The price of the ‘Capucine MM’ from Louis Vuitton, a famous luxury brand in France, also known as ‘Kim Hee-ae bag’, was more than 10 million won.
According to the industry on the 1st, Louis Vuitton raised the price of some products up to 8% today. This is the first increase in eight months after raising prices twice in February and October last year.
The price of ‘Capucine MM’ increased by 7.2% from 9.84 million won to 10.55 million.
Capucines is named after the Rue Capucines in Paris, where founder Louis Vuitton opened the brand’s first store in 1854.
‘Capucine BB’ increased 3.1% from 8.63 million won to 8.9 million won, and ‘Capucine Mini’ increased 8.1% from 8.12 million won to 8.78 million.
The price of the ‘Alma Bag’, known as an ‘introductory bag’ due to its relatively low price, also jumped. ‘Alma PM’ rose from 2.5 million won to 2.66 million won. The ‘Speedy Bandoulie’ size 25 increased by 7.2% to KRW 2.5 million, and the ‘Diane Bag’ increased by 5.7% to KRW 3.55 million.
As a result, ‘Erusha’ (Hermes, Louis Vuitton, Chanel), considered one of the ‘three great luxury goods’, have all raised their prices in Korea.
Chanel previously raised prices in February and May. The representative product, ‘Classic Flap Bag’, rose in price by around 6%, and the standard price of a large product was more than 15.7 million won.
Hermès also raised the prices of its main products by 5-10% in January.
As the vindictive consumer sentiment continues due to Corona 19, the price increase cycle of luxury brands is getting shorter and shorter. Previously, Rolex, Hermes, Dior, and Prada raised the prices of major products by 10 to 20 percent.
Meanwhile, Louis Vuitton Korea posted the highest sales among ‘Erusha’ last year.
Louis Vuitton Korea’s sales last year recorded KRW 1,692.3 billion, up 15% from the same period last year. Operating profit increased by 38% to 417.7 billion won, and net profit also increased by 69% to 338 billion won during the same period.
Reporter Lee Jung-soo