Creative productions, shows in all countries around the world and top-class front row casts ensured numerous fashion events that attracted media attention last year. Influencers and celebrities guaranteed a high level of engagement and interactions on social media, which kept the brands’ coffers ringing. A new report by Karla Otto shows how successful the marketing strategies of luxury fashion houses were in 2023 and who performed particularly well.
The PR and image agency, together with the influencer marketing platform Lefty, analyzed the ten most media and commercially strongest fashion moments of 2023 on Instagram in a joint report.
Earned Media Value::
- It was generated based on Instagram posts in the period from January 1st, 2023 to December 6th, 2023 Earned Media Value (EMV) calculated for the respective contributions. 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, a price of 100 US dollars (93 euros) per cost-per-mille (CPM), also known as the thousand-contact price (CPM), was calculated.
In 2023, one red carpet event followed the next. Last year there was the Cannes Film Festival the Media highlight and particularly stood out on Instagram. The country best reached by the festival’s contributions was India, thanks in part to the presence of Indian celebrities such as actress Anushka Sharma. She generated $17.9 million (€16.5 million) in EMV and increased the visibility of brands such as Chopard, Cartier, Richard Quinn, Prada and L’Oréal through her appearance and accompanying Instagram posts.
The three top events in 2023:
- Cannes Film Festival: 413 million US dollars (380 million euros)
- Met Gala: 230 million US dollars (212 million euros)
- Coachella Festival: 129 million US dollars (119 million euros)
Bulgari in particular has understood the relevance of influencers for brand success and is relying on top-class guests at its ‘Mediterranea High Jewelery’ event in Venice. Thanks to global brand ambassadors Anne Hathaway, Zendaya and Priyanka Chopra, the event generated EMV of $36.9 million (€34 million).
In terms of interaction rates, the luxury labels Bottega Veneta and Ottolinger particularly stood out. Although Bottega Veneta doesn’t have its own Instagram account, the label’s SS24 collection achieved a 1,048 percent increase in engagement rate. According to the analysis of the report, the Berlin label Ottolinger counts as one the Emerging brand with EMV growth of 1450 percent.
Interaction rate:
- The engagement rate is a measure of how actively an audience engages with the content on social media. In social media marketing, rate measures the amount of interactions that a single post, campaign, or entire profile has generated. Interactions measured are likes, comments and sharing.
New places and new faces are success factors
The past year was marked by numerous Changes and new appointments on the creative floors big luxury brands. One new line-up in particular caused a stir: the debut of Peter Hawkings as Tom Ford’s new creative director achieved an EMV of 2.9 million US dollars (2.6 million euros).
But also the eagerly awaited debut of Pharrell Williams for Louis Vuitton achieved the desired success and generated an EMV of almost $50 million. In total, the event received 2,275 Instagram posts, making it the most media-covered men’s fashion show of last season.
The most successful women’s fashion show of the SS24 season brought in similar numbers: Stars like Charlize Theron, Jennifer Lawrence and Jenna Ortega ensured the enormous media impact of the runway show, which generated around 46 million US dollars with 2,248 Instagram posts.
With the Pre and Cruise collections The fashion houses traveled across the globe and one spectacular show followed the next. From LA to Seoul to Mexico – the labels showed their designs across three continents. Gucci and Louis Vuitton were ahead, with their shows in Seoul generating almost twice the advertising value compared to their regular shows.
The five most media-effective shows:
- Louis Vuitton, Pre-Fall 24: 43.3 million US dollars (39.9 million euros)
- Gucci, Cruise 2024: 36.5 million US dollars (33.6 million euros)
- Boss, SS23: 53.1 million US dollars (48.9 million euros)
- Versace, la Vacanza: 32.7 million US dollars (30.1 million euros)
- Saint Laurent, Men’s SS24: 26.5 million US dollars (24.4 million euros)