SEOUL, June 3 (Korea Bizwire) — Luxury fashion house Chanel has raised prices on several of its best-selling handbags and jewelry items in South Korea by up to 10%, marking its third price hike this year and further straining consumers, especially brides-to-be preparing for weddings. Chanel Korea implemented the increases on Monday, raising prices on signature [...]
SEOUL, Sept. 7 (Korea Bizwire) — Luxury fashion brands are expanding their presence in the vibrant Korean art scene through collaborations and sponsorships in an effort to court art collectors who gather in Seoul for international art fairs. European fashion brands have a busy week of art exhibitions and VIP events at various venues across [...]
SEOUL, Sept. 6 (Korea Bizwire) — In recent days, foreign luxury fashion brands have been actively participating in Korean art-related exhibitions and events. The French fashion brand Chanel announced on Tuesday that it will showcase the ‘Now & Next’ video series, which highlights modern Korean artists, in collaboration with the international art fair Frieze, scheduled [...]
SEOUL, Jan. 25 (Korea Bizwire) — The worldwide popularity of K-pop is pushing global luxury brands to reach out to Korean celebrities. Jimin of K-pop super group BTS was recently selected to become Christian Dior’s brand ambassador. Another BTS member J-Hope participated in the Louis Vuitton Men’s Autumn-Winter 2023 Show last Thursday in Paris, France. [...]
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 [...]