SEOUL, Feb. 21 (Korea Bizwire) — The news of the recent death of Karl Lagerfeld, Chanel’s iconic creative director, is bringing South Korean celebrities to pay tribute to a man who was one of the most prolific designers of the century. Song Hye-kyo, a South Korean actress, posted a black-and-white photo of Karl Lagerfeld on [...]
BUSAN, Dec. 19 (Korea Bizwire) — Busan police said Wednesday they have arrested a Japanese trader and his South Korean partner on charges of importing and selling hundreds of fake Chanel handbags in South Korea. The unidentified 55-year-old Japanese suspect is accused of importing a large volume of delicately fabricated luxury Italian handbags into South [...]
SEOUL, March 22 (Korea Bizwire) — Luxury fashion brands including Louis Vuitton and Hermès have continued to jack up the prices of their products in South Korea, raising eyebrows among consumers. According to industry sources on Wednesday, some Louis Vuitton items have seen price hikes at duty free shops this month, following earlier price increases late [...]
SEOUL, Nov. 1 (Korea Bizwire) – Luxury fashion brand Chanel is raising prices by up to 30 percent in South Korea, despite criticism. It’s the third time this year alone that the French fashion brand has raised prices in the South Korean market, with the cost of a wide range of products expected to rise, including [...]
SEOUL, March 24 (Korea Bizwire) – A growing trend among South Korean consumers of buying semi-luxury goods is sweeping the consumer market amid the country’s prolonged economic downturn. Despite the sluggish economy, Koreans – especially those in their 20s and 30s – are willing to spend 50,000 won ($45) for an afternoon tea at a five-star [...]
SEOUL, March 2 (Korea Bizwire) – Louis Vuitton, along with Chanel and Hermès, is considered in South Korea as one of the big three high-end designer brands that are typically supposed to appeal to the top one-percent. And while Chanel and Hermès continue to symbolize wealth and affluence, Louis Vuitton has recently been struggling to [...]
SEOUL, Aug. 31 (Korea Bizwire) – Galleria Duty Free 63 may be the newest of the duty free franchises in Korea, but it hasn’t been all smooth sailing since the store’s July launch, especially when it comes to maintaining relationships with cosmetics companies. L’Oréal recently withdrew some 20 employees from six of its brands – [...]
SEOUL, May 4 (Korea Bizwire) – The marriage season is back, and with it is the Korean penchant for lavish wedding gifts. In a fortuitous coincidence, it just so happens that high-end brands like Chanel and Bottega Veneta are adjusting their product prices upward. According to representatives from the retail and fashion industries, Chanel will [...]
SEOUL, April 7 (Korea Bizwire) – Lotte Duty Free, South Korea’s No. 1 duty-free operator, said Thursday it is mulling an acquisition of a foreign luxury goods maker with high brand value in a bid to further bolster its business. The move is seen as the company’s strategy to create synergies by having a premium [...]
SEOUL, March 25 (Korea Bizwire) – HDC Shilla Duty Free, a joint venture between Hotel Shilla and Hyundai Development, officially opened its new duty-free store in central Seoul on Friday, featuring 200 more brands four months after its pre-opening. The new outlet spanning 16,500 square meters is located in the Hyundai I’Park Mall in Yongsan, the railway [...]