Handbags showed in a Chanel SA shop home window at the Avenuel outlet store, run by Lotte Shopping Co Ltd., in Seoul, South Korea, on Tuesday,Dec 14, 2021.
SeongJoon Cho|Bloomberg|Getty Images
Whether it’s calf-leather Italian Prada bags or traditional, checkered British Burberry raincoat, South Koreans are the world’s biggest spenders on individual luxury goods per head, Morgan Stanley stated.
The financial investment financial institution approximated South Korean complete costs on individual luxury goods expanded 24% in 2022 to $16.8 billion, or concerning $325 per head. That’s even more than the $55 as well as $280 per head invested by Chinese as well as American nationals, specifically, according to Morgan Stanley price quotes.
Luxury brand names have actually additionally highlighted solid sales in Korea.
Moncler stated its income in South Korea “more than doubled” in the 2nd quarter compared to previously the pandemic. Cartier- proprietor Richemont …
