Luxury, premium and mass-market brands cater to Gen Z consumers

In the rapidly evolving world of fashion, Generation Z is proving to be a game changer, forcing luxury, premium and mass market brands to rethink their marketing strategies, according to the latest data report from Launchmetrics.

Luxury brands opt for strategies focused on Generation Z

The report highlighted how the top 20 luxury brands experienced an average Media Impact Value (MIV) growth of 69% over the past three years. In the top 20, Dior, Chanel, Louis Vuitton and Gucci remained in the top 5 compared to 2020, with Prada closing in to steal fifth position from Saint Lauren.

Loewe steals the show as the luxury brand with the fastest growth since the pandemic (+168%), from not even appearing in the ranking in 2020, to ranking 13th in 2023. Under the creative direction of JW Anderson, innovative designs , such as the artificial flower bodice and balloon shoes from the SS 2023 collection have captivated social media, fueling Loewe's rapid rise.

Although not in the top 20, Jacquemus and Schiaparelli were highlighted as brands to watch, with MIV increases of 86% and 463%, respectively. Schiaparelli, under the direction of Daniel Roseberry, has garnered attention for her viral fashion moments, including high-profile appearances by Kylie Jenner and Doja Cat.

Celine, Miu Miu and Valentino also saw significant increases in their MIV, growing by 151%, 141% and 109% respectively. In particular, Miu Miu has maintained its relevance by effectively tapping into Gen Z celebrities. The brand recently collaborated with influencers such as Sydney Sweeney and Emma Chamberlain for the SS24 collection.

Premium brands embrace influencer culture and inclusivity

Still, premium brands experienced the highest MIV growth since the pandemic, averaging 114% among the top 20. In particular, Skims, founded by Kim Kardashian, jumped to the top spot with a 407% increase, illustrating the power of influencer marketing and inclusivity.

American brands Calvin Klein and Coach returned to the top five in the premium market, compared to 2020, reflecting their strong appeal to Generation Z. Coach, in