Daily Digest

Luxury Brands Battle To Stay In Fashion In South Korea

Tory Burch Boutique in Seoul, Korea | Source: Tory Burch

“The €8.3bn South Korean luxury market, Asia’s third largest behind China and Japan, has become a tougher place for global fashion houses to compete as young consumers turn to more accessible ‘contemporary brands’ amid waning popularity of expensive premium brands such as Gucci, Louis Vuitton, Ferragamo and Burberry, and with domestic consumption mired in a prolonged slump.”