Posted by pjms_gina54,688 pts Wednesday, January 24, 2024
Dior reports record high annual revenue in South Korea for 2023 thanks to Jimin's impact
Jimin has long been known as a 'Brand King' for his overwhelming influence on the decision-making processes of consumers. His impact is evident from the brand reputation ranking, where he remains to be the first and only idol to rank #1 for 35 consecutive months and 49 months overall [refer here]. Brand Reputation ranking is an index that gauges the marketability of idols in South Korea based on the general public's perception of each of the idols. Such ranking determines who are the most influential idols in the country that are likely to get brand ambassadorship deals and other such opportunities. Thus, it is no surprise that Jimin landed a Global Brand Ambassadorship deal with the biggest luxury fashion brand, Dior, as the first Asian Global Ambassador in the history of the corporation, which is a pretty big deal.
This pleasant news swept across the internet and in the fashion world like a raging stormand fans were ecstatic about this collaboration, saying how befitting the title and the brand are for him, seeing as he himself is a 'luxury idol'. Jimin generated lots of media attention for the brand, as well as publicity on the internet, and actual sales from fans who flocked into Dior stores across the globe to purchase the brand's products in support of their idol. Considering how strong and extensive Jimin's global fan support is, this translated into massive revenues worldwide for the brand and particularly in South Korea as it has now been revealed by one financial news agency in the country.
'Economist' reported that at the end of 2023, Dior had generated over 1 Trillion won (approximately $746 Million) in revenue in South Korea for the first time in its 27 years of operations in the country! This being the year that Jimin was signed as global brand ambassador and made the Face of the Spring 24 collection, there is no doubt that this huge spike in revenue is thanks to his impact.
Dior joins two other luxury brand as the only three entities to earn over 1 Trillion won in the country in annual revenue.
To put things into perspective on how much impact Jimin has had on upscaling Dior's business, here are previous reports on events where his power was witnessed in full swing. One is when he was announced as FACE of Spring 2024 Collection [read here] and another is the massive campaign set up for the collection since the company clearly knew his worth [read here]. This can be deduced from the fact that Jimin inadvertently started 2 trends related to Dior during one of his recent trips to Japan, both of which boosted the establishment's sales significantly. It can also be inferred from how sharply the company's stock prices rose following the announcement of the Global Ambassadorship deal where the stock prices reached an all-time high in the brand's 31 years of operation, as well as the announcement of him as the sole Face of the Spring 2024 collection which saw numerous items from the collection sell-out instantly despite their high price tags.
Thus, it is without doubt that the biggest year for Dior in South Korea is thanks to Jimin.
Jimin's impact is felt in every industry, which is what truly makes him an icon. A recently aired episode of the BTS Monuments documentary showed Jimin ordering chicken from 'Chicken Plus,' and shortly afterward, there was an influx of orders to the restaurant as fans rushed to get a taste of what Jimin had ordered even though Jimin was not endorsing the establishment in any way. Still him buying food from there was enough direct fans' interest to the establishment.
There have been numerous occasions in the past where Jimin has become known as 'Korean Foods Frontman' for his impact in significantly increasing global interest in Korean foods. The VC of Samyang Foods personally extended his gratitude to him for his 'major commercial impact' on the brand, and the company even sponsored one of BTS' concerts in the USA because of him. Jimin has also been mentioned numerous times as the reason for increased sales for other Korean food items such as Tteokbokki, Dumplings and Spicy Chicken Noodles as well as Dageumbari and Citron Tea [refer below for detailed reports].
Finally, Jimin visited a workshop 2 years ago and made silver bracelets, and shared the vlog of his visit to the venue. On the same day of the VLOG's release, the workshop or jewelry design store where Jimin visited made a post on Instagram saying that the store was experiencing a big surge in reservations after Jimin's VLOG and asked fans to be understanding if the responses were delayed, but that they would all be attended to in due time. Jimin's impact on business dynamics was demonstrated yet again, and further proved that there is no business sphere where Jimin has no influence.
A recent post by a fan showed that the jewelry design store is still attracting visitors two years down the line, a show of the long-lasting effect of Jimin's visit. Such impact is what any and every business yearns for!
THAT'S JIMIN STAR POWER 💜💜💜🎆🎆🎉🎉💯💯👏👏