"Wait three days and it costs 1 million won more"... Luxury watch prices rising faster than the exchange rate [Luxury Price Watch]

[Financial News] From the start of the new year, luxury watch brands have been rolling out a series of price hikes, and Swiss luxury watch and jewelry brand Piaget is now joining the wave of increases.
According to the luxury industry on the 12th, Piaget, part of Richemont, one of the world’s three major luxury watch groups, will raise the prices of products sold in Korea by up to 5% on the 15th.
Previously, Piaget implemented a 6–10% price increase in June last year.
With this latest adjustment, prices across all watch and jewelry categories will be raised by 3–5%.
The Piaget Polo Date 42mm model, which currently sells for 21.8 million won, is expected to rise to somewhere between 22.45 million and 22.89 million won.
Meanwhile, Swiss luxury watch brand Rolex carried out a price increase for its products in Korea right at the start of the new year.
Rolex’s “Submariner Date Oystersteel and Yellow Gold 41 mm,” which went up in price on the 1st, jumped 7.4% from 27.11 million won to 29.21 million won. The blue-dial and yellow-gold models of the “Rolex Datejust 41” saw price hikes of 7% and 7.4%, respectively.
Tudor, a brand under Rolex, has also raised its prices.
The Tudor Black Bay 58 39mm climbed 9.6%, from 5.91 million won to 6.48 million won.
TAG Heuer, a brand under LVMH Moët Hennessy Louis Vuitton (LVMH), raised its watch prices in Korea by an average of 6% this month, while Hublot increased its product prices by 3–8%.
newssu@fnnews.com Kim Su-yeon Reporter