Photo: Acielle/Styledumonde
From the deep integration of fashion and entertainment circles, to the continuous fermentation of major brand destination shows and the rise of influence in the Asia-Pacific region: the important moment of the whole industry in 2023 reveals the popular strategies of brand marketing this year and the development direction of the fashion industry next year.
“Brand narratives are increasingly going beyond the product. Brands today aim to create cultural impact and appeal, which can often be achieved through the ultimate in entertaining experiences.” Serge Carreira, director of the emerging brands program at the High Fashion Federation in Paris and lecturer at the Paris Institute of Political Science.
Photograph: Aurelien Meunier/Getty Images
Luxury brands have paid more and more attention to destination shows this year, because it not only allows them to present the latest series, but also can easily create interesting online topics for guests who come to participate.
Social media battle reports confirm the firepower of big brands. According to the data of Lefty, the online red marketing platform, only one of the top 15 brand shows in the year is the SS24 show of small brand Schiaparelli. In addition, only the SS24 show of emerging brand Ottolinger performed well in EMV (that is, the amount of advertising expenditure required to obtain media value), with an income of 3.2 million US dollars, that’s far behind the big brands’ top 15 shows this year (all over $30 million).
Louis Vuitton’s Pharrell Williams and Gucci’s Sabato de Sarno are the top designers who made their debut this year. Their show influence is far ahead of Helmut Lang(Peter Do) and Tom Ford’s Peter Hawkings.
Photograph: Louis Vuitton, Filippo Fior/Gorunway.com, ANGELA WEISS/Getty Images, Tom Ford
# Deep integration of fashion and entertainment
# Blurring the lines between communication and entertainment
Pharrell Williams won the 2023 championship with his debut in Louis Vuitton menswear: the star-studded show or performance, including Jay-Z performances, earned $42 million in media influence value for the menswear collection-according to Launchmetrics, a technology social media analysis provider, the media influence value of this show even surpassed that of the largest female fashion show for the first time.
Photo by X @ 21metgala
“Pharrell show wins because it combines three key ingredients for success: a large number of influencers (top three), high engagement (number one post), and an unprecedented strong influencer (top two EMV per post),” said Annika Baer, marketing manager at Lefty.
This summer’s Barbie craze for the movie “Barbie” is another force that has dominated the fashion industry this year. Alison Bringé, Launchmetrics’s chief marketing officer, said that in July alone, the film’s MIV revenue reached $0.474 billion, more than major fashion weeks. Brands have benefited from the Barbie effect: for example, in July, when the movie was released, Birkenstock received $34.1 million in MIV, up 28% from the previous month.
Photograph: Wiktor Szymanowicz/Getty Images
In addition, from Beyonce’s Renaissance Renaissance tour to Madonna’s The Celebration Tour Celebration Tour and Taylor Swift’s The ERas Tour era tour, the concert became the perfect stage for the brand to attract the attention of millions of people, generate unparalleled exposure, and strengthen the brand’s image in the hearts of loyal fans and the public at large.
Beyonce’s Renaissance tour earned a total of $0.187 billion on MIV, and brands such as Tiffany, Balmain and Valentino have effectively used the stage to increase brand awareness ($7.2 million, $5.6 million and $3.7 million, respectively). Swift’s ERas tour generated $97.5 million, Versace $6.3 million in MIV, followed by Roberto Cavalli Couture ($4.9 million) and Zuhair Murad Couture ($2.3 million).
Photograph: KEVIN MAZUR, Getty Images
Expect luxury fashion brands to continue to work with the entertainment industry to build a broader and lasting impact, and vice versa. “Brands have succeeded in seamlessly combining marketing with cultural prestige, creating a direct emotional connection with audiences that blurs the lines between communication and entertainment,” said Bringé.
# Destination Fashion Show Continues to Climax
Destination shows are back in full this year after the pandemic paused and have proved that the brand’s heavy investment here is worth it. According to Lefty, five of the top 15 shows (in terms of EMV) this year are destination shows, namely Gucci, Boss, Versace and Max Mara shows in Seoul, Miami, Cannes and Stockholm. The EMV generated is significantly higher than its regular SS24 fashion show.
Photo by Carlo Scarpato/Gorunway.com, Hugo Boss, Salvatore Dragone/Gorunway.com, Max Mara
Experts expect brands to still be more creative next year when choosing host countries for big shows. While the destination show may not be the most effective way to showcase a new collection, it is guaranteed to catch the eye and help brands escape the hustle and bustle of fashion month.
“Destination shows are more influential because the engagement of invited influencers tends to be three times as high as normal (4.4 posts per influencer for Destination shows, compared to 1.6 posts per influencer for big shows during Fashion Week),” Baer said. “This may be because these big shows are one-off and quite unique, so participants are more willing to share content about them.”
Baer believes that influential Internet celebrities play a vital role in promoting the destination show, which has attracted many brands to Asia, and local celebrities have helped drive the hype. The annual EMV’s top three destination shows-Louis Vuitton Seoul Early Autumn Women’s Wear Show, Gucci Seoul Early Autumn Series Show and Louis Vuitton Early Autumn Men’s Wear Hong Kong Show-are all held in Asia. Celebrities from all over Asia attended the Louis Vuitton show in Hong Kong, including local actors Chow Yun-Fat and Lin Jiaxin, South Korea pop star and Stray Kids brand ambassador Felix, and Chinese actor Wang Hedi. Dior is expected to hold an early autumn menswear show in Hong Kong in the first quarter of 2024.
Photograph: VCG/Getty Images
“Most invited online influencers are local, and the typical participation rate for Asian influencers tends to be four to five times that of their Western counterparts, which explains why these shows are so influential,” Baer said.
# The rise of Asia-Pacific celebrity influence
This year, the star power of Asia-Pacific influencers is clearly visible. Brands are stepping up their push into China and the rest of Asia; HSBC estimates that the market is expected to grow by 5.5 per cent and 20 per cent, respectively, by 2024.
South Korea pop music still dominates in 2023. Prada’s spring/summer 2024 women’s clothing show is the fifth most coveted fashion show of the year: according to Lefty, the brand’s EMV soared from $25 million to $42 million during autumn/winter 2023 and spring/summer 2024. Lefty attributes the surge in part to the presence of South Korea pop band Enhypen, who were announced as brand ambassadors for Prada in June. The brand also received a $11 million EMV when they took part in the Milan SS24 show.
Photograph: Jacopo M. Raule/Getty Images
Felix Lee, another South Korea pop star in the band Stray Kids, is an important growth driver for the Louis Vuitton MIV. In the two weeks after the brand announced the appointment of a global brand ambassador, the conversation about the appointment generated a total of $4.5 million in revenue.
This year, talent from Southeast Asia has also received more attention. In July, Balenciaga appointed Thai actor and singer Krit Amnuaydechkorn as a brand ambassador. Dior also named Thai actors Nattawin Wattanagitiphat(Apo) and Phakphum Romsaithong(Mile) as new faces in June, a move that paid off effectively. Dior’s SS24 women’s show took second place in EMV, thanks to the presence of Apo and Mile and Blackpink star Jisoo.
Photograph: Olga Gasnier/Getty Images
Looking ahead, 2024 is destined to be the year when athletes prepare for the Paris Olympics. As early as the Spring/Summer 2024 Men’s Wear Week, the front row of sports talents in Paris and Milan has increased significantly. With the Olympic Games in Paris taking place from July 26 to August 11, 2024, just a month away from Paris Men’s Wear Week (June 18-23), we can expect the link between fashion and sport to reach new and unprecedented heights.
(Source: Vogue Business)
