The fashion landscape is shifting as Gen Z drives brands to innovate and rethink their strategies. Launchmetrics' latest data report reveals fascinating insights into how luxury, premium, and mass-market brands are responding to this dynamic generation.
Luxury Brands Embrace Gen Z
Luxury brands are experiencing significant growth, with the top 20 seeing a 69% increase in Media Impact Value (MIV) over the past three years. Dior, Chanel, Louis Vuitton, and Gucci maintain their top spots, while Prada edges into the top five. Loewe, under JW Anderson's creative direction, saw the most remarkable growth (+168%), thanks to its innovative designs like the SS 2023 collection’s faux flower bodice and balloon shoes, which captivated social media.
Brands to watch include Jacquemus and Schiaparelli, with MIV increases of 86% and 463%, respectively. Schiaparelli’s viral moments, featuring high-profile appearances by Kylie Jenner and Doja Cat, have garnered significant attention. Celine, Miu Miu, and Valentino also saw notable MIV growth, with Miu Miu leveraging Gen Z celebrities such as Sydney Sweeney and Emma Chamberlain for its SS24 collection.
Premium Brands Leverage Influencer Culture
Premium brands experienced the highest MIV growth, averaging 114%. Skims, founded by Kim Kardashian, leads with a 407% increase, highlighting the power of influencer marketing and inclusivity. American brands Calvin Klein and Coach remain top favorites among Gen Z, with Coach recognized as Gen Z's preferred handbag brand, boasting a $355M MIV in 2023.
Birkenstock capitalised on the comfort trend, rising to the eighth spot with a 149% MIV increase. Strategic collaborations with Dior and the Barbie movie have solidified its cult status among young consumers. Levi’s, attuned to sustainability and contemporary issues, climbed to the third spot, thanks to partnerships with Gen Z icons like Hailey Bieber, Jaden Smith, and Emma Chamberlain, infusing a fresh, trendy vibe into its classic denim.