“They said the ring went over 10 million won”… Lined up again at a luxury store

This year, luxury brands are also seeing a series of price increases to welcome the new year. There are places where the average has increased by 20%. In the case of brands that are expected to increase in price, the waiting time of more than two hours repeats as consumers who want to buy in advance collect. The saying “Luxury products are the cheapest today” continues this year as well, and customers are catching on.

According to the luxury goods industry on the 6th, on the 7th, the French luxury jewelry brand ‘Boucheron’, known for wedding rings, will raise the price by an average of 7-8%. Some rings have been known to rise by more than 10%. In the case of the quattro ring, which is the most preferred by potential newlyweds, the classic (diamond, 18K, 9.37 million won) is expected to be more than 10 million won.

Bulgari, one of the preferred brands for wedding rings, also raised the prices of large products by 4-7% this month, five months after the price increase in September last year. The representative product, ‘B.zero1 ring (3 band)’, rose in price from 3.7 million won to 3.84 million.

Luxury goods price rises are usually concentrated in January. On the 1st of last month, Rolex raised the price of some products by an average of 2-6%, and Jaeger-LeCoultre also raised the price by an average of 20%. Hermes raised the price by up to 10% on the 4th of last month, and Chopard also raised the price by an average of 8% on the 16th. In the case of Louis Vuitton, it is known that a price increase in Korea is imminent as prices have recently risen in Japan and France. In addition, Fendi is also expected to increase its price this month.

As the price of luxury brands with a high preference for gifts is expected to rise one after another, there are urgent steps to find luxury goods halls. In Internet communities, a series of reviews say that they rushed to buy before the price increase. Customers who recently bought Boucheron necklaces at the Hyundai Department Store in Pangyo said there were 30 people waiting at 2:00 PM, and it took 2 hours and 30 minutes.

Concerns are high that consumption stagnation could begin in earnest due to inflation and interest rate increases, but the atmosphere is only different for luxury goods halls. In fact, since the Lunar New Year, the performance of large luxury goods stores has increased remarkably. According to Shinsegae Department Store, the growth rate of the luxury goods genre from the 23rd to the 31st of last month was 27.4% compared to the same period last year. It was also found that the growth rate of luxury goods at the Galleria Department Store from the 24th to the 30th of last month was also 3% compared to last year.

An official from the Galleria Department Store explained, “Last year, sales of luxury goods increased so much that there is no immediate growth rate.”

[저작권자 @머니투데이, 무단전재 및 재배포 금지]