Saturday, May 31, 2008

Good Fakes

Koreans love Chanel. Both real and fake. These days, it's hard to tell the difference. Fake goods from Seoul are so good that would make one question why get the real thing. Take this bracelet for example, would you have thought this is a fake, and cost S$50? Perhaps so but it matters not to many young ladies in Singapore. A store called "The Dresser", owned and run by a mother-and-daughter team (hailed from Korea) knows this well. New arrivals from Seoul are met with undying enthusiasm every week. There is a certain consistent following that is almost like a cult. It has a repeat crowd and the number is growing. Business is brisk, and profit margin should be great. I suspect they profit a dollar for a dollar for every piece of garment sold. Barely half a year, this hip mother-and-daughter team, now owns two other stores in the same mall, all carrying Seoul made clothes and accessories. With each store being slightly different in concept, they maximize their daily takings through clever product differentiation. Not bad at all.

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