June was a landmark month for the company, as it first broke through HK$1 million in monthly sales. A month after that, it had blown past the HK$5 million mark, and it has now ridden that wave to just under HK$10 million today.

Today, some estimate that number has ballooned to upwards of 150, and was as high as 200 at its peak. Hong Kong government offices contacted by the Post said they did not keep track of the number of mask factories in the city.

Companies like 3i had some advantages – outdoor furniture used non-woven fabric, also a critical material for some masks – but not everyone who jumped in had a business background.

One group of filmmakers, moved by images of long lines forming outside shops for expensive but low-quality masks in February, launched one of the city’s first factories, and was already churning out tens of thousands of masks in a matter of weeks.

Selling them at HK$1 a piece, a bargain at the time, they only expected to bring in HK$5 million in revenue in the first month. They ended up trouncing their own target, raking in a whopping HK$80 million, including for a subscription service that locked in some customers for a few months or even a year.

It expanded to 16 machines and pulled in vast amounts of customer data, but the honeymoon did not last long. Masks could soon be found in ample quantities across Hong Kong, delivered to customers in a flash.

“It was a totally different story by then,” said Yeung.

Beyond their subscribers, Mask Factory’s sales proved inconsistent from month to month, with large declines in July and August. Despite the hot start, total sales so far have amounted to just HK$150 million.

Across the industry, companies started altering their strategies. Those that didn’t regretted it, and are either closed down or frantically cutting costs today.

Masks started coming in smaller quantities, decked out in different colours and unique designs as the industry adapted to what was quickly becoming a fashion statement.

“If you are still only selling ordinary medical masks, like those used in the hospital, you cannot survive in Hong Kong,” said Yeung.

His company even expanded beyond masks, launching a spin-off in July called MF Living that sells health lifestyle products such as air purifiers.

The other major shift came in the transition to physical stores, which opened up a whole new customer base of people who rarely shop online. Today, the stores can be spotted across the city, but the trend first started in June.

In-person sales had never seemed a realistic prospect for Masklab, until they saw the foot traffic some had drawn in, and started checking rental prices for shop premises.

By mid-September, Masklab too had opened its first store, in the city’s Jordan district, bringing in as much revenue in its first month as total the online store.

“What we didn’t expect was how crazy it would get,” recalls Chen, who would quickly open a second store in Mong Kok a month later, followed by a third in Causeway Bay.

Mask Factory also had a store by October, which stood out for its model “clean room.” After booking an appointment, and then donning the appropriate protective gear, customers can make their own custom masks while passers-by watch through a large window on the pavement.

Based on the first month of sales, the store is breaking even, said Yeung. He said low rent certainly helps though it still takes up a significant chunk of the store’s costs.

The response has been positive enough that two more shops are to come, both competing with Masklab in Mong Kok and Causeway Bay.

The biggest question on Yeung’s mind is whether the industry, and more importantly for him his company, will prove able to make yet another dramatic shift, so that it will be around even when masks are no longer necessary.

“We didn’t do this business to make a huge profit. But we do want to survive the pandemic,” said Yeung, pointing to MF Living as their hedge for now.

“If one day, another disease comes, we want there still to be local, Hong Kong mask brands that can supply masks to Hong Kong people.”