Tiffany & Co. has revealed Jimin, a K-pop star, as its brand new ambassador as luxury jewelry companies pursue South Korea’s expanding luxury market.
According to the jeweler, the singer’s real name is Park Ji-min, will take part in his first advertising effort for the company this spring.
Among the news was a picture of the company’s “Lock” bracelets and Jimin, who was shirtless. After Rosé from the girl group Blackpink was announced as a brand ambassador in 2021, he becomes the second K-pop star to sign a contract with Tiffany & Co. in recent years.
The jeweler has a “passion for design, innovation, and artistry,” the performer said in a press release, calling the collaboration “a tremendous honor.”
Since luxury conglomerate, LVMH announced that it will be acquiring the jeweler in 2019, South Korea and China have played a crucial role in Tiffany & Co.’s development. Currently, the company’s website shows over 20 locations across the nation, including more than a dozen in Seoul, the nation’s capital.
Tiffany & Co. had a “record year” in 2022, according to a report from LVMH in January. The jewelry and watch division of the conglomerate, which also contains well-known names like Bulgari, TAG Heuer, and Chaumet, saw an 18% rise in revenue.
With Jisoo, a member of Blackpink, being revealed as the new face of Cartier in May of last year, high-end jewelers are increasingly looking to capitalize on the influence of K-pop. In recent years, fashion houses like Chanel, Prada, and Gucci have also made announcements about collaborations with South Korean performers, actors, or both.
According to Morgan Stanley, the nation’s expenditure on luxury goods increased by 24% to $16.8 billion last year. This works out to $325 per person, making South Koreans the world’s largest consumers of luxury goods, according to the investment bank.
The announcement from Thursday comes as Jimin gets ready to release his newest solo record, “Face,” later this month. Since last year, BTS has been on a break as its members complete or get ready to complete their required military duty.
Although a law enacted in 2020 permits some high-profile individuals, such as entertainers and athletes, to postpone their military service until the age of 30, nearly all able-bodied males in South Korea are required to serve in the army between the ages of 18 and 28.
The eldest member of the group, Jin, enlisted in the military in December, but Jimin, who is one of the BTS’s youngest members at 27 years old, has yet to reveal when he will deploy. In January, he made his debut as a brand ambassador for the French fashion company Dior.
BTS, the first K-pop group to receive a Grammy nomination, had a partnership with Louis Vuitton, another LVMH-owned company, prior to declaring its hiatus.
Jimin was referred to as a “multifaceted artist and performer” in a statement by Alexandre Arnault, executive vice president for product and marketing at Tiffany & Co.
Son of LVMH’s billionaire owner, Bernard Arnault, he “embodies the energy, flair, and sense of modernity that defines Tiffany and Co.,” added Arnault.
