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. 13 (Korea Bizwire) — Luxury brand Louis Vuitton has fallen behind its rivals in the South Korean market, with sales dipping into minus territory this year, industry data showed Monday. Sales at a leading department store for the international fashion house for the January-October period backtracked 5.3 percent. Demand for Louis Vuitton products [...]
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 [...]
INCHEON, Aug. 1 (Korea Bizwire) – Since 2015, KT&G (Korea Tobacco & Ginseng Corporation) has been able to maintain a winning streak in duty free store sales at Incheon International Airport. According to airport data, KT&G product sales at Korea’s leading airport came to 103.1 billion won ($92.7 million) and 71.8 billion won, respectively, in [...]
SEOUL, July 25 (Korea Bizwire) – CLIO, a Korean cosmetics maker, revealed Monday that it had successfully secured a $50 million investment from L Capital Asia, a private equity fund formed in 2009 by LVMH (Moet Hennessy Louis Vuitton). This marks the fund’s second venture with a Korean enterprise following its investment in YG Entertainment [...]
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 [...]
SEJONG, Aug. 14 (Korea Bizwire) – Among the fake designer products that were exposed by the Korea Customs Service during the first half of 2015, Cartier ranked No. 1 in terms of the number of fake items. As the trend in the knock-off market moved to watches from bags, Louis Vuitton was pushed out of the top [...]
SEOUL, April 7 (Korea Bizwire) — Louis Vuitton will hold a free exhibition entitled ‘Past, Present, Future,’ at D Tower in Gwanghwamun from May 1 to 17. The exhibition will feature works by Nicolas Ghesquière, who is the creative director of women’s clothing for Louis Vuitton. The works are divided according to 9 grand themes that inspired [...]
SEOUL, July 6 (Korea Bizwire) – Amid the protracted recession in which consumers are reluctant to open up their wallets, high-end import brands posted mixed results for the fiscal year 2013. According to the Data Analysis, Retrieval and Transfer System by the Financial Supervisory Service on July 4, Burberry Korea’s sales revenue was 239.3 billion won [...]