From November 1st, the French luxury brand Louis Vuitton has raised the price of its popular bags in Korea by 4% to 7%. This is another price increase after Louis Vuitton lowered the price of some products by 3% in April this year. The brand has had three price increases last year.
Chanel has also raised the price of a number of popular handbags since this month, with an increase of 3% to 13%. It is understood that this is the fourth price increase for Chanel this year. In March of this year, Chanel raised the price of 462 kinds of products such as jewellery and watches in Korea. In addition, other international luxury brands such as Cartier, Dior and Bulgari are also planning to raise their prices in Korea this month.
I am now in the luxury brand street in Gangnam District, Seoul. Just now we visited several brand stores here and found that many brand-name bags with a price increase of about 10%, the current price is reduced, it is more expensive than last month. About 3,000-5,000 yuan. Moreover, many brands of hot-selling products have been sold out, and need to be booked in advance, and some products are not even able to determine the arrival date.
Some sales people said that after the price increase information was announced last month, many consumers rushed to the price increase to queue up for purchase. In addition to the hot sale, many other models were out of stock.
Some brands said that the price increase was due to rising production costs and exchange rate changes. In the first half of this year, the won depreciated against the US dollar by 3.7%. In addition to the depreciation of the Korean won, the high-priced strategy of luxury brands in the Korean market is also the main reason for price increases.
According to the survey, the average selling price of luxury goods in Korea last year was 14% higher than the international average. Although luxury brand prices are high in Korea, sales continue to rise. Second-hand luxury goods to start Raiders: second-hand Chanel CF reasonable price can also be a surprise!
In South Korea, women between the ages of 25 and 55 have almost one brand-name bag, and the middle- and high-income women's group has promoted the expansion of the Korean luxury market. According to sales data from a department store in South Korea, the total sales of luxury brands entering the department store from January to September this year increased by 24% over the same period last year.
It is understood that the major luxury goods stores in Korea's duty-free shops are also within the scope of this price increase. Considering that many tourists to Korea are shopping, the price increase of luxury goods in Korea may weaken South Korea's tourism competitiveness. Here, we also reminded Korean tourists to pay attention to the adjustment of the price of goods when shopping, and shop around.
