This study examines the effects of collaboration type and brand sensitivity on consumer responses toward fashion collaboration brands. For this study, six brands of fashion collaboration were selected by collaboration types: collaboration with same industry (Uniqlo-Jill Sander, H&M-Sonia Rykiel, and Levis-Jean Paul Gaultier) and collaboration with different industries (LG-Prada, Samsung-Armani, and LG-Levis). A selfadministered questionnaire was developed based on the literature that mainly included brand sensitivity, consumer response (brand association, brand values, and purchase intention), and marketing strategic elements in the context of fashion collaboration. For collecting the data, respondents were asked to choose and assess a previously purchased brand. A total of 299 usable data responses were obtained from Korean consumers aged from 15 to 40 years old. The consumer response toward the fashion collaboration brand consisted of four factors: Emotional value, perceived quality, symbolic value, and brand association. The results showed that the collaboration type had the main effect on emotional value, symbolic value, and purchase intention. Brand sensitivity had the main effect on brand association, emotional value, symbolic value, and purchase intention. There was also an interaction effect on emotional value. With respect to strategic marketing elements, product differentiation, premium pricing, and value pricing had partially positive effect on consumer responses; however, promotion had a negative effect on consumer responses (e.g., perceived quality, and emotional value). In addition, collaboration type or brand sensitivity moderated the effect of strategic marketing elements on consumer responses. This study discussed a managerial implication to develop a strategic brand alliance to manage brand equity in the fashion marketplace.