Luxury Brands Raise Prices in Korea Starting New Year
Creatrip Team
3 months ago
Swiss luxury watchmaker Rolex raised prices in Korea effective January 1: the Submariner Oyster 41mm rose from 14.7 million won to 15.54 million won (5.7%), and the Submariner Date Oystersteel & yellow gold 41mm increased to 29.21 million won (7.4%). Tudor (a Rolex subsidiary) also raised the Black Bay 58 39mm to 6.48 million won (9.6%). Other groups plan similar hikes: Richemont’s IWC (about 5–8%), LVMH’s TAG Heuer (around 6% from Jan 6), and Belgian maker Delvaux (3% from Jan 19) announced increases. Major luxury houses including Hermès, Louis Vuitton, Chanel, Dior, and Prada are expected to follow; Hermès has already notified some customers of upcoming price adjustments. (won: South Korean currency)
