Original title: attention of Korean tourists and purchasing agents! Since this month, luxury brands have collectively raised prices in South Korea, including LV, chanel and Dior & hellip& hellip;
Since the 1st of this month, luxury brands around the world, such as luggage, watches and jewelry, have raised the price of their products in the Korean market. Many of them have not raised the price in Korea for the first time this year. Why do luxury brands collectively raise prices in South Korea? Let's see the report sent back by the reporter.
From November 1, Louis Vuitton, a French luxury brand, raised the prices of its popular luggage products by 4% to 7% in South Korea. This is another price increase after Louis Vuitton raised the prices of some products by an average of 3% in April this year. The price of this brand has increased three times last year.
Chanel also raised the price of several popular handbags this month, by 3% to 13%. It is understood that this is the fourth price increase of Chanel this year. In March this year, Chanel raised the prices of 462 kinds of goods in South Korea, such as jewelry and watches. In addition, Cartier, Dior, Bulgari and other international luxury brands also plan to raise their selling prices in South Korea this month.
Liu Zheng, special reporter of financial channel: I am now in the luxury brand street in Jiangnan District, Seoul. Just now we visited several brand stores here and found that many famous brand bags with a price increase of about 10% are about 3000-5000 yuan more expensive than last month. Moreover, many brands of best-selling products have been sold out and need to be booked in advance. Some products can not even determine the arrival date. A salesperson told us that after the price increase information was announced last month, many consumers rushed to the price increase to queue up to buy. In addition to the hot sales, many other styles 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 Korean won depreciated by 3.7% against the US dollar. In addition to the depreciation of the won, the high price strategy of luxury brands in the Korean market is also the main reason for the price rise. The survey shows that the average price of luxury goods in South Korea last year was 14% higher than the international average price. Although luxury brand prices remain high in South Korea, sales continue to rise. In South Korea, women aged 25 to 55 almost have a famous brand bag. The middle and high-income women have promoted the continuous expansion of South Korea's luxury market. According to the sales data of a department store in South Korea, the total sales of luxury brands settled in the Department Store from January to September this year increased by 24% over the same period last year.
Liu Zheng, special reporter of Finance and economics channel: we have learned that the major luxury stores of duty-free stores in South Korea are also within the scope of this price increase. Considering that many tourists to South Korea are tourists for shopping, the price increase of luxury goods in South Korea may weaken the tourism competitiveness of South Korea. Here, we also remind tourists to South Korea to pay attention to the adjustment range of commodity prices and shop around.