Classic menswear brand plans closer ties

"The age group that is currently between 25 and 35 is the buyer group I am most interested in. Over the next 10 years, I think they will be the biggest part of Drake's China business. I think their tastes are more sophisticated than that of their parents. More importantly, they want to listen and they are keen to learn and try new styles. Most customers in the US and Europe are more set in their ways," he said.

Cho explained that clothes have a psychological dimension, because they always compensate for something else. "Especially when people are young, they want to dress up to feel more mature," he said.

His love of suits began when he was 16, he says, adding that though he no longer needs to wear one he still prefers and enjoys wearing tailored clothing.

He got his first tie from Drake's as a gift about 12 years ago, and was smitten. When the founder of Drake's retired in 2010, Cho moved to take over the company with its then lead designer Michael Hill, and not only for commercial reasons.

"I didn't want my children to lose the opportunity to buy high-quality ties from Drake's," said Cho, who is also the co-founder of The Armoury, a Hong Kong haberdashery that sells menswear, including Drake's ties, worldwide.

However, Cho's financial background makes it clear that there was far more than sentimentality behind his decision to buy Drake's. "The business was financially stable and already on a good trajectory. By adding retail stores and an online store, we are able to earn both a wholesale and a retail profit as well," he said.

Drake's has just two brick-and-mortar stores, both in London. Cho said that rather than making money, the stores serve more as a place to communicate with customers.

"We try to show which ties go better with which shirts and jackets," he said, adding that 70 percent of Drake's sales are still wholesale transactions. Store sales account for about 17 percent of sales, and online sales account for the rest.

Quality is what matters most. "A lot people spend a great deal of energy building brands, but the quality often fails to live up to them," Cho said. What he likes most about Drake's is the fact that all the ties are handmade at Drake's own factory in London with British and Italian fabrics designed in-house.

Michael Hill, head of Drake's design team, said the customers appreciate what they do and how they do it. "Our factory and our design studio are under the same roof in London. Hill said. "I can see through the window from my office to the place where our experienced tailors work, which means I can change whenever I find anything that is not good enough for Drake's."