Luxury buyers are getting younger, not only in Korea but globally.
High-end brands are becoming more so, once again, starting with a price increase at Hermes.
According to Statistics Korea on Tuesday, online purchases in November totaled 17.5 trillion won, which is a 16.5 percent year-on-year increase and a high for data that have been compiled since 2001.
Shinsegae Inc. reported 188.87 billion won ($160 million) in net profit on record third quarter sales, according to a preliminary earnings report Tuesday.
Luxury shopping is moving online, with start-ups leading the way.
Boucheron Korea said on Thursday that the personal data of customers that was reportedly leaked never existed in the first place.
A Chanel store is shown in Seoul on Sunday. The French luxury brand said Sunday that it has been limiting customers from buying more than one of some of its products per year.
Customers line up outside a Louis Vitton store at a department store in Seoul on Monday. Sales of luxury goods, from bags to watches and jewelry, have surged in the last year.
Switched-on entrepreneurs and pennywise fashionistas have found a hack to the ever accelerating product cycles being foist upon the market by the Guccis of the world.
Some Koreans are buying luxury company stocks so they can make enough money to buy luxury goods.