Editor’s Note
This article reports on Mido’s upcoming price increase, reflecting a broader trend of price adjustments in the watch and luxury sector.
![[서울=뉴시스] 주동일 기자 = 10일 종로구에서 열린 스위스 시계 브랜드 미도(MIDO)의 미니 바젤 행사. 2023.05.10 *재판매 및 DB 금지](https://img1.newsis.com/2023/05/10/NISI20230510_0001262792_web.jpg?rnd=20230510193037)
[Seoul=Newsis] Lee Hyun-joo, Reporter = As the luxury industry embarks on comprehensive price increases from the new year, the extent of price hikes for watch products is becoming prominent.
With the spring wedding season approaching and consumers preparing for betrothal gifts, prices are rising across the board, from high-end luxury items to mid- and low-priced watch lineups.
According to the industry on the 23rd, Mido, a watch brand under the Swatch Group, will increase the prices of all items sold in South Korea by an average of 6% on the 12th of next month.
Swatch Group Korea is a global watch brand group that owns luxury watch brands including Omega, as well as Hamilton and Tissot.
Following the price increase for Omega products on the 1st of this month, Mido is also set for a comprehensive price hike next month.
Longines, a luxury watch brand under the Swatch Group, also plans to increase the prices of products sold in South Korea by about 4-5% starting in June.
Regarding these price increases, the luxury industry analysis suggests that as the spring wedding season approaches, the price hike is particularly noticeable in the jewelry and watch categories, which are frequently sought by consumers as betrothal gifts.
![[서울=뉴시스] 김혜진 기자 = 럭셔리 시계 브랜드 오메가(OMEGA)가 오는 4월부터 국내에서 판매하는 전 제품을 대상으로 평균 3% 가량 가격을 인상한다. 오메가의 대표 품목인 시계 뿐만 아니라 액세서리 제품까지 인상될 예정이다. 사진은 16일 서울 시내 한 오메가 매장 앞으로 시민들이 지나가고 있다. 2025.02.25. jini@newsis.com](https://img1.newsis.com/2025/02/25/NISI20250225_0020712813_web.jpg?rnd=20250225122740)
Previously, Omega increased the prices of all products sold in South Korea by an average of 3% starting on the 1st of this month.
Additionally, the Italian luxury jewelry brand ‘Bulgari’, operated by the LVMH (Louis Vuitton Moët Hennessy) group, raised the prices of its watch items by about 8% on the 14th.
Last year, price increases occurred across the board in South Korea, from luxury bags to miscellaneous goods, jewelry, and watches, leading major overseas luxury brands to achieve record-breaking performance.
This year, the saying “luxury goods are cheapest today” persists, and demand is also growing for purchasing second-hand luxury goods in mint condition (comparable to new) at reasonable prices. This is the so-called ‘Mint condition’ category.
An industry official stated:
