While Hermès, Chanel, Louis Vuitton and Dior posted falling operating profit last year, Celine exploded as its affiliation with celebrities resonated with younger consumers.
Luxury brands including Hermès, Prada and Chanel are expected to raise their prices in Korea as demand for premium goods grows. Increases impact shoes, bags, watches and jewelry.
The "Big 3" luxury brands — Hermès, Louis Vuitton and Chanel — made almost 4 trillion won in sales in Korea in 2022, with Louis Vuitton becoming the top-selling brand.
Korea JoongAng Daily Sitemap