The Parisian Women’s Ready-to-Wear Fashion Week confirms its leadership, attracting the attention and gaze of a global audience. The Spring-Summer 2024 shows, which took place from September 25 to October 3, have seen their media impact grow by 30% compared to last year, according to the latest report from Launchmetrics. The French capital takes the prize for the most sought-after shows with nearly 160,000 looks featured, an increase of 64% compared to last year, against nearly 100,000 for Milan, less than 80,000 for New York, and just over 40,000 for London.
In terms of Media Impact Value (MIV), which calculates the value of media coverage, the value of Paris Fashion Week has increased from $384.4 million in September 2022 to $499 million a year later. “The predominance of Paris is explained by the presence on the official calendar of the biggest fashion and luxury players, as well as by strong internationalization of the brands. Paris Fashion Week has become a true cultural event,” explained Pascal Morand, the executive president of the Federation of Haute Couture and Fashion, during an online conference.
This exponential growth has been driven particularly by the explosion of social media influence, which continues to gain ground compared to traditional online channels. Instagram takes the lion’s share with $269.1 million in MIV, accounting for 53.9% of all digital media. This network now weighs three times the traditional online channel, which, with a 17.5% share, remains the second most important channel in terms of MIV generated during Fashion Week.
TikTok has also made a remarkable breakthrough with a 172% increase in the value of its media impact. “We have entered a new era in which social media guides immediate experience, while print media plays a separate role, recognized more for its quality content and credibility,” commented Pascal Morand.
Another observation is the increasing importance of brand social media platforms, which have seen an average MIV increase of 32% for this Spring-Summer 2024 season. “Brands have become more professional, focusing more on their own networks, demonstrating ever more effectiveness in their posts and content,” note the webinar participants.
Furthermore, brands increasingly target celebrities, who allow them to benefit from the media hype generated by specific personalities, as well as the visibility offered by these celebrities on their own social media platforms. During the last Fashion Week, the MIV of celebrities increased by 93%, from $32.9 million to $63.6 million in one year.
In this context, the weight of different networks has evolved, with a notable increase in the share of celebrities, which account for 12.8% (compared to 8.6% last year) of the total performance recorded during this women’s fashion week in terms of MIV. Celebrities closely follow the brands’ own social media platforms (13% compared to 13.6% a year ago), as well as influencers, whose share has significantly reduced (14.1% compared to 18.9% in September 2022). Other partners account for 3.1% in terms of MIV, compared to 3.5% a year earlier, while traditional media retains a predominant position (57% in MIV value compared to 55.5% last year).
Finally, from a geographical perspective, the attraction to Paris appears to transcend borders. The women’s fashion week saw the Asia-Pacific region stand out, with Asian celebrities generating 203% more MIV value compared to European celebrities. “India, in particular, is becoming the epicenter of luxury fashion, and this transformation is leading to exponential growth in the region, resulting in a significant 225% increase in MIV compared to the Spring-Summer 2023 season,” noted Launchmetrics, which also highlighted the strong performances of Japan (+173% MIV value) and Thailand, “ranking 3rd in terms of growth in the Asia-Pacific region and surprisingly 1st globally in terms of MIV generated by celebrities.”
At the top of Launchmetrics’ ranking of the twenty most popular brands from the latest Paris Fashion Week is Christian Dior, with an MIV value of $59.5 million, representing a 71% increase compared to the previous summer session. The LVMH star brand notably relied on Thai celebrities like Nattawin Wattanagitiphat and Phakphum Romsaithong. Louis Vuitton follows suit, moving from 4th to 2nd place with an MIV value of $38.2 million (+74%), driven by South Korean K-Pop stars. Miu Miu also enters the top 3 for the first time, with an MIV value of $24.7 million (+45%).
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