Luxury Brands Are Rising In Korea, And LV, Channel And Dior Are All Listed.

Since November 1st, luxury brands such as bags, watches and jewellery have raised the prices of their products in the Korean market, many of which are not the first to rise in Korea this year. Why do luxury brands collectively increase prices in Korea?

Since November 1st, French luxury brand Louis Weedon has raised the price of its popular luggage products in Korea by 4% to 7%. This is another increase in prices after Louis Weedon raised the price of some products by 3% in April this year.

The brand had risen three times last year.

Chanel also raised the price of many popular handbags this month from 3% to 13%. It is understood that this is Chanel's fourth price increase this year. In March of this year, Chanel had raised the price of 462 kinds of jewelry, watches and so on in Korea. In addition, Cartire, Dior, Bvlgari and other international luxury brands also plan to raise the price in Korea this month.

Financial channel special correspondent Liu Zheng: I am now in the Jiangnan District of Seoul luxury brand street, just now we visited several brand stores here, found that many of the price increase of around 10% of the famous brand bag, now the price is converted, it is about 3000-5000 yuan more than last month. Moreover, many brands have already sold out their products. They need to book in advance, and some products can not even confirm the arrival date.

A salesperson said that after the announcement of the price increase last month, many consumers came to queue up for the price increase. Besides hot sales, many other styles were out of stock.

Some brands said the price increase was due to rising production costs and exchange rate changes. In the first half of this year, the won depreciated to 3.7% against the US dollar. Besides the depreciation of the Korean won, the high price strategy of luxury brands in the Korean market is also the main reason for the rise in prices.

According to the survey, the average selling price of luxury goods in Korea last year was 14% higher than the international average price. Despite the high price of luxury brands in South Korea, sales continued to rise.

In South Korea, 25 to 55 year old women almost have a brand name bag, and the middle and high income women group promotes the expansion of the Korean luxury market. Sales data from a department store in South Korea show that the total sales of luxury brands entering department stores from 1 to September increased by 24% over the same period last year.

It is understood that the South Korean duty-free shops luxury stores are also in the price range, taking into account that many Korean tourists are shopping purposes, luxury goods in Korea will increase the price or weaken the competitiveness of South Korea's tourism, here also reminds Korean tourists to pay attention to the price adjustment of goods, three goods.