Luxury Brands in Korea (명품)
Buying and showing off luxury brand items is important in South Korea. Similar to a number of Asian countries, in Korea one’s image is an important showcase for one’s social status, both in an actual and aspirational sense. It is thus important to always look one’s best regardless of one’s income. Luxury brands are called myeongpoom(명품) and Louis Vuitton, Hermes, Gucci, Vivian Westwood, etc., aswell as their imitations, are very popular here.
A woman living at home may devote her entire month’s salary to a new bag. A lot of women go into debt paying for myeongpoom. Even men have started buying expensive luxury items to improve their style.
The craziest thing about all of this is that because the Korean market has the highest demand, the luxury brands sell at higher prices than in branch stores around the world.
This is one cause of the duty-free shopping craze. You will notice a lot of Koreans do their vacation shopping before they even begin their travels at the Incheon duty-free stores. People go there to buy luxury and brand name items at cheaper prices. They will often carry lists from friends, colleagues and family members of things to pick up and, in addition, will buy their own gifts before even stepping on an airplane.
Due to the fact that luxury goods are so expensive here, travelers try to buy these items every time they travel. The latest trend is that when a new couple gets married, the man will buy an expensive luxury bag on the honeymoon. Places like Guam are full of luxury brand shops for honeymooners to buy that expensive marriage gift.
What do you think about Korean Luxury Brands? Let us know in the comments. Please like and share, too!