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Sep 1, 2021
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Dior dominates global luxury power players ranking; Gucci climbs in China

Published
Sep 1, 2021

Dior has once again snatched first place in Launchmetrics’ quarterly list of the top power players in luxury fashion’s most important markets. The Paris-based couture house can’t rest on its laurels, though, as both Chanel and Gucci are snapping at its heels in China, at a moment when the country is leading the luxury sector’s post-pandemic recovery.


Dior took the top spot in Launchmetrics' MIV rankings again in the second quarter - Instagram: @dior

 
Covering the period from April to June, 2021, the ranking is based on Media Impact Value (MIV), which is calculated using Launchmetrics’ proprietary machine learning algorithm. This system assigns a monetary amount to each post, interaction and article in order to measure and compare the value of different brands’ marketing activities.
 
In the most recent quarterly report, Dior continued its streak at the top of the leader board, boasting MIV’s of $94.6 million in the U.S. and $250.2 million in Europe. In China, the brand’s MIV was $171.4 million, representing an increase of 24%.

Indeed, in a quarter when MIV growth was patchy at best in the U.S. and Europe, eight out of Launchmetrics’ top ten brands in China posted a double-digit increase in their figures. As pointed out by the report, due to the fact that the country is a step ahead in its economic recovery, “China continues to present the greatest opportunity for growth in the sector, leading luxury fashion brands in Europe and America to increase investment in marketing campaigns to reach Chinese consumers.”
 
One of the biggest quarterly gains in China was that of Gucci, which posted a 34.6% increase, achieving a total MIV of $109.1 million and taking third place in the country’s ranking. Second place was snapped up by Chanel with an MIV of $148.9 million, representing a 28% rise, while Louis Vuitton claimed fourth place with an MIV of $97.9 million.
 
Other top climbers in China included Hermès, which surfed into fifth place on the crest of a 33.5% increase that pushed its total MIV to $57 million, while Loewe rounded out the top ten with an MIV of $31.1 million, up 33.4%.
 
Fendi also saw a very respectable 22.8% rise in its MIV, which totaled $45.4 million and secured the brand eighth place in the Chinese ranking. The Italian label’s performance in the market was no doubt boosted by the fact that the single most valuable social media post tracked by Launchmetrics in China in the last quarter came from Hong Kong-based rapper Jackson Wang on behalf of the Roman luxury brand. Wang’s post alone generated $997,000 in MIV for Fendi.
 
Both Chanel and Gucci put in strong performances in the U.S. and Europe, as well. Chanel took second place in the European ranking with an MIV of $219.1 million, followed by Gucci with an MIV of $190.5 million. In the U.S., it was Gucci that slipped into second place with an MIV of $85 million, following a brief stint at the top of the chart in the first quarter. Chanel posted the third highest MIV in the country with a total of $79.3 million.
 
Louis Vuitton was fourth in both the U.S. and Europe, achieving an MIV of $69.9 million in America and a total of $169.7 million on the other side of the Atlantic. With an MIV of $108.3 million, Giorgio Armani took the number five spot in Europe, knocking Prada into sixth place. Prada experienced one of the most precipitous falls in MIV in the region, dropping 25.6% to $102.6 million.
 
The Milanese brand also took sixth place in the U.S., where it achieved an MIV of $47.9 million, coming in just behind Versace, whose MIV was rounded to the same figure. Similarly to Fendi in China, Versace was benefitted by the top social post in the U.S., which came from singer Dua Lipa, and contributed $1.22 million in MIV to the Italian luxury house.
 
In Europe, the quarter’s top social media post was made by Spanish actress Ester Expósito, who contributed an MIV of $1.29 million to New York-based Tom Ford’s total of $25.1 million in the region.


Jackson Wang's post for Fendi was the most valuable in China in the quarter - Photo: Fendi

 
Launchmetrics’ report also provided an update on the share of MIV represented by different voices and channels across the world’s top luxury markets. Media continues to be the strongest voice across all regions, representing 53.7%, 53% and 66% of total MIV in China, Europe and the U.S., respectively.
 
In China, influencers represent a relatively large share of overall voice, accounting for 34.6% of the country’s total MIV, compared to 12.3% in Europe and 17.9% in America. By contrast, owned media claims 28.8% of voice in Europe, significantly higher than 2.8% in the U.S. and 4.6% in China. In the United States, on the other hand, it’s celebrities who are responsible for a comparatively high share of MIV: 12.2%, as opposed to 6.6% in China and 4.3% in Europe.
 
Looking at specific social media channels, Launchmetrics further showed that Instagram continues to account for by far the largest share of MIV in Europe and the U.S., generating more than 80% of total value in both markets. MIV is more evenly spread over different social channels in China, where platforms including Weibo, WeChat, RED and Douyin contend for consumers’ attention.

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