This research examined how customers evaluate fashion brand collaborations in speculating the collaboration factors, product, model, and designer. Respondents evaluated 8 different collaborate case cards from 1 to 8, presenting a certain fashion brand, who had recently teamed up with various kinds of product companies for collaboration. Product was found as the most important factor in evaluating the collaboration case cards, analyzed through Conjoint Analysis. Respondents segmented additionally by clothing involvement valued different collaboration factors; products for the high clothing involvement group and messenger and designer for the low clothing involvement group. All the segments and respondents chose the best the card presenting blue jeans, Mr. Chang, and B.S. Choi, as similarity for products, fame for mdoel, and similarity for designer, respectively.