Once again, Paris women’s ready-to-wear fashion week has affirmed its status as the premier global fashion event, captivating a worldwide audience. The media impact of the Spring/Summer 2024 runway shows in Paris, held from September 25 to October 3, has seen an impressive 30% annual growth, as per the latest report from marketing analytics specialist Launchmetrics. Paris’s fashion shows have emerged as the most widely followed globally, amassing nearly 160,000 looks downloaded—an astonishing 64% increase from the previous year. In contrast, Milan registered 100,000 looks, New York fewer than 80,000, and London slightly over 40,000.
Paris Fashion Week’s Media Impact Value (MIV) has surged from $384.4 million in September 2022 to an extraordinary $499 million in September this year. Pascal Morand, Executive President of the French Fashion and Haute Couture Federation, attributes Paris’s dominance to its official calendar, encompassing all the top fashion and luxury names, along with the robust international presence of leading labels. Paris Fashion Week has truly evolved into a cultural phenomenon.
The exponential growth of Paris’s fashion influence can be largely attributed to the burgeoning power of social media, surpassing traditional web channels. Instagram has taken the lead, contributing a substantial $269.1 million to Paris Fashion Week’s MIV, equating to 53.9% of the MIV generated by digital media. Instagram’s share is three times greater than that of traditional web channels, although the latter still holds the second most important channel with a 17.5% MIV share during the event.
TikTok has made a significant breakthrough with a remarkable 172% annual MIV growth. As Morand points out, we have entered a new era where social media creates instant experiences, while printed press is valued for content quality and credibility.
Another noteworthy observation is the increasing influence of labels’ social media channels, with the average MIV for Spring/Summer 2024 growing by 32%. Labels have become more professional, focusing on their social media channels and becoming more effective in their posts and content.
Fashion labels are also targeting celebrities to leverage the media hype and visibility they bring to their brands on social media. At the latest Paris Fashion Week, the MIV of celebrities skyrocketed, growing by 93% from $32.9 million to $63.6 million annually.
The share of MIV generated by various social media channels has shifted, with celebrities posting a noticeable increase, accounting for 12.8% of MIV at the latest Paris women’s wear week. This was close behind the share of labels’ social media (13%) and that of influencers, which decreased significantly (14.1% this year compared to 18.9% in September 2022). Traditional media still commands the largest share, with 57% of MIV, up from 55.5% the previous year.
From a regional perspective, the appeal of Paris Fashion Week knows no boundaries. Asia-Pacific, in particular, stood out, with its celebrities generating 203% more MIV at the last edition compared to European celebrities. India, in particular, is emerging as the epicenter of luxury fashion, experiencing exponential growth with a 225% increase in MIV compared to the Spring/Summer 2023 season. Japan also performed strongly with a 173% growth, and Thailand unexpectedly took the top spot globally in terms of MIV generated by celebrities.
Christian Dior claimed the top spot in Launchmetrics’ ranking of the 20 most popular labels at the latest edition of Paris Fashion Week, with an impressive MIV of $59.5 million—a 71% increase from the previous year’s summer session. Louis Vuitton, another powerhouse from the LVMH group, jumped from 4th to 2nd place with an MIV of $38.2 million, up by 74%, driven by the influence of South Korea’s K-Pop stars. Miu Miu also joined the ranking’s podium for the first time, with an MIV of $24.7 million, representing a significant 45% increase.
