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Fashion Weeks: the millionaire bet of the brands to the virtual world

paris fashion week
paris fashion week

As the restrictions of the pandemic are loosening, the Fashion Weeks shine again in their maximum splendor. One of the most dizzying and changing industries in the world breathes easy seeing that the rebirth of fashion shows brings new airs and installs new codes of communication.

New York, London, Milan and Paris are home to the windows that inspire and make the immense world of fashion talk. There are born the trends that will later be seen in the streets. In this last season, very important changes began to be noticed in the way of communicating and implementing marketing strategies. The big brands allocated their budgets mainly to obtain a very high impact on networks, summoning mega-celebrities, influencers and opinion leaders to the front rows of their fashion shows. In addition, they sought to penetrate new markets including referents of the new generations such as K-Pop artists.

This turn generated unique moments where the huge productions were displaced by icons of the virtual universe such as the sisters, Bella and Gigi Hadid, the model and actress, Emily Ratajkowski, the South Korean singer and rapper, Jennie, the protagonists of the successful teen series Euphoria , the influencer Leonie Hanne, and the model and actress, Julia Fox.

The inclusion of new technologies in the definition of digital marketing strategies has allowed brands to not only measure an accurate impact, but also who their message has reached. The results of these digital marketing actions have a very efficient way of measuring, which are called KPI (key performance indicator). Another of the tools we have in the digital world is the MIV (mean impact value), which has been created especially for the fashion world. It is used to calculate the impact of campaigns through several indicators: reach, price for the medium, quality of the publication and platform, and quality of the content. The MIV was designed by Launchmetrics, a renowned and prestigious digital marketing agency that specializes in fashion, luxury and lifestyle.

Throughout the circuit of fashion weeks, the frantic race for metrics has prevailed, which has achieved very relevant results in each performance. As an example of this, it should be noted that New York Fashion Week generated a total of USD 117 million in MIV. This result was achieved thanks to the return of celebrities to the fashion scene. Julia Fox was mentioned in 1,100 posts and contributed $4.6 million in MIV. Michael Kors was the brand with the greatest impact, his parade meant a MIV of USD 13.9 million. The distribution of the investment was 27% owned by the brand and the remaining 73% was due to the presence of Bella Hadid on the catwalk, generating USD 2 million in return on investment in networks. The second brand that had high MIV metrics was Coach with USD 7.5 million, it had the presence in the front row of Angus Cloud, Fezco’s character in Euphoria, who generated USD 2.6 million in return in networks. Third place went to Carolina Herrera, who came from years with low digital impact. The promotion was thanks to the presence and posts of the actress, Alexandra Daddario, and the influencer, Leonie Hanne, who meant USD 636,000 and USD 331,000, that is, 21% of the total MIV that came to be of USD 6.4 million.

Following the global fashion calendar, we fly to London, a fashion week that is characterized by giving rise to new talents and brands, thus mainly recognizing the creative value of the industry. This season, there was great media coverage of emerging designers and growing brands that have had a high impact in the digital world, reaching returns that reached the sum of USD 40.4 million in MIV. This was reflected in brands like Molly Goddard, Roksanda, and others, each generating $1.5 million in MIV. At the top of the virtual ranking, we can find little-heard brands and designers, but with a lot of projection, such as the designer Simone Rocha, recognized for having dressed Kate Midletton and Michelle Obama, and for having collaborated with Moncler and H&M. Her return on MIV reached USD 3.4 million. It is followed by the winner of the LVMH award, Nensi Dojaka, who seeks to recover the sensuality of female bodies through her designs. The MIV return was USD 2.9 million. Third place went to the young star of English fashion, Richard Quinn. Let’s not forget that in 2018 he had the Queen of England, Elizabeth II, sitting in the front row of her show. It was the first time in history that the Queen attended a parade of a commercial brand, who also gave her the designer of the year award. This season Quinn chose not to invest budget in social networks. However, he showed that his content and the staging of his show in which he honored the golden age of haute couture was of enormous interest to his audience. The event was organically amplified in digital media through influencers and celebrities, reaching US$2.8 million in MIV.

we move to Milan. The Italian fashion week generated USD 171 million in MIV. The key to this result was the voices of celebrities and influencers, who accounted for between 13% and 23% of the total MIV. We started with the Gucci fashion show in which we could see the power of collaborations between two leading brands. Designer Alessandro Michele added some Adidas items to his looks. In this way, the two brands enhanced visibility and impact and obtained a greater reach on networks, reaching USD 26.8 million in economic compensation. The Versace house had a return of USD 14.4 million in own media and celebrities. The firm stands out for the friendship that Donatella has with models and celebrities such as Emm Rata, Lila Ross and the Hadid sisters. To understand the magnitude of Gigi and Bella, they alone generated USD 3.1 million of MIV. Prada had the highest performance thanks to the strong activation with celebrities, achieving USD 31 million in MIV. Their great performance was not only due to their star-studded audience but also due to the bet they made on K-Pop music stars that earned at least USD 5.9 million from the MIV.

Finally, the most important fashion event in the world, paris fashion week, generated an impressive return reaching USD 260 million in MIV. YouTube and TikTok led the virtual scene generating USD 17 million. Maison Dior reached USD 41.9 million, 21% corresponds to the eastern market with Korea in the lead generating USD 2.2 million. In second place was the Balenciaga parade where the inspiration and staging represented the problem of climate change and showed their solidarity with the Ukrainian people. The parade reached a MIV of USD 25.2 million, 65% was repercussion in the media. Chanel also benefited from K-Pop celebrities, ranking third with $22.5 million in MIV.

With the return to face-to-face fashion shows, brands took advantage of their own communication platforms, adding strategic allies such as the media, digital talents, celebrities and opinion leaders. In addition, the success had to do with the ability of the great houses to create unique experiences, and capitalize on circumstantial moments as Balenciaga and Gucci did. Undoubtedly, the importance of the oriental market in fashion and luxury is indisputable, its presence and leading role in communication channels grows edition after edition.

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