SEOUL, Feb. 13 (Korea Bizwire) – Top luxury brands popular with adults are also grabbing the market for children, their sales increasing as kids get ready to go back to school this month or next, industry officials said Monday.
Some of the most popular items cost well over 1 million won (US$867). A Gucci-labeled backpack for children is tagged at 1.12 million won, and a lunch box at 975,000 won.
“Customers looking for back-to-school supplies like backpacks are increasing in number by the year,” brand manager of Gucci Kids at Lotte Department Store said. “Bags are valued for their scarcity, so they are sold out at every new school season.” Burberry’s 720,000-won duffel coat is the most-sought-after children’s item this season, about 40 percent of the customers buying it, according to Lotte.
“Black Line” children’s clothing from Armani, including a dress priced at 728,000 won and a T-shirt costing 188,000 won that are up to 40 percent more expensive than their average price, are the first to become sold out, department store officials said.
A winter coat from Italy’s Moncler costs over 2 million won, but its sales have been jumping by double digits every year, they said.
“Sales of premium children’s products are rising steeply with the ‘gold kids’ who are being raised like princes and princesses despite the continuing economic slump,” Kim Hye-rim, chief buyer for the children’s section at Lotte, said. “The market for luxury children’s clothing will bloom as people spend more on a single child.”
A Japanese-made Randosel backpack, the popularity of which turned controversial in 2015 because of its high price, remains in high demand. It’s premium model sells in the 700,000-won rage at Shinsegae Department Store, while a leather version goes for 450,000 won at Hyundai Department Store.
At online shopping malls, relatively expensive children’s gifts costing over 100,000 won have been marking up sales.
GMarket officials said its height-adjustable children’s desks and premium desk chairs were in high demand. The desks cost up to 500,000 won each, and the chair well over 100,000 won.
Another online mall, 11st Street, said its recent sales of children’s bags increased 40 percent. Sales of bags costing over 80,000 won increased 70 percent, it said.