Japanese luxury goods market has seen notable trends recently.

However, the Japanese luxury goods market has seen notable trends recently. The depreciation of the yen has attracted tourists seeking discounted luxury items, leading to increased sales in Japan’s luxury sector.

TOKYO - Tourists are flocking to Japan to scoop up high-end clothes and handbags at a discount thanks to the weak yen currency. Luxury goods companies like Louis Vuitton parent LVMH would rather they stayed home and shopped.

The yen’s sell-off – it hit a 38-year low against the dollar in July before recovering ground – has sparked an unprecedented tourist boom, drawing savvy shoppers from Asia and elsewhere.