2023-04-17 11:15:34
Three boutique brands, Hermès, Louis Vuitton and Chanel, generated nearly 4 trillion won (regarding HK$23.5 billion) in sales in South Korea last year.
In addition, South Korea ranks first in the world in terms of per capita spending on luxury products, reaching an average of US$325 per person, which is equivalent to regarding HK$2,551 per person per year on luxury goods.
According to the accounting audit report of the Korean branches of the three major brands on April 16, the combined sales of the three major boutiques in South Korea last year reached 3.9338 trillion won, a surge of 22% over the previous year.
【Related photos】Dark Glory Villain “Hermès Wall of Handbags” reveals the secrets of “Haute Couture” luxury house clothing(click to enlarge and read):
The most popular brand for Koreans is LV. Among the three boutique brands, Louis Vuitton Korea has the highest sales. Last year, revenue increased by 15% to 1.69 trillion won (approximately HK$10.1 billion), and operating profit expanded by 38% to 41.77 trillion won (approximately HK$250 billion).
Chanel Korea’s revenue increased by 30% to 1.59 trillion won (approximately HK$9.5 billion), and Hermes Korea’s revenue also increased by 23% to 650.2 billion won (approximately HK$3.89 billion). vs. 23%.
The rapid growth of the three boutique brands in South Korea is due to an increase in “retaliatory spending” as people are unable to travel abroad during the COVID-19 pandemic. Even in the face of high inflation in 2022 and rising interest rates, the three players still ushered in strong sales and raised prices as many as four times.
【Related photos】A woman sent 70,000 Hermès handbags was suddenly told by SF Express that it was “burned in the middle” and there was no evidence of a car accident, causing controversy(click to enlarge and read):
According to Euromonitor, a market research organization, the South Korean boutique market will reach US$14.65 billion in 2021, ranking seventh in the world; however, in terms of per capita consumption, South Korea ranks first in the world in per capita boutique consumption .
According to Morgan Stanley, per capita boutique spending in South Korea was $325 last year, ahead of the U.S. at $280 and mainland China at $55.
Further reading:
Droughts will occur irregularly due to warming damage to ecosystems
[Thisarticlewasawarded“United News Network”Reprinted with permission. 】
1681746689
#country #loves #buy #famous #brands #China
