A big brand needs a big presence and Versace's partnership with the Hadid sisters has brought big things to both. A new analysis shows that Gigi and her sister Bella accounted for 45 percent of Versace's media impact value at its Fall 2021 fashion show. By comparison, runway veterans Mica Argañaraz and Rianne Van Rompaey were responsible for 2 percent.
Alison Bringé, chief marketing officer of the data research and insights company Launchmetrics, addressed this at Zoom press conference. According to the metrics executive, “You need to think about who are those talents who connect with your consumers.”
Analysis by Bringé didn't end there as she pointed out a conclusion that most might assume but sounds better when presented with data behind it - newsworthy names can be responsible for a larger impact that a brand has on social media posts. Between envy and FOMO (fear of missing out), consumers flock to these posts and it makes the products within seem all the more enticing.
To illustrate this point, Launchmetrics calculated three posts by Gigi Hadid regarding the Versace show and determined that it generated a Market Impact Value of $3.3 million on its own. When it was then amplified by others through likes, comments, and shares, the company found the posts reached an astounding MIV of $7.1 million.
“She’s become a standout face and name within our industry,” Bringé pointed out.
With the Hadid sisters leading the charge, analysts determined that the influencer effect was in full bloom as the the impact famous voices had one market growth jumped 13 percent. For celebrities, the jump during Milan Fashion Week was even more substantial with a mind-boggling 394 percent.
All of these recent shows and their social media boosts also spotlighted the growing importance Asian influencers and celebrities hold in the market value department, with 29 percent of total MIV. Some brands saw on even bigger boost with Prada getting a 70 percent of MIV from Asian celebrities. earned by celebrities came from Asian voices.
Traditional media faltered in comparison by seeing its voice value drop 22 percent during fashion weeks. According to Launchmetrics, the blame is on “media fatigue” along with a a dilapidated stream of original content being put out by typical sources.
“There’s a lot of ways to create echo around videos post-fashion week,” Bringé stressed when viewing the numbers. “Content is king no matter if it’s a physical or a digital event.”
Sources: WWD, Launchmetrics