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Christie’s International Real Estate Enters Singapore as Luxury Brand Continues Expansion in Southeast Asia

Christie’s International Real Estate Singapore looks to capitalize on Singapore’s luxury real estate market SINGAPORE and CHICAGO, Aug. 21, 2024 (Korea Bizwire) – Christie’s International Real Estate, a global leader in luxury real estate, has officially launched in Singapore, marking a significant milestone in its Southeast Asia expansion strategy. Operating from a newly refurbished historic shophouse [...]

Gucci’s Noisy After-Party Sparks Controversy and Disrupts Local Residents’ Sleep

SEOUL, May 18 (Korea Bizwire) — The after-party event organized by Gucci after a fashion show in central Seoul has sparked a major controversy following reports of excessive late-night noise and disturbance to neighboring residents’ sleep. On May 16, Gucci, a renowned luxury brand, hosted its ’2024 Cruise Fashion Show’ at Gyeongbokgung Palace in Jongno-gu, [...]

Luxury Brands Withdraw from Downtown Duty-free Shops in S. Korea

SEOUL, Feb. 10 (Korea Bizwire) — A group of luxury brands that have benefited from post-pandemic ‘revenge spending’ are withdrawing from downtown duty-free shops in South Korea, dealing a blow to related industries. Chanel, for example, decided to suspend the operation of its stores within the Lotte Duty Free branch in Busan and the Shilla [...]

Hyundai’s Genesis Overtakes Mercedes-Benz as Top-selling Luxury Brand in S. Korea

SEOUL, Aug. 17 (Korea Bizwire) — Hyundai Motor Co.’s premium Genesis overtook Daimler’s Mercedes-Benz as the top-selling luxury brand in the first seven months of this year in South Korea, industry data showed Monday. If the trend continues, Genesis will regain its top spot in local luxury vehicle sales for the first time in four [...]

French Luxury Brand Dior Raises Prices of Major Bags amid Pandemic

SEOUL, July 2 (Korea Bizwire) — The French luxury brand Christian Dior began to raise prices of its major bags Thursday, industry sources said, as people’s demand for luxury goods has not been subdued even amid the pandemic-caused economic slump. Dior will increase the price tags of its major products, including Dior Lady bags, by [...]

Louis Vuitton Losing Past Luster in S. Korean Market

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 [...]

Burberry Korea’s Price Markdown Seen as Too Small, Too Late

SEOUL, Jan. 11 (Korea Bizwire) – The local office of Britain’s luxury brand Burberry recently marked down the price of some of its products to reflect the fallen value of the British pound, but only by a small margin compared with the currency’s depreciation, fashion industry officials said Wednesday. Burberry Korea dropped the local price [...]

Luxury Brand Hermès Soars Despite Economic Slump

SEOUL, May 24 (Korea Bizwire) – Hermès, a French high fashion brand, has proven to be an exception to the downturn in South Korea’s luxury market, industry officials said on Tuesday. Compared to other luxury brands that had one to three percent sales increases over the past three or four years, Hermès showed growth of 20 [...]