LUXURY FASHION DEMAND INCREASES IN SOUTH KOREA, DESPITE RECESSION
October 1st, 2009
BY KARRYN MILLER
TAKE a stroll through any of South Korea's Lotte department stores on the weekend and you could be mistaken that the recession has ended. It is here you'll see droves of affluent consumers inspecting the latest in luxury fashion before snapping it off the shelves.
At a time when spending on higher priced clothing items could be expected to dwindle, South Korea has seen growth in this segment.
According to Euromonitor's latest report on clothing in South Korea, "high-end luxury brands enjoyed healthy sales growth with even more expensive ...
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