2024-03-22 11:38:04
Subscribe to the WEEKLY BIZ newsletter ☞
‘Human Dior’ ‘Dior’s Treasure’ ‘Aphrodite Goddess’.
Jisoo, a member of the girl group Blackpink and a global ambassador for Dior, attended the 2022 S/S (Spring/Summer) show wearing Dior clothing / Provided by Dior
Fans around the world commented on an Instagram post in which Jisoo, a member of the girl group Blackpink, wore a Dior dress and smiled while squinting, sending out 237,000 hearts. Dior’s brand value soars thanks to his gestures, which have become fans’ Aphrodite and treasure.
In fact, Pietro Beccari, CEO of Dior at the time, spoke at the Dior 2022 S/S collection fashion show held in Paris, France. “If YG (Jisoo’s agency) fires Jisoo, send me a message. “If YG fires her, message me. I’ll take her.” The economic effect created by brand ambassadors is soaring. Unlike advertising models, which mean ‘ambassador’ in diplomatic terms, ambassadors represent the overall brand image and are responsible for increasing brand awareness and value, as well as sales.
◇When they become popular, they are sold out.
Dior’s sales have risen sharply since recruiting Jisoo as an ambassador in 2021. Sales, which were KRW 325.5 billion in 2020, rose to KRW 930.5 billion in 2022, recording the ‘highest level of sales ever’. This is the background to the birth of the so-called ‘exponential effect’. According to Launch Matrix, a big data analysis company, at last year’s Paris Fashion Week, the media influence value (MIV) obtained by Jisoo from posting a Dior-related post on her personal Instagram account amounted to $1.74 million (about 2.3 billion won).
This is not all. Blangpink member Jenny also generated an MIV of $1.9 million (approximately 2.5 billion won) at the Cannes Film Festival in France last year. Calvin Klein (CK), which appointed soccer star Son Heung-min as its ambassador in 2022, and Louis Vuitton, which selected BTS as its ambassador, are also said to be seeing great results.
BTS appeared at Louis Vuitton’s AW21 (Fall/Winter) men’s fashion show. /Louis Vuitton
Analysis suggests that this was possible as the number of young generations interested in fashion and luxury goods increased. Consulting firm Bain & Company said, “The luxury goods consumption of the MZ generation (born between 1981 and 2010) increased by more than 80% from 123 billion euros (approximately 178 trillion won) in 2019 to 229 billion euros (approximately 332 trillion won) in 2022.” The proportion of 25-34 year olds in the sales of luxury brand Saint Laurent is approximately 39%.
◇K-celebrity who surpasses Kim Kardashian
The shift of luxury brand ambassadors from American and European actors to Korean Wave stars is also a change in the trend of ambassador marketing. This is because the marketing effect through Hallyu stars is so great. Marketing platform Lefty released an analysis that found that five out of the ten most talked about stars at Paris Fashion Week held last spring were K-pop stars. In September 2022, the EMV (Earned Media Value) created by the partnership between famous American broadcaster Kim Kardashian and Dolce & Gabbana was $4.6 million, but the EMV of Jisoo, who appeared at the Dior show held in Paris that year, was $7 million. There is also a launch matrix analysis that shows that this has been achieved.
However, experts advise that the Ambassador may damage its image as a luxurious brand. The price of luxury goods is set based on scarcity, and the activities of ambassadors can bring about a familiar and popular image of luxury goods. There are also concerns that if the ambassador and the brand image are excessively identified, the brand value could be swayed by a single word or action of the ambassador.
The increase in ambassador activities by celebrities who are popular with teenagers may lead to the side effect of overconsumption among teenagers. Lee Eun-hee, a professor of consumer studies at Inha University, said, “Adolescents, who are more emotionally immature than adults, become familiar with luxury goods through ambassadors and may become addicted to excessive ‘luxury consumerism.’”
Subscribe to the WEEKLY BIZ newsletter ☞
1711113017
#Blackpink #Jisoo #squinted #wearing #Dior #dress