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BTS sensation Park Jimin has reportedly increased DIOR's revenue stream since he was designated as the French multinational luxury fashion house's global ambassador. On January 23, 2024, a leading South Korean business publication, Economist, reported that DIOR has generated over $746 million or 1 trillion KRW in 2023, since its infiltration into the South Korean market. Additionally, this is the first time that the brand has hit such a revenue number in South Korea in 27 years.
The country is a huge market for brands like Louis Vuitton and Chanel. Hence, DIOR's entry into the consumer base and a massive surge in their revenue in 2023, owing to Jimin's global standing, attests to the singer's impact. As a result, fans went to Twitter to laud the global icon for his influence on the fashion world.
It is important to note that the Set Me Free Pt.2 singer-songwriter was announced as the global ambassador for the French multinational luxury fashion house on January 16, 2023. LVMH, the company that owns both DIOR and Tiffany & Co., appointed Jimin as the face of both the brands as soon as the group members embarked on their respective solo endeavors.
Fans rejoice as Jimin's appointment as DIOR's global ambassador enabled the brand to earn historic revenues
With sales revenue equivalent to approximately 1.69 trillion South Korean won in 2022, Louis Vuitton was the most profitable luxury brand in the country. Chanel came in the runner-up spot with sales in excess of 1.59 trillion South Korean won. In that particular year, just those two high-end brands had sales beyond one trillion dollars.
The high-end fashion brand Christian Dior made over 14.7 billion euros in net profit on over 79 billion euros in revenue in the fiscal year 2022. The business brought in over 64 billion euros in turnover and made about 12.7 billion euros in net income the year before. However, as soon as the news of DIOR's appointment of Jimin as its global ambassador reached the market, it was enough to tip the scales.
As reported by Economist, after Jimin's association with DIOR, the French multinational luxury fashion house has now joined Louis Vuitton and Chanel in the trillion KRW seller brands club in the South Korean market.
On January 23, 2024, the latest update from the Economist created a stir among netizens as they flocked to social media to appreciate Jimin's impact:
The Like Crazy singer-songwriter's impact on the fashion world doesn't end here, as he reportedly generated $17 million Earned Media Value (EMV) with his twin post for DIOR last year. Additionally, the DIOR Spring 2024 campaign featuring the charming BTS idol has already solidified the brand's stronghold in the South Korean market.
In the meantime, the global ambassador of DIOR and Tiffany & Co. is fulfilling his mandatory service of 18 months in the South Korean military. He is reportedly undergoing intense military COLD range training.
