On Monday, January 16, French fashion giant Dior made K-pop sensation Jimin a worldwide brand ambassador, announcing the partnership via social media with photographs of the BTS vocalist wearing Kim Jones-designed outdoor-inspired sportswear.
European luxury brands are attempting to capitalize on the global appeal of K-pop singers, particularly among younger consumers.
The LVMH-owned label has also built ties with K-pop sensation Jisoo of Blackpink, whose appearances at the company’s runway presentations attract throngs of screaming fans to Paris.
Jimin, whose full name is Park Ji-min, is a member of the seven-member K-Pop group BTS, who debuted in 2013 and generated a worldwide K-Pop frenzy with its catchy, energetic songs and dancing movements.
Morgan Stanley analysts report that South Koreans have become the world’s largest per capita consumers of personal luxury goods, spending an average of $325 annually.
The experts stated that the majority of household wealth in the country, 76%, is held in the real estate sector, while property prices have climbed significantly over the previous several years.