What women want: Creation of a luxury brand

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.