Launching their own brands, a side job that brings Kpop idols stable income besides real estate investment
In addition to their main career, Kpop idols are trying to run their own businesses and have achieved certain achievements.
It is not uncommon for Kpop idols to “encroach” into other fields such as real estate investment, buying stocks, or contributing to business capital. In particular, over the past few years, we have witnessed a huge wave of K-pop idols’ marketing, sales, and branding activities.
Various business forms of Kpop idols: From food stores to fashion brands
BTS Jin is a member of the most famous group in the world today BTS, but did you know that he also opened a Japanese restaurant called Ossu Seiromushi with his brother Kim Seok-joong. Given Jin’s reputation as well as the quality of the restaurant’s food, this place has performed quite well. However, in 2020, like the general situation in Korea, this restaurant is currently losing money due to the impact of the epidemic.
However, after the broadcast, ARMY (BTS’s fan community) came to the restaurant to support their idol. Many people shared the information and urged everyone to come enjoy and “rescue” Ossu Seiromushi. It can be seen that, thanks to their reputation, the artists’ business is also somewhat easier.
When it comes to Kpop idols building their own brand, it’s impossible not to mention Jessica Jung. Ever since she was a member of Girls’ Generation, she has already been less active in the entertainment world and made her mark as an entrepreneur, by launching her own fashion label, Blanc & Eclare.
On the same note, G-Dragon is also a visionary artist and a fashion icon. He also launched his own fashion brand, Peaceminusone, in 2016.
The brand was also extremely successful in the footwear industry in 2019 when it partnered with Nike on the launch of the Air Force 1. Named Para-noise, the shoes were launched with a retail price of $200, but are said to have been resold for around US$10,950. It must be partly thanks to the image of the “King of Kpop” that makes the value of the shoes.
It can be seen that the story of establishing the own brand of Kpop idols is no longer a strange thing. Moreover, due to their attractiveness, it is often easier for them to have a larger number of potential customers. However, what is the reason for this shift, as we can see that many artists want to have their own businesses.
The reasons why celebrities choose to set up their own brands
1. Express creativity
During their careers, artists often have a lot of opportunities to collaborate with brands. As ambassadors, they have to adapt to the brand image and what companies are aiming for. Therefore, they do not always have the freedom to fully express themselves in the process of cooperation.
On the other hand, running a business allows Korean idols to apply marketing skills that have evolved through collaborating with brands, creating content, and advertising. When they have their own brands, they can convey their values, passions, and beliefs.
2. Deep connection with fans
By launching a brand, celebrities can interact with their fans in a different and more intimate way. They can build loyalty and trust to create a community of their own. Besides, since fans are the ones who love them very much and understand the meaning behind each brand, they are more likely to succeed in business.
For fans, it can come from different consumer experiences when buying products from fashion brands, beauty brands or enjoying their idol’s food. They will feel close and connected to artists when they own something made by their idol.
3. Create a safer financial future
Sometimes business will create a stronger money base than participating in a singing show, acting or producing music. It is often said that this profession has a very short life expectancy, so having more side jobs is much more stable, which also provides a steady source of income.
If the product they bring to the market really suits a lot of people, it can help them create stability and a steady source of money. It can be seen as an effective way for artists to diversify income sources aside from real estate investment.
