Saturday, April 20, 2024
The fashion house Dior unveiled BTS member Jimin as their new global ambassador last Monday. With this, Jimin became the first Asian male to be appointed Dior’s global brand ambassador, giving fans a huge milestone to celebrate.
But on the business side, it looks like Dior got the maximum value out of this deal, reports Koreaboo.
Dior has maintained its hold as a luxury fashion house for decades. In 2022, it was named the second most popular luxury brand in the world by Luxe Digital. To become a representative of such a legacy brand is in itself a huge achievement. But Jimin has brought on more to the table.
According to data from investing.com, Dior achieved their all-time highest stocks after Jimin was announced as its newest brand ambassador.
The brand has been on the stock market since 1992. After the announcement on January 16, the stock price went up to €775.50 EUR on the same day. By January 18, the price went up to €789.00 EUR, hitting an all-time high in 31 years.
BTS members are no strangers to driving up brand values. When Louis Vuitton signed the entire group as their house ambassadors in 2021, they also achieved an all-time peak in the stock market.
Even when they are not ambassadors, a mere association between a company and BTS has driven up their sales like crazy in the past.
Now that each of the members is accepting individual endorsement deals, it will be interesting to see how far their star power could elevate the brands they represent!
