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Luxury Brands Invest in Korean Cultural Heritage

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Luxury Brands Invest in Korean Cultural Heritage

by Daisy D.
06/06/2024
in Luxury Goods

Global luxury brands like Gucci, Chanel, and Hermes are increasingly showing interest in Korea’s rich cultural heritage. They present these efforts as social contributions, although strategic motives underlie their actions.

These brands aim to capitalize on the historical and aesthetic aspects of cultural heritage to bolster their luxury brand identities.

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Gucci has taken a leading role in a significant cultural project at Gyeongbokgung Palace, contributing to the restoration of Gyotaejeon Hall’s mural paintings. Through a social contribution agreement with the Cultural Heritage Administration (CHA), Gucci plans to unveil these replicas by the end of the year.

Chanel, since 2022, has annually showcased artisans with exceptional traditional craft skills from various countries.

Luxury brands like Hermès have also engaged in projects involving the reproduction of palace furnishings in collaboration with national intangible heritage artisans.

Similar initiatives have been observed internationally. For instance, when the Notre-Dame Cathedral in Paris suffered severe damage in 2019, LVMH and Kering, both French conglomerates owning luxury brands, made significant donations towards its restoration.

Tradition and craftsmanship are central to the luxury brand narrative, setting them apart from mass-market products. Professor Jeon Hyung-yeon from Mokpo National University emphasizes that brands view heritage support as a means to strengthen their identity, particularly in the growing Asian luxury goods market.

This trend coincides with the implementation of the National Heritage Basic Law in Korea, which aims to create new value and increase public accessibility to heritage sites.

Dean Jung Sang-chul of Korea National University of Cultural Heritage notes the potential benefits of collaborating with high-end private brands to promote heritage and enhance its value.

However, concerns persist regarding the commercialization of cultural heritage by exclusive brands. Critics argue that collaborations with luxury brands risk undermining the democratic accessibility of heritage sites.

Notably, Hermès is involved in a restoration project for Joseon palaces, including Gyeongbok Palace, slated for completion later this year.

Discover in-depth supply chain report news insights at The Supply Chain Report. For international trade tools, see ADAMftd.com.

#LuxuryBrands #CulturalHeritage #Korea #Gucci #Chanel #Hermès #ArtisanCraft #HeritageRestoration #GyeongbokgungPalace #SocialContribution #LuxuryIdentity #TraditionAndCraftsmanship #NationalHeritage #CommercializationConcerns #CulturalCollaboration #HeritageAccessibility

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