Why PAKT CEO Barbara Yu Larsson Calls Herself an Accidental Entrepreneur
Successful entrepreneurs often say that a business idea springs from an unmet need. The same can be said for Barbara Yu Larsson, founder of PAKT, a Hong Kong-based wardrobe management service provider that aims to “revolutionise the way we manage what we wear.”
But while addressing a need that’s already there, Barbara also created a new market for people who need something but haven’t realized it yet.
Calling herself an “accidental entrepreneur,” Barbara relocated to Hong Kong in 2010, concluding a career in investment banking that saw her move from New York to London.
“When I moved here, the lack of space was obvious and the humidity was terrible. We took an extra room just to store our winter clothes. We had heavy coats and suits, ski clothes as well as hiking gear. What surprised me most, after a couple months, was I realised I didn't need most of those things around me,” Barbara told The Beat Asia in an interview.
“No one seemed concerned about clothing and leather care or preserving what they already own. If something got mouldy, you would either [give or throw it] away. This was in 2010, so sustainability wasn't really part of the narrative yet.
What is PAKT?
Barbara grew up in a household where clothing storage was taken seriously. Her mother and grandmother owned beautiful qipaos that had stood the test of time because of how they were maintained. Inheriting the same principle, Barbara became drawn to the idea of a circular wardrobe that puts premium on extending the lifespan of one’s clothes.
Launched in 2016, PAKT keeps your luxury garments and other fashion accessories in a climate-controlled storage facility, maintains a digital inventory of every item, and delivers them whenever and wherever you want.
PAKT’s unique selling point—wardrobe storage solutions—was incepted in the mid-2000s in London when Barbara had the idea of creating a system for items like suits and gowns to be picked up and stored. Despite the 2008 financial crisis that put the brakes on that concept, Barbara knew that when a lightbulb moment flickers on, it’s hard to switch it off.
Recalling her early years as an entrepreneur, Barbara said the idea of revolutionising the way we store and manage our clothes became a passion—an obsession even. So much so that when she moved to Hong Kong in 2010, the Taipei-born entrepreneur brought with her not just suitcases of winter gear, gowns, and well-maintained dresses, but also a strong desire to fulfill her idea.
“People often say that entrepreneurs create companies because they're trying to solve a problem. And that problem is very often their own. I think that's what happened to me,” Barbara said.
“[I was looking for] a storage solution that was 24/7 climate-controlled and would give me a digital inventory of everything I stored. I wanted to be able to tap on an item and get it delivered the next day. That to me was the ideal service,” she said, referring to a specific dilemma she dealt with when they relocated to Hong Kong.
“I looked around. I searched on Google. I talked to all my friends in Hong Kong. Nothing.”
PAKT has three main offerings. First, a storage service for clothes that you wear less often, such as seasonal gear. Items are collected by PAKT’s white glove valets, digitally catalogued, sterilised as needed, hung in a breathable garment bag or kept in a box with acid-free tissue paper, and stored in a climate-controlled facility.
Next is wardrobe digitisation that lets you keep an online catalogue of your clothes. Imagine finding yourself in the middle of shopping and wondering whether the item you’re eyeing to buy is already in your closet. Or preparing for that big dinner and worrying about having to waste your time sifting through clothes. At the tap of a finger, PAKT can display what you have in your wardrobe anywhere you are.
Lastly, PAKT offers consignment services for designer fashion items, so you don’t have to do any work if you want to part ways with your luxury pieces. This end-to-end service covers everything from the collection of the item to price research, photography, and shipping.
On its surface, PAKT seems to have found the perfect market in Hong Kong, where people grapple with limited space and humidity. But at its core, PAKT’s mission rests on sustainability through a circular economy.
“What you already own is the most sustainable, right? My mission is extending the life of garments and the life of leather. I do that through this circular wardrobe service,” Barbara told us. Sticking to this mission despite the changing business landscape does come with challenges. For Barbara, being able to make “small pivots” was inevitable to brave these changes. PAKT is working with various resale platforms including Vestiaire Collective and Hula for its consignment services, giving it access to a global audience while providing well-kept garments with a new lease on life.
Making Small Pivots
Bucking a trend that paralysed many industries during COVID-19, PAKT got a surprise boost from an entirely new segment: bride-to-bes looking for a place to store their wedding gowns as they sat out the pandemic. Barbara said they signed around 80 brides during COVID-19. After the weddings finally happened, many of those gowns remain under PAKT’s care, archived for the next generation.
Apart from gowns, PAKT also began storing the groom-to-bes’ black ties, and even ski jackets, enabling Barbara to expand her business beyond wealthy and stylish women. Today, Barbara said men make up around 30% to 35% of their client base.
“And that's growing all the time. Many people start with seasonal items. If they spend their time traveling, it's very convenient because when they need those clothes, they tap, and we deliver them the next day.”
Last year, PAKT expanded to Singapore, which Barbara said was an easy choice given the city’s similarities with Hong Kong. The brand will also introduce a sharing feature, following the launch of its app last year. This will enable clients to share their clothes and accessories with their peers through an online inventory.
“We waited for a long time partly because of funding, but also because our business was pivoting and changing. I’d always been told [not to] do the app too soon because once you do an app, you'll have to redo it if you pivot your business.”
To bolster its B2B efforts, PAKT is looking into doing rentals with retailers and brands by leveraging its market know-how in inspecting clothes, providing a condition report, and working with the city’s best cleaners. In addition, PAKT is partnering with luxury hotels in Singapore and Hong Kong to allow frequent travelers to leave a capsule wardrobe within their properties.
“If you regularly come to Hong Kong or Singapore, you might want to leave your gym kit, maybe a pair of high heels, a dress, or a jacket. When you leave the hotel, we'll come and collect it. On the form, you can tell us [whether you want your item] laundered or dry-cleaned,” Barbara said.
“We return it to you ready to wear. That means you don't have to take it out of your suitcase and reach for the ironing board as soon as you arrive in your hotel room.”
This move comes as global brands find an intersection between sustainable fashion and the luxury hospitality sector. In March 2023, Four Seasons Hotel Houston partnered with membership club Vivrelle to allow guests access to a closet full of designer bags and accessories from Dior, Gucci, Prada, Chanel, and more.
Beyond Singapore, where she now spends at least a month, Barbara is all eyes on further expansion within the region. Specifically, she is looking into extending PAKT’s footprints to Bangkok and Tokyo, where both space constraints and climate change are mounting problems in the face of consumerism.
Though seasons may change and trends come and go, PAKT is resolute in shaking up our closet through circular fashion and smart wardrobe management.
To know more about PAKT, follow them on Instagram or Facebook.
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