Louis Vuitton Hikes Rates Again
24 March, 2021
French luxury brand Louis Vuitton has marked up rates of some products by five to eight percent in what's already the fourth selling price hike in Korea this year.
With every selling price hike, grateful customers grow actually keener to throw their cash at the brand.
Louis Vuitton raised the costs of the Capucines BB handbags, which became popular here after actress Kim Hee-ae carried a single in a hit TV series this past year, by up to 6 percent to W5.40-6.66 million (US$1=W1,131).
The costs of the Twist hand bags went up by five to eight percent to W4.17-4.82 million.
The business already hiked prices 3 x in January and February. The "must-have" Pochette Accessoires carrier went up an impressive 25.6 percent from W780,000 to W980,000, and the Alma BB handbag, which includes been a reliable seller, went up by four to ten percent.
"Regardless of the price hikes, high end brand shops are crowded with buyers as many people go on a looking spree after reducing their spending amid the coronavirus lockdown," stated a department store staffer.
Consumer teams sometimes bristle in what they see seeing that unjustified cost hikes explained by neither the exchange charge nor any improvements found in quality, but Korean buyers lap them up and luxury labels certainly are a seller's industry. Price hikes in other countries have a tendency to be less drastic.
Source:
TAG(s):