Chanel and Hermes are going up again...Prices 'Raised in line' from New Year

YTN

Major luxury brands have been raising product prices one after another since the beginning of the year.

As the won/dollar exchange rate has risen sharply since the emergency martial law crisis, some brands are predicting that the price increase may be greater than in the past.

According to the distribution industry, French luxury brand Hermes will raise prices of major products such as bags, clothing, and jewelry by an average of more than 10% on the 3rd.

French luxury goods maker Louis Vuitton, Chanel, Gucci, and Prada are also expected to raise prices of major items at the beginning of the year. Tiffany, the same jewelry brand, is also expected to raise prices in the middle of this month.

Swiss luxury watch brands also raise their prices all at once. Rolex raised 5% to 6% for some products on the 1st, while Brightling plans to increase it by 8% on average at the end of this month.

Reporter Lee Yu Na from Digital News Team.