As Paris Fashion Week 2020 draws near, Launchmetrics, a prominent fashion and luxury analytics institute, has released a report on the media visibility of luxury fashion brands during the previous fashion week in Paris. This report provides valuable insights into the influence and impact of these brands.
The study reveals that Chanel achieved the highest Media Impact Value (MIV) during their October 2019 runway show. MIV is a metric that quantifies the value of a brand’s activities by assigning a monetary value to each post, interaction, and article. Launchmetrics employs a unique machine learning algorithm that considers over a hundred quantitative and qualitative indicators, including engagement, source credibility, and content quality.
Chanel’s Spring/Summer 2020 show garnered a remarkable MIV of $21.7 million, placing them ahead of Balmain ($19.7 million MIV) and Dior ($16.5 million MIV). Other notable luxury brands in the Top 10 MIV list include Saint Laurent, Louis Vuitton, Chloé, Valentino, Celine, Givenchy, and Balenciaga. Louis Vuitton has recently been recognized as the most powerful brand in France according to the latest BrandZ France ranking.
What contributed to Chanel’s viral success? The report highlights the significant role played by surprise elements in the set design of each show, as Virginie Viard continues Karl Lagerfeld’s legacy of captivating mise-en-scènes. The unexpected appearance of actress Marie Benoliel on the runway during the previous season attracted substantial media attention.
In addition to the event itself, the presence of celebrities and influencers in the front row is crucial for all brands. The study emphasizes the growing importance of influencers, stating that, on average, they are the second most effective voice in terms of MIV and provide higher MIV per publication. During the last Paris Fashion Week, the media generated 55% of MIV, influencers generated 20.2%, celebrities generated 13.3%, brands generated 11.2% through their owned media channels, and partners contributed 0.3% to the Media Impact Value.
With the upcoming fashion week commencing on February 24, the recent appointments of actress Marion Cotillard and singer Angèle as Chanel ambassadors, both with substantial followings on social media, could further bolster these results. The influence and impact of these partnerships on the media visibility of luxury brands are undeniably significant. As fashion enthusiasts eagerly anticipate another thrilling week of fashion, the focus will be on the runway, waiting to see which brand emerges as the frontrunner in terms of media impact.
Useful links:
– Launchmetrics – Data on the Runway Report
– Business of Fashion – Data on the Runway Article
