luxury watches Defy Digital Trend

  In its latest attempt to outdo each other, are department stores, expand their sights on luxury brand watches with price tags that won hundreds of millions a piece.

Lotte Department Store displayed W60 billion of luxury watches in its main office in downtown Seoul Tuesday, including a "Calibre 2755" manufactured by Vacheron Constantin, for W900 million (U.S. $ 1 = W1, 115) sold. And last month, Hyundai Department Store in Seoul affluent Gangnam district also organized a special promotion with 22 high-end brands with a total value of W50 billion.

The clocks of the two major cost between W70 million and W1 billion a piece of shops made so that they as expensive as imported cars. Spokesman for the stores said they sell about 10 cheaper each.

However, despite the small number of sales, stores step up their promotional activities that the market is growing at a rate of about 30 percent per year, they added.

Until three or four years, only wealthy clients tend to be expensive W5 million or more to spend on a luxury watch. But these days more young fashion-conscious fit in their 20s and 30s and have no qualms overlap between W5 W10 million million prestige watches.

Another reason for the growth of the market is that it sees a growing number of collectors.

Last month, Hyundai Department Store has an "Overseas Chronograph Perpetual Calendar" Limited Edition Clock by Vacheron Constantin sold W82 million. The company for the production of only 80 of them known on the world market.

An entrepreneur in his mid-40s made the purchase. It was as avid watch collector, who bought an IWC clock as a gift for his fiancee and has about 10 very expensive watches, including models from Jaeger-LeCoultre, Piaget, Breguet and described.

"It is expected that the clientele for luxury watches by people in their 40s to the rich in their 30s and 20s, not just the point, but also fashion accessories" Gifts, Lee Jeong-hwan said Hyundai employees.