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Buyers in South Korea are desperate to get their hands on the French brand’s purses in hopes of preempting future price increases.
Frenzy over high-end goods sees Koreans hoard Chanel bags, not
Focus: Handbags at dawn: Chanel duels South Korean resellers in
Despite high inflation, employment uncertainty, and looming recession, affluent consumers are still buying pricey Chanel handbags, Dior jackets, and Cartier watches.
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lt;p>Shrewd and trendy shoppers are snatching up Chanel bags and purses in hopes of keeping their cash from losing value amidst staggering inflation.</p>
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Chanel has raised its price for the second time this year in Europe. Will other luxury designer fashion brands follow suit? Read our blog now!
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Price hikes seem sadly inevitable. But, in recent years, the pace and frequency at which they have been introduced in the luxury industry are staggering.
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SEOUL--As COVID curbs cut travel and duty-free shopping, South Koreans are driving a luxury goods boom at home that has left Chanel barring nearly a third of would-be shoppers to stop bulk buyers snagging $10,000 bags for resale with markups of 20 percent or more.
Handbags at dawn: Chanel duels South Korean resellers in luxury
South Koreans Hallyu over luxury goods Photo by Aleksandar Pasaric from Pexels The South Korean land mass of 100,210 km2 situated in East Asia is rich in its history, culture, and
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Live news updates from February 14: US inflation slows less than