (OMO) model in action—customers experience products in-store, scan QR codes for details and exclusive discounts, then purchase via the app. It’s not about choosing between digital and physical; it’s about using both to build trust and drive conversion.
“This highlights the critical importance of the physical experience in Hong Kong,” said Andy Wong, CEO of Taobao’s PapaHome. “That’s why we’re doubling down by expanding into new locations.”
