Luxury goods sell at steep discounts in summer sales

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Luxury goods sell at steep discounts in summer sales

Shoppers check out imported luxury items on summer sale at Lotte Department Store’s Sogong headquarters in central Seoul yesterday. Lotte is selling imported, high-fashion goods for up to 70 percent off the original price until Sunday. Some of the brands being sold are Etro and Moschino. Retailers are holding summer sales because their on-year growth in sales of luxury goods, department stores’ cash cows, declined 6 percent in April. They had double-digit growth since 2009. [YONHAP]

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