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"Currently, China is shifting its focus of opening-up from trade in goods to trade in services. During the first seven months of this year, China's trade in services stabilized, trade deficit decreased and knowledge-intensive industries grew despite the challenges brought by COVID-19.Services trade has become a new bright spot in the development of international trade," he said.

"China sales account for 6 percent of our total revenue, and we hope to increase the figure to 15 percent in the near future," said Pharoah, adding that consumers are evolving with individual demands.

"Chinatown, in its own way, is evolving to cater for different tastes," he said. "We're seeing now lots of students from the Chinese mainland hanging out in Chinatown. They might come from different parts of China and have different tastes, but the businesses are responding to that."

"Chinese consumers have been really receptive to the product and its proposition. The reuse rate is extremely high. We see a robust market there owing to Chinese mothers' preference for safer and more premium baby formulas, the consumption upgrade and the universal second-child policy, that have helped to adopt and grow this new category and lead a new trend," he said.

"Compared with buying items in a store, clothing rental services allow women to update their look more frequently and wear more dresses that they could not normally afford to buy. So it is truly a business opportunity," she added.