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An all-time low Japanese Yen, delights luxury brands

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:

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!

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