When Hallyu Meets Luxury
South Korea has become a key player in global luxury, with its luxury goods market valued at $16.8 billion. At the same time, the rise of K-pop and K-culture, known as the Korean Wave or Hallyu, has created new opportunities for luxury brands to reach a wider audience.
Our report, “When Hallyu Meets Luxury,” examines how luxury brands can effectively leverage the Korean Wave to market their products. We delve into which luxury brands use Korean celebrities as brand ambassadors and how effective this strategy is. We also look at the South Korean luxury market itself, highlighting its unique characteristics and how luxury brands are increasing their presence in the South Korean market.
Luxury brands that successfully incorporate Hallyu into their marketing strategies and adapt to the unique characteristics of the South Korean luxury market will increase engagement with their global audience and strengthen their foothold in this growing market.
This brings us to the question: is Hallyu here to stay? We’ve got the answer.