Hong Kong companies are spending big on this ‘lai see’ envelope tradition that dates back to the 1960s
- Local companies have spent around HK$300 million (US$38.23 million) this year on printed gift envelopes for distribution to clients
In an annual branding exercised intended to help boost corporate images, Hong Kong companies are spending big, forking out a collective HK$300 million (US$38.23 million) on printed gift envelopes for distribution to clients, in the expectation they will be shared this holiday week.
These gift envelopes, known as lai see, are distributed during the first week of the Lunar New Year as a blessing.
Whereas in the old days red paper was used to wrap coins as lai see, today’s lucky packets are part of a newer tradition where red envelopes are embossed with corporate logos.
“We have over 3,000 large corporate clients around the world from Hong Kong, Singapore, mainland China, the US, and Britain. I would say as long as the company is targeting Chinese customers, they need to print the lai see envelopes as corporate gifts,” said Cyrus Cheung, marketing manager of Ecoart Group.
Ecoart is a Hong Kong-based company which is a major printer of lai see envelopes. Its clients include firms such as Sun Hung Kai Properties, China Construction Bank, Coface, Yoho Hall, and the private banking arm of Bank of China, among others.