Article ID Journal Published Year Pages File Type
1014087 Business Horizons 2014 11 Pages PDF
Abstract

South Korea was first introduced to luxury brands in the 1990s. Since then, a great interest in luxury products, or myungpoom, and foreign products, called waejae, has developed. Despite the strong preference for fashion products from the United States and Europe, Sang A, a brand founded by a woman born and raised in Korea, is recognized as a myungpoom in Korea. This new luxury brand is also known for its designer handbags in the United States and is quite successful in both countries. In a comparative study of Sang A and the internationally well-known luxury brand Jimmy Choo using literary research, Internet research, field research, and interviews with Sang A bag consumers, I identified several key elements of success for the two brands: niche market targeting, storytelling, a ‘hungry attitude,’ high prices but accessible discounts, thorough management of distribution channels, and image-making through star power. This article implicates that Korean consumers have complex desires that go beyond simply wanting foreign goods.

Related Topics
Social Sciences and Humanities Business, Management and Accounting Business and International Management
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