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Luxury Beauty Brands Ready Price Hikes |
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| Release time:2013-03-27 Source:admin Reads: | |
| The arrival of 2013 heralds a round of price hikes for global luxury beauty brands in China such as Chanel and SK-II, and an SK-II Beijing counter salesperson surnamed Wu said on Thursday that the company's price increase is scheduled for Friday. Starting Friday, some 80 percent of SK-II products will be priced 30 percent higher in all Chinese shops, said Wu. Other global luxury brands may see similar price hikes. Cartier, Swarovski, Louis Vuitton are no exception to price raising. Besides, some high-end jewelry especially set with delicate designed jewelry cards whose price undoubtedly goes up due to increasing cost for card design and producing. A Chanel staff member in China told the journalist on condition of anonymity that big brands like Chanel tend to raise their prices at the beginning of every year. "The company is scheduled to raise prices in China by 10 percent on January 15, which is higher than the price hikes in other countries due to high Chinese tariffs on luxury products," she said, noting that prices will go up worldwide. The high tariff on imported luxury goods result in an increasing number of Chinese going abroad to purchase those high-end brands, such as high-quality jewelry set with unique jewelry cards. A salesperson surnamed Wang from a Beijing Dior counter told the Global Times Thursday that nationwide price increases of 10 to 20 percent are coming sometime in February. But even if the price hikes, Chinese consumers are still obsessed with luxury brands including bags, watches, perfume and jewelry with jewelry cards. The rise of individual tourism spurs Chinese to buy luxury goods overseas. According to a report about China's luxury market released by the US consulting firm Bain & Company on December 12, Chinese consumers bought 25 percent of the luxury goods sold worldwide in 2012. |
