New Balance to Raise Sneaker Prices... Up to 17% Increase
New Balance announced that it will raise the prices of some sneaker products starting August 15. (Screenshot from New Balance website)
View original image[Asia Economy Reporter Eunmo Koo] E-Land's global sports brand 'New Balance' is raising the prices of its sneakers.
New Balance announced on the 11th that it will increase the prices of some sneakers by an average of 5-17% starting from the 15th.
The price increase applies to models including ▲CM996 ▲ML574 ▲WL574 ▲W480 ▲MT410 ▲MR530 ▲U574 ▲M990 ▲M991 ▲W991. These models will see an average price increase of 10,000 to 20,000 KRW, adjusted upward by about 5-10%. Additionally, the children's sneaker model '878' rose from 59,000 KRW to 69,000 KRW, a 17% increase.
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New Balance stated that the price increase for this lineup is due to rising raw material costs, and there are no plans to raise prices for other sneaker or fashion products.
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