If fashion brands are generally happy with the presence of buyers who buy their products, this is not the case with Chanel in South Korea. The French brand is now limiting the number of bags purchased by their customers, to a maximum of one bag per year.
According to Hankook Ilbo, a South Korean daily newspaper, Chanel Korea enforces a policy that each customer can only purchase one Timeless Classic flap bag and one Coco Handle handbag per year. The same rule also applies to items that are categorized as small leather goods, especially wallets and pouches, if customers want more than one model in this category. Michaelkors Outlet
Quoted from the South China Morning Post, Monday (10/18/2021), this step was taken following the increase in reselling of Chanel bags. There is a phenomenon that appears in the country of ginseng related to products from this brand, namely conducting an open run.
Tas Branded Open run is the action of a number of people together and quickly enter a store as soon as the store is opened. They generally queue for hours to enter the store as quickly as possible so that the chances of getting the item they want are higher.
The open run system is very competitive, with resellers starting to line up in front of the store in Myeong-dong using camping chairs. They waited for the shop doors to open and immediately ran to six or seven malls in the district.
Customers who buy like this, not only want the bag for themselves, but will also resell the bag at a higher price elsewhere. The difference in the selling price is around 300 to 400 US dollars, or almost Rp. 4.3 million – Rp. 5.7 million.
The system makes some people tired and finally willing to pay more to get the bag of their dreams.
“I’m so tired of open runs. I don’t have time, they are a pain and a waste of energy,” said one user who posted on Chicment, a forum site on Naver to share information on luxury goods.
Meanwhile, another user wrote that he was willing to pay resellers a price of 250 to 340 US dollars or the equivalent of 3.5 million to 4.8 million rupiah, considering the difficulty of doing an open run just to enter the store.
Reporting from Business Insider, by doing an open run, ‘resellers’ can make 90 to 270 dollars (Rp. 1.2 million to Rp. 3.8 million) per item if they manage to get the bag their client wants. This advantage is quite good as a side job.
Chanel often raises prices in Korea, but customers don’t seem to care. According to market analysts, this pandemic has had an effect on people who like luxury goods because their desire to travel abroad cannot be fulfilled.
Chanel isn’t the only luxury brand to limit purchases per person. For example, Hermès allows each customer to purchase up to two bags of the same design per year. Rolex, a luxury watch brand, limits purchases per person to one or two watches per year.
In 2020, the luxury goods market in South Korea is the seventh largest. Its value is estimated to exceed US$123 billion or almost Rp. 1.7 trillion. The luxury goods resale market is estimated at US$6 billion or almost Rp. 84.6 billion.
Last September, millennials, especially men in their 20s to 30s, became loyal customers to shop for branded goods. They account for about a third of the luxury and retail goods market in South Korea. Sepatu Branded