V (BTS) contributed to Celine Korea's 591% increase in profit.

According to KoreaJooAngDaily, the four most popular luxury brands in South Korea – Hermès, Chanel, Louis Vuitton, and Dior – saw their operating profits decline in 2023.

However, Celine achieved a massive 591% increase in profits thanks to the brand's growing appeal to young people, its affordable prices, and the allure of K-pop stars as brand ambassadors.

The brand, owned by the luxury conglomerate LVMH, is gaining a growing presence in the South Korean market as big K-pop stars like Lisa (Blackpink) and V (BTS) are appointed as brand ambassadors.

Celine has top K-pop stars as ambassadors. Photo: Instagram

Celine Korea's operating profit rose to 17 billion won (US$12.4 million) in 2023, up from 2.5 billion won the previous year. Meanwhile, the company's revenue increased sixfold to 307.2 billion won in 2023, a 513.2% increase from 50.1 billion won in 2022.

Conversely, the combined operating profit of the four brands Hermès, Chanel, Louis Vuitton, and Dior last year was 1.1 trillion won, a 19% decrease compared to the previous year.

Celine terminated its contract with Shinsegae International and established Celine Korea, a direct subsidiary that entered the South Korean market early last year.

Shinsegae International has been importing and distributing this brand's products since 2012. Direct entry into the Korean market allows the luxury brand to increase its profit margins overseas, as it doesn't have to work with distributors.

According to a luxury goods importer, Celine products are increasingly popular among young people, with most customers in their 20s and 30s. This trend is so strong that even customers in their 50s, 60s, and 70s are pursuing them.

Influencers and K-pop stars frequently endorse the products, giving the French fashion house a trendy image.

Furthermore, Celine's products are relatively affordable compared to those of the four luxury brands mentioned above, making them more accessible to the general public. This has made Celine stores one of the most popular in South Korea today.

V (BTS) had a significant impact on Celine's profits. Photo: Naver

In 2023, V (Kim Taehyung) was chosen as Celine's newest global ambassador, and his promotional activities with the brand have been a resounding success.

According to Lefty, a marketing analytics platform, in his first year in the new role, V quickly became Celine's best-performing ambassador.

In just 10 months, from March to December 2023, V generated $274 million in media value for Celine (through Instagram post engagement). This is the highest media value Celine has ever received in a single year from any of its ambassadors.

Additionally, V was ranked 3rd on Lefty's list of the most influential fashion stars of 2023, despite his absence from international fashion weeks and other major fashion events.

V's activities with Celine continued even after he completed his military service. Celine continued its global campaign, with V's billboards in major cities in China and South Korea from December 2023 to January 2024.

V also appeared on the cover of Harper's Bazaar Korea's February 2024 issue, and had a special Valentine's Day photoshoot for W Korea, released on February 14th this year. Both magazines were prepared before his enlistment.

After Celine appointed Danielle (NewJeans) as its new global ambassador in March of this year, it seems Lisa (Blackpink) has ended her contract. Currently, V is Celine's most influential and charismatic ambassador globally.

Source: https://laodong.vn/giai-tri/v-bts-gop-phan-giup-celine-han-quoc-tang-591-loi-nhuan-1354462.ldo