The purpose of this study was to identify the impact of materialism on the attitude toward purchasing foreign luxury brands and the moderating effect of consumer ethnocentrism on this impact. Data were gathered by surveying university students living in Seoul metropolitan area using convenient sampling, and 325 questionnaires were used in the statistical analysis. In analysing data, confirmatory factor analysis and path analysis were conducted using structural equation modeling. Results showed that success factor of materialism gave rise to negative attitude toward purchasing foreign luxury brands while centrality factor of materialism spurred positive attitude. Consumer ethnocentrism also showed a significant effect as a moderator on the relationship between materialism and attitude: The relationship between materialism and attitude was stronger among subjects who had lower consumer ethnocentric tendencies than among subjects who had higher consumer ethnocentric tendencies.