According to a report by Style Republik, the right ambassadors can elevate a luxury brand’s status, as seen in Dior’s campaign with BTS member Park Jimin. Contrary to the belief that big brands are self-sufficient, the reality is that alignment with customer desires and continuous evolution are key to success.
Dior, ranked second in the world’s luxury brands by Luxe Digital Magazine in 2022, appointed Jimin as its ambassador. This announcement, coinciding with Paris Fashion Week on January 16, catalyzed Dior’s rapid ascent to new market heights, both socially and financially, as reported by Style Republik.
Social media platforms like Twitter and Instagram saw record-breaking engagement for Dior’s announcement posts featuring Jimin. Financially, the impact was equally impressive. Investing.com reported that Dior’s stock price soared to a 31-year high of €789.00 EUR just two days after the announcement, highlighting Jimin‘s influential presence.
STYLE REPUBLIK focused on Jimin in its piece on "the power of the brand ambassador"! 🔥
"Even the biggest luxury brands can [rise] to new heights if they choose the right ambassador"
"In less than a week, Dior was the biggest winner in the market, both socially and financially" pic.twitter.com/6rIC5ID693
— JIMIN DATA | Slow (@PJM_data) November 11, 2023
Jimin boosted Dior’s market appeal
Choosing idols as brand ambassadors, as observed by Style Republik, is a strategic move to attract a younger market. K-pop’s global popularity, especially among Gen Z and Millennials, makes it an ideal way for luxury brands like Dior to connect with them. The loyalty of K-pop fans is the kind of energy luxury brands seek to harness.
This trend is not unique to Dior. Style Republik notes that other luxury brands like Chanel, Gucci, Louis Vuitton, and Prada also embraced K-pop idols as ambassadors. Consequently, they saw significant boosts in their stock values and market appeal. Louis Vuitton’s appointment of all seven BTS members as global ambassadors, for instance, led to a remarkable increase in their stock value.
In today’s market, as Style Republik reports, the right ambassador can enhance a brand’s popularity and credibility. The association with popular figures like Jimin goes beyond mere product endorsement; it creates a deeper connection with the brand. Fans, in their admiration for their idols, extend their support to the brands these idols represent. They end up becoming brand enthusiasts themselves. – K-Pop News Writer
Featured Image: Dior made the right call when it chose Jimin. Source: X/@mhereonlyforbts.