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Luxury Brands Increase Prices in Korea

Creatrip Team

a year ago

Piaget, the Swiss luxury watch and jewelry brand, plans to increase prices on its products by up to 10% starting next month in Korea. This follows similar price adjustments by other luxury brands like Van Cleef & Arpels and Cartier. The increase is attributed to rising costs of raw materials and logistics. Piaget is part of the Richemont group, a global leader in luxury goods. Other luxury brands such as Chaumet and Chanel are also set to increase prices on certain products this month. Price adjustments in luxury goods are common as these products usually emphasize scarcity and asset value.

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