Song Hye Kyo’s bag is getting more expensive again.. Fendi raises product price by 6%

Luxury brands are collectively adjusting domestic sales prices to alleviate the burden of foreign exchange losses

According to media outlet E-Daily on October 18th, it was confirmed that Fendi raised the price of all products by about 6% the day before. This is Fendi’s first price increase in eight months since February.

song hye kyo
Song Hye Kyo holding a representative bag of Fendi

Fendi’s representative product, the Peekaboo Mini Selleria Bag, which became popular after being worn by Song Hye Kyo, experienced a price hike of 6%, from 5.7 million won to 6.04 million won. The Peekaboo ICU Small product also jumped from 6 million won to 6.36 million won. On the other hand, Song Hye Kyo is working as Fendi’s Asia ambassador.

The baguette bag, which celebrated its 25th anniversary this year, also saw a price increase of 5.9% from 3.9 million won to 4.13 million won. The price of the Mon Tresor bucket bag also rose by 6.1%, from 2.45 million won to 2.6 million won.

This price increase is reflective of the strong dollar. Luxury goods imported and sold in Korea are highly affected by the exchange rate, so this is to alleviate the burden of losses due to foreign exchange losses.

song hye kyo
Song Hye Kyo is holding a Fendi bag in her hand 

Since its establishment in 1925, Fendi has been a luxury brand that uses the highest quality fur, leather, and accessories. After being acquired by the Louis Vuitton Moet Hennessy (LVMH) group in 2001, it has established itself as an LVMH signage brand along with Louis Vuitton and Christian Dior.

Unlike other luxury brands, Fendi is known to be directly involved in brand management from generation to generation. Fendi’s iconic Peekaboo bag and baguette bag are famous for being designed by Sylvia Venturini, the third-generation founder of Fendi.

According to the Financial Supervisory Service’s electronic disclosure system, Fendi Korea’s sales last year were 123.4 billion won, up 57.4% from the previous year (78.7 billion won).

Source: Wikitree

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