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An all-time low Japanese Yen, delights luxury brands

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Japan has emerged as a premier destination for luxury tourism, driven by a weakened yen, making it highly attractive in the Asia-Pacific region, particularly for Chinese visitors. According to Luxurynsight, 'tax-free prices in Japan compared to those in China dropped from -18% in June 2023 to -24% a year later, with prices for some brands plummeting by -27%. Japan is now even more attractive than France in terms of pricing.'

However, this surge in tourism brings potential challenges. Bain & Company highlights the risk of overcrowded stores and the possibility of neglecting the local clientele, especially in the ready-to-wear sector, where local Very Important Clients (VICs) might feel underserved. Adjusting prices to address regional differentials and closely monitoring global market dynamics are crucial for sustaining long-term growth and ensuring the satisfaction of both local and international clients. At Luxurynsight, we make it possible: https://www.luxurynsight.com/

Dive deeper into the growth of the Japanese luxury market and current competitive strategies in this insightful article by Dominique Muret from Fashion Network! Thank you, Dominique, for the mention! https://bit.ly/3zzLERv

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