While last year’s spring season was characterized by media-hit moments and spectacular productions, designer debuts and star power were on the agenda for spring/summer 2024. Viral sensationalism was forgotten for the first time this season, with brands instead concentrating on a star cast – both on the front row and on the catwalks.
The PR and image agency Karla Otto has now analyzed in a report to what extent this change in strategy affected the fashion houses’ appeal on social media.
Striking actors as a goldmine?
According to the influencer marketing platform Lefty, which Karla Otto worked with for the report, the spring/summer 2024 season generated an earned media value (EMV) of more than 829 million US dollars (783.18 million euros). This represents an increase of 50 percent compared to SS23. In particular, the video platform TikTok, or rather #TikTokFashion, grew from 1.5 billion to a total of 9.5 billion views this season. Unlike last year, the designers could not rely on top model Bella Hadid as the driver of the EMV – the model was not present this season due to illness – but they found athletes, screen heroes and TokTok fans. phenomena lucrative alternatives.
Earned Media Value:
To define the most outstanding shows of this season, Lefty and Karla Otto analyzed Instagram posts and TikTok videos from influencers with more than 10,000 followers. The platform particularly looked at the respective impressions and engagement of the influencers’ Fashion Week postings. Lefty then calculated the so-called Earned Media Value (EMV) of the respective contributions or brands. Earned Media Value is a key indicator for brands and influencers to understand the impact of their publication. As part of the report, Lefty defines earned media value as the equivalent of the advertising spend a brand would normally have to incur for the impressions won. For Instagram and TikTok, a price of 100 US dollars (93 euros) per cost-per-mille (CPM), also known as the thousand-contact price (CPM), was calculated.
Of the 200 brands analyzed as part of the report, 189 chose to include actors as part of their marketing strategy. According to Thomas Repelski, co-founder and CEO of Lefty, one reason for the strong presence of actresses at Fashion Week is the ongoing SAG-AFTRA strike in Hollywood, which fashion brands now appear to be benefiting from. High-profile personalities contributed a total of $610 million to the season’s total EMV. Among them, actors achieved the highest average EMV at $450,000 (around €423,067) per person.
However, despite all the hype and a front row lined with stars like Jessica Chastain, Ryan Gosling and Paul Mescal, designer Sabato De Sarno’s highly anticipated Gucci debut turned out to be only the second-biggest show of Milan Fashion Week. At the end of the day, the Florentine fashion house only took fifth place among the most media-effective brands of the entire season. Gucci and its bridgarde of stars generated EMV of $35.4 million, growing over 139 percent year-over-year, but couldn’t hold a candle to Prada or Dior.
The five strongest brands of the spring/summer 2024 season
Dior: 57.1 million US dollars (53.7 million euros); Growth of 1.6 percent year-on-year (SS23)
Prada: 50.8 million US dollars (47.8 million euros); Growth of 70.4 percent year-on-year (SS23)
Louis Vuitton:44.9 million US dollars (42.2 million euros); Growth of 156 percent year-on-year (SS23)
Schiaparelli: 41.1 million US dollars (38.6 million euros); no previous year’s value
Gucci: 35.4 million US dollars (33.3 million euros); Growth of 139 percent year-on-year (SS23)
In fact, the divided attention on different talents may have worked “against” Gucci in this case, because while the strong focus on one person carries risk, if chosen correctly, the strategy can certainly generate the attention you crave. A prime example of this was the appearance of the American actress Zendaya at the Parisian luxury brand’s SS24 show. Images of the Louis Vuitton brand ambassador not only flooded social media but also brought in an EMV of $15.3 million. She was therefore responsible for 39 percent of the brand’s total media volume.
In addition to well-known personalities like Zendaya, the presence of Asian actors was also significant. Of the five actors who attracted the most attention during SS24 Fashion Week, three are from Asia. Brands are increasingly benefiting from talent recognition, particularly their remarkably high engagement rates on social media and fiercely loyal followings. The report further states that the luxury market in Southeast Asia is expected to grow by 10.25 percent between 2023 and 2027, making the region a new playground and opportunity for brands.
