Overseas luxury brands continue to raise prices, and the price-hike trend is expected to continue next year

There have been a series of cases in the Korean market that have resulted in price increases of more than three times this year alone.

Luxury jewelry brand Vancliffe Appel raised the price of products sold in Korea by about 3 per cent on the 27th of last month. The brand also raised its prices in January and April this year, marking the third increase luxury brand Prada also raised its price for the third time this year on the 27th of last month. 

Luxury jewelry and watch brands Bulgari and Tiffany & Co also held their third price hike this year last month. Bulgari raised the price of Serpenti and Divas Dream Line by around 3%. Tiffany adjusted the price of its key products by an average of 3% last month. 

Tiffany previously raised prices in February and June of this year as well.his year. The flagship product, “Vintage Alhambra Pendant 18K White Gold and Diamond,” rose 3.6 per cent from 13.9 million won to 14.4 million won.