I came back from Japan end of last month and bought 1 wallet and 2 bags, it definately cheaper than HK for bags but wallet price just a little bit. And I went to Festvial Walk shop begining of March, I didn't see that style but I went to last Sat again, I could see it. So it seems not too late for the new style between Japan and HK.
Wallet cheaper than HK $130 (HK PRICE $1180)
Bag cheaper than HK $230 (HK PRICE $890)
Bag cheaper than HK $405 (HK PRICE $1680)