25 October 2023
Paris women’s ready-to-wear fashion week has captured the attention of a global audience, reaffirming its status as the world’s most important fashion event. According to the latest report from marketing analytics specialist Launchmetrics, the media impact of the Spring/Summer 2024 fashion shows held in Paris from September 25 to October 3 increased by 30% year-on-year. The French capital’s fashion shows became the most followed worldwide; nearly 160,000 views were downloaded (up 64% year-on-year), well ahead of Milan with 100,000 downloads, New York with just under 80,000 downloads, and London with just over 40,000 downloads.
The media impact value (MIV) of Paris Fashion Week increased from $384.4 million in September 2022 to $499 million in September this year. “Paris’ dominance is explained by the official calendar’s inclusion of all the best fashion and luxury names, as well as the strong international presence of the most prominent brands. Paris Fashion Week has become a real cultural event,” said Pascal Morand, executive director of the French Federation of Fashion and Haute Couture, who was invited to analyze the events’ audience figures in an online conference.
Paris’ exponential growth has been driven by the growing influence of social media, which continues to gain ground, especially when compared to traditional web channels. Instagram took the lion’s share of Paris Fashion Week MIV with $269.1 million; this is equivalent to 53.9% of MIV generated by digital media. Instagram’s share was the second most important channel throughout the event, despite being three times higher than traditional web channels, with a 17.5% MIV share.
TikTok has made a remarkable breakthrough; Its MIV increased by a whopping 172% year-on-year. “We have entered a new era where social media encourages immediate experience, while print media plays a different role, more respected for content quality and credibility,” Morand said.
Another finding was the increasing influence of labels’ social media channels, with the average MIV for Spring/Summer 2024 increasing by 32%. “Record labels have become more professional, they are increasingly focusing on their own social media channels, and they are becoming increasingly influential in their posts and content,” some of the participants of the online conference said.
Fashion brands are also increasingly targeting celebrities, which allows them to benefit from the media buzz they can generate and the visibility they provide brands on their own social media. At the latest Paris Fashion Week, celebrity MIV rose 93% year-over-year, from $32.9 million to $63.6 million.
The share of MIV generated by various social media channels has varied; celebrities posted a notable increase, accounting for 12.8% of MIV at the latest Paris womenswear week (compared to 8.6% last year). Celebrities’ MIV share was just behind labels’ own social media share (down from 13.6% last year to 13%) and influencers’ share; however, it is down significantly (14.1% this year compared to 18.9% in September). 2022). Labels’ other media partners accounted for 3.1% of MIV, compared to 3.5% the previous year, while traditional media still had the largest share of MIV at 57%, above the 55.5% recorded last year taking.
Finally, from a regional perspective, the appeal of Paris Fashion Week seems to know no bounds. Asia-Pacific stood out; celebrities achieved 203% more MIV in the last edition compared to European celebrities. Also highlighting Japan’s strong performance, Launchmetrics said, “India, in particular, is becoming the epicenter of luxury fashion, and this transformation is driving exponential growth in the country, whose MIV grew by 225% compared to the Spring/Summer 2023 season.” MIV grew by 173%, and Thailand, which “ranks No. 3 in the Asia-Pacific region for MIV growth and, surprisingly, ranks No. 1 globally for celebrity-generated MIV.”
Christian Dior topped Launchmetrics’ ranking of the 20 most popular brands at the latest edition of Paris Fashion Week with a MIV of $59.5 million, 71% higher than recorded during last year’s summer. The star label of the LVMH group noted the excitement created by Thai celebrities such as Nattawin Wattanagitiphat and Phakphum Romsaithong.
Dior was followed by Bernard Arnault’s luxury group Louis Vuitton, which rose from No. 4 to No. 2 with MIV of $38.2 million (up 74%), led by South Korea’s K-Pop stars and Miu Miu. It reached the podium in the rankings for the first time with a MIV of $24.7 million, up 45%.
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