The emergence of new consumers such as Millennial, the development of the Internet and the emergence of Omni-Channel have brought about changes in the world luxury industry.
Luxury, imperial leadership, and exclusivity, which were cited as the intrinsic value of luxury goods, have been forced to change the transformation of information into the democratization of the Internet.
Several years ago, in the domestic luxury sector, the digital disruption phenomenon based on online such as e-commerce, SNS, etc. came up as a keyword. In this social situation, academia and industry are wondering how to effectively integrate online marketing with traditional luxury marketing methods.
Because, 'Dream factor' cannot actually meet the curiosity of customer only using from invisible virtual images in on-line which is characteristic of important luxurious industry.
For this reason, luxury brands have always used a distribution strategy that emphasizes the off-line flagship store as a platform for brand identity and an immersive experience to embody the dream.
The Institute for Luxury Brand Management at Hanyang University believes that luxury marketing research should be carried out in a way that reflects actual and current social needs. We will become a 'living research institute' that reflects the latest information on various researches, industry trends and news from cooperation between academia and industry.
The essence of luxury is making people ‘dream’. From an academic point of view, we will explore how to keep consumers dreaming. We hope that this mission will inspire the individual who is fascinated with the interplay of the academic and luxury industry.