How Luxury, premium, and mass market brands are adapting to Gen Z consumers

In the fast-paced world of fashion, Gen Z is proving to be a transformative force, pushing luxury, premium, and mass-market brands to reconsider their marketing strategies, as highlighted in the latest data report from Fashion Herald.

Media Impact Value (MIV) is a metric used to measure the impact of media exposure, combining both qualitative and quantitative aspects to assess the value generated from various media sources. For luxury brands, MIV is particularly crucial as it helps quantify the return on investment (ROI) from their marketing and PR efforts.

The report revealed that the top 20 luxury brands saw an average Media Impact Value (MIV) growth of 67% over the past three years. Dior, Chanel, Louis Vuitton, and Gucci maintained their positions in the top five, with Prada climbing up to replace Saint Laurent at fifth place.

Loewe emerged as the standout luxury brand with the most significant growth since the pandemic, boasting a 1.6 times increase in MIV. Previously unranked in 2020, Loewe skyrocketed to the 13th position in 2023. Under JW Anderson’s creative direction, innovative designs such as the faux flower bodice and balloon shoes from the SS 2023 collection have taken social media by storm, fueling Loewe’s rapid rise.

While not in the top 20, Jacquemus and Schiaparelli were identified as brands to watch, with impressive MIV increases of 82% and 478%, respectively. Schiaparelli, led by Daniel Roseberry, has captured significant attention with viral fashion moments, including high-profile appearances by Kylie Jenner and Doja Cat.

Celine, Miu Miu, and Valentino also experienced notable MIV growth, with increases of 150%, 140%, and 110%, respectively. Miu Miu, in particular, has maintained its relevance by effectively engaging Gen Z celebrities. The brand recently collaborated with influencers like Sydney Sweeney and Emma Chamberlain for the SS24 collection, highlighting its strategic use of social media and influencer partnerships.