Many people in South Korea are worried that teenagers will spend more on luxury brands, as many world-renowned luxury companies have been tapping younger K-pop idols to become their brand ambassadors.
According to a report, considering that many teenagers are often fans of K-pop stars, it has become a concern for many people that many global companies are recently selecting teenage K-pop stars in South Korea to promote their brands.
In the past few years, well-known and expensive brands have been promoted by many K-pop personalities. Chanel has tapped BLACKPINK’s Jennie for many years now. Louis Vuitton is promoted by Bae Doona, Jung Ho Yeon, Kang Dong Won, and BTS member J-Hope. Dior has BLACKPINK member Jisoo and BTS member Jimin.
The list of K-pop idol brand ambassadors is not limited to these brands. Rose of BLACKPINK is a known ambassador of the brands Yves Saint Laurent and Tiffany & Co., Lisa is a long-time ambassador of Celine and Bvlgari, BTS’s Suga has promoted Valentino, and many more K-pop idols have done the same with other brands.
However, luxury brands have been selecting younger idols recently. Members of the girl group NewJeans have become ambassadors for various expensive brands. The group is known for their songs like “OMG,” “Ditto,” and “Hype Boy.” Dior recently tapped Haerin, Hanni is promoting Giorgio Armani Beauty and Gucci, Minji is an ambassador for Chanel Beauty, Hyein is for Louis Vuitton, and Danielle is promoting Saint Laurent Beauty and Burberry.
Since the demographic or market for expensive brands has become younger, companies have been tapping younger K-pop idols as well, based on the report. Younger generations are expected to become avid consumers of these brands. Generation Alpha, Generation Z, and Millennials will comprise the majority of sales of fashion brands worldwide in 2030, according to Bain & Company.
According to the firm’s report early this year, Generation Z and Alpha will become the major purchasers of luxury goods in the future. “The spending of Gen Z and the even younger Generation Alpha is set to grow three times faster than other generations’ through 2030, making up a third of the market,” Bain & Company stated in their report.
There are parents who have been facing financial challenges because many of their children request expensive goods. This includes various products like cosmetics (makeup), shoes, and even wallets. The report indicated that teenagers are said to have a tendency to follow the clothes of celebrities they like. They also tend to spend on costly items so that they can have friends.
Other POP! stories that you might like: