I can't speak for the Hong Kong or other satellite offices, but the NY office is a toxic wasteland.
The majority of the senior staff are ineffective at best. Junior employees are expected to do all the work, but are undermined and micromanaged at every turn. Because the office is so small and the budget is so tight, there is no place to advance.
To make a bad situation worse, it's an open office layout, and management encourages a Big Brother culture of surveillance and secret meetings. Managers constantly go through other people's drawers and personal effects. There is a huge lack of trust, and a lot of personal politicking.
Running out for coffee is frowned upon, as is saying good morning or fraternizing with other coworkers. Any hint of smiling or laughter is immediately squashed by whatever means necessary.
As if the people and politics weren't bad enough...the company expects you to use your own phone for work purposes without reimbursement. Senior managers expect junior employees to use their own money to purchase garment samples and other items because the company is too cheap to get a corporate card. They also won't provide pens or other basic office supplies due to "budget constraints".
The office technology is outdated, there is not enough support per team due to budget cuts, and there is no technical training.
The company tries to advertise the NY office as merchandising only, but it actually serves a sales and marketing function. The senior managers get an annual sales bonus, but it "doesn't trickle down" to junior employees because they're "just merchandisers", despite being in a customer facing role and conducting sales pitches.
The company doesn't offer vision insurance, yet the CEO touts her charity work providing children in rural China free eye exams.