Editor’s Note
Bulgari, part of the LVMH group, will raise prices on select items starting March 1. This follows several price adjustments in recent years, including increases in 2022 and 2023.
Bulgari, the Italian luxury jewelry brand under the LVMH (Louis Vuitton Moët Hennessy) group, is planning to increase its prices next month.
According to the luxury goods industry on the 14th, it has been reported that Bulgari will raise prices for some items effective March 1st.
Previously, Bulgari has implemented several price increases during the COVID-19 pandemic period. Last year, it raised prices in February and July; in 2022, it did so in April and September; and in 2021, it increased prices four times.
Founded in 1884, Bulgari is classified as one of the world’s top three jewelry brands alongside Tiffany and Cartier. It was acquired by LVMH in 2011.
Particularly for Bulgari, as it holds popular collections like B.zero1 among newlywed couples in South Korea, many consumers are paying close attention to the news of the price increase.
Meanwhile, since the start of the new year, a significant number of luxury brands have begun raising their prices.
Boucheron, popular among newlyweds for wedding rings, raised prices for jewelry and other products by 5-6% on the 7th. Chanel increased prices for its jewelry and watch products by 4-5% on the 9th of last month.
Boucheron, under the Kering Group, recently gained attention when Cho Min, the daughter of former Justice Minister Cho Kuk, revealed her engagement ring from the brand.
Breguet and Blancpain, under the Swatch Group, which is counted as one of the world’s top three watch groups, are also planning to raise prices for all their products by 10-15% starting next month.
[Seoul=Newsis]
