SEOUL, Nov. 4 (Korea Bizwire) — With the year-end season in sight, luxury brands are going ahead with price hikes again on the back of stable demand. Chanel Korea announced on Thursday that it will raise the prices of all of its goods sold at its stores by 3 to 11 percent. This will mark [...]
SEOUL, Sept. 29 (Korea Bizwire) — A large number of female K-pop stars have been invited to the ongoing Paris Fashion Week, proving the global popularity of the South Korean pop culture. The Paris Fashion Week, a series of designer presentations held semiannually in Paris, is one of the most-known Fashion Weeks around the world. [...]
SEOUL, Sept. 21 (Korea Bizwire) — South Korea’s major department store chains are actively adding more luxury brand shops specializing in men’s wear, women’s wear and shoes amid higher demand for luxury goods. Galleria Department Store, for instance, recently opened a Dior shoe shop at its Luxury Hall in southern Seoul, while Shinsegae Department Store [...]
SEOUL, May 3 (Korea Bizwire) — Luxury brands are exploring various ways to prevent the deterioration of their brand value caused by resellers. The Rolex store within the main branch of Lotte Department Store introduced a 10-day waiting system last month, according to industry sources. Under this system, customers with phone number ending 6, for [...]
SEOUL, April 22 (Korea Bizwire) — Overseas fashion and luxury brands including Louis Vuitton, Chanel, Hermes and others reported record earnings last year despite a series of price increases. Chanel Korea earned racked up 1.22 trillion won (US$987 million) in sales last year, up 31.6 percent from the previous year. The company earned 249 billion [...]
SEOUL, Jan. 24 (Korea Bizwire) — South Korean consumers are up in arms over luxury brands that are pushing up prices seemingly arbitrarily in recent days as a way to stimulate buying sentiment. French fashion company Chanel suddenly raised the price of some handbag items by up to 17 percent on Jan. 14. This price [...]
SEOUL, Dec. 31 (Korea Bizwire) — Retail investors who bought shares of foreign luxury brands such as Hermes, Louis Vuitton and Gucci enjoyed higher returns this year. According to data from the Korea Securities Depository, the most net-bought stock by domestic individual investors among those listed on the French stock market was Hermes International SCA. [...]
SEOUL, Oct. 8 (Korea Bizwire) — Luxury fashion brands are joining hands with bicycle manufacturers to release high-end, luxurious bicycles. Louis Vuitton, in collaboration with French bicycle maker Maison Tamboite Paris, released the LV bicycle in four colors, available in South Korea since August. The frames, saddles, and chains are inscribed with Louis Vuitton monograms. [...]
SEOUL, July 20 (Korea Bizwire) — Luxury brands are scrambling to attract men in their 20s and 30s, who are rising as a major consumption power. Louis Vuitton is opening South Korea’s eighth ‘Mens’ store at Lotte Department Store in August. The fashion brand also set up a pop-up store for men in Seongsu-dong, eastern [...]
SEOUL, April 8 (Korea Bizwire) — Expensive luxury brands are racking up strong sales despite the coronavirus outbreak. Consumers, denied oversea travel, have resorted to spending on luxury goods instead, gaining popularity among the MZ Generation (millennials and Generation Z) in particular. The Financial Supervisory Service reported that Christian Dior Couture Korea Co., the South [...]