SEOUL, June 28 (Korea Bizwire) — A post recently appeared on an online secondhand marketplace where products from the U.S. burger franchise Five Guys were being resold at higher prices. Five Guys on Monday opened its first South Korean restaurant in Seoul’s Gangnam neighborhood. Despite the rainy weather, around 400 people braved the long line, [...]
SEOUL, Dec. 30 (Korea Bizwire) — With shrinking consumer sentiment and an economy in decline, prices of luxury goods and limited editions of running shoes are plunging. StockX Korea, a local unit of the U.S.-based resale company, said that Nike’s Dunk Low Panda are currently available for 186,000 won (US$147), which is 53 percent cheaper [...]
SEOUL, Sept. 20 (Korea Bizwire) – Nike Korea added new terms and conditions to prevent its footwear from being purchased simply for the purpose of reselling and decided to strengthen restrictions on individuals who disrupt the reselling market. In its newly disclosed terms and conditions, the South Korean unit of Nike, Inc. added a new [...]
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 [...]