Louis Vuitton will raise prices in South Korea by up to 10%. The changes take effect May 12. This marks the second price adjustment in just over a month. The increases apply to bags, leather goods, and jewelry.
LVMH Chairman Bernard Arnault is making his first visit to the country in three years. Arnault is assessing the South Korean market’s growth and resilience during a global luxury slowdown.
Louis Vuitton Korea reported record sales last year. The brand is the top luxury label in South Korea by revenue. The country remains a key strategic market for the group’s growth.