Dior has already recognized this opportunity and has once again secured first place in the ranking of the most media-effective brands this season. The French fashion house recorded an EMV of US$57.1 million (€53.7 million), although only a relatively small growth of 1.6 percent year-on-year (SS23). The reason for this could be the brand’s influencer and brand ambassador strategy, which has been established for several seasons. Dior has been relying on Korean pop stars and various TikTok and Instagram stars for some time now. This season, however, it was rising Thai actors Nattawin Wattanagitiphat ($9.7 million in EMV) and Mile Phakphum Romsaithon ($7.2 million in EMV) who turned heads.
However, no one could hold a candle to reality TV star Kylie Jenner this season. The 26-year-old made guest appearances at Schiaparelli and Acne Studios – two brief appearances that generated a combined EMV of $22.6 million.
The five most important personalities of the spring/summer season 2024 (on Instagram)
Kylie Jenner: 22.6 million US dollars (21.3 million euros)
Zendaya: 15.3 million US dollars (14.4 million euros)
Enhypen (Band):11.1 million US dollars (10.4 million euros)
Nattawin Wattanagitiphat: 9.7 million US dollars (38.6 million euros)
Momo: 8.2 million US dollars (7.7 million euros)
TikTok phenomena and athletic feats
The fashion industry has also found a strong ally in sport this season. Beyond the boundaries of men’s fashion, brands are increasingly harnessing the appeal of athletes from different sports to adorn their front rows. This strategic move not only expands the circle of talent, but also attracts a broad and diverse audience, says Karla Otto.
However, in spring/summer 2024, the trend for collaboration between fashion brands and athletes has reached a new peak, as a total of 35 brands have teamed up with a total of 68 athletes. These collaborations resulted in a total EMV of $14.2 million (approximately €13.4 million).
At the center of this fusion of sport and fashion are David and Victoria Beckham. Her new documentary series, launched during London Fashion Week, has catapulted her to new heights of cultural relevance. This documentary not only led to a surge in the EMV of the SS24 season, but also cemented David Beckham’s status as the most relevant athlete of the season. It achieved an EMV of $6.5 million.
The five most important athletes of the spring/summer season 2024 (on Instagram)
David Beckham: 6.5 million US dollars (6.11 million euros)
Liz Cambage:931.000 US-Dollar (875.000 Euro)
Ashraf Hakimi:892.000 US-Dollar (839.000 Euro)
Son Heung-min: 761.000 US-Dollar (715.000 Euro)
Bukayo Then: 544.000US-Dollar (511.000 Euro)
In a seamless transition from one pop culture phenomenon to the next. Nowhere is the influence of popular culture more evident than on TikTok. The hashtag #TikTokFashion recently recorded 9.5 billion video views in a single month, surpassing FW23 views by 2.4 times, according to TikTok.
Fashion houses quickly recognized the booming TikTok trend and took advantage of it. In the run-up to the show, Gucci, for example, specifically collaborated with social media luminary Amelia Dimoldenberg, who is known for her “Chicken Shop Dates,” a video format in which she interviews celebrities. This also included a conversation with the influencer Emma Chamberlain, who has already hosted prestigious events such as the Met Gala.
The rise of Sabrina Bahsoon, also known as “Tube Girl”, one of the youngest TikTok sensations, is another example of TikTok’s far-reaching influence. Bahsoon became known on social media for short videos in which she films herself dancing on the crowded London subway. Their presence has now expanded beyond digital platforms. The dancing influencer had been a guest at various shows in New York and Paris. Their influence extends beyond users’ screens and has generated $1.6 million in EMV across TikTok and Instagram, generating more than a million impressions for the brands.
2023-11-03 15:16:50
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