According to The Paper, as the COVID-19 epidemic hits the global luxury goods market, first-tier luxury brands have not stopped their price increases. According to incomplete statistics, international first-tier luxury brands including Louis Vuitton, Chanel, and Prada have price adjustments.
Take LV as an example. On May 5, the price of its Chinese counter was raised again. The price of one of the CANNES bucket bags rose from 17,900 to 19,400 yuan, an increase of 1,500 yuan, an increase of about 8%. The price increase is not only for China. The price of this leather bag on the official website of the United States has also increased from $1,890 to $1,980, an increase of about 5%.
A salesperson revealed that Chanel will make a significant price adjustment worldwide on May 14 or 15, with a price increase of between 15% and 19%. Hearing the news of price increases, there were long queues of Chanel stores in Beijing, Shanghai, Hangzhou and other places last weekend.
Beijing time on the 13th, according to foreign media reports, more than 100 shoppers lined up in front of an Chanel store in Seoul on Wednesday, ignoring the risk of a second wave of the new coronavirus outbreak in South Korea due to concerns that the brand will soon raise prices.
Online speculation about Chanel's upcoming price increase prompted these mask-wearing shoppers to queue up in front of the Lotte Department Store in downtown Seoul at 5 a.m. The queue received a numbered ticket before the store opened at 10:30 a.m.
A 54-year-old female customer said she came here around 7:30 in the morning and her future son-in-law was queuing in front of another department store to buy a Chanel handbag for her daughter as a wedding gift. Their wedding has been postponed from the original November to next year due to the epidemic.
Many Koreans donated luxury handbags to their weddings, including a man in line, who said his wedding was also postponed due to the epidemic.
A PR representative of Chanel in Seoul said the company raised prices in the French local market on Monday and will soon raise prices in all markets.
Rakuten department store said that after South Korea relaxed epidemic control measures, luxury goods sales surged 30% from May 1 to May 10 compared with the same period last year, exceeding the overall sales growth. Data from Euromonitor, a research institution in
, shows that South Korea is the eighth largest luxury goods market in the world. The country currently records nearly 11,000 cases of COVID-19 and more than 250 deaths.
Source: Pengpai, Sina.com
