Italian luxury brand Gucci has unexpectedly hiked prices on select products in South Korea.
As reported by the luxury industry on Sept 24., Gucci raised the prices of certain product lines in the country by an average of approximately 11% on the same day.
Notably, the “Gucci Jackie small shoulder bag” saw an 11.6% increase, rising from 4.3 million won ($3,230) to 4.8 million won ($3,606). This follows four price increases by the brand last year and a similar 8% rise on some handbags in June.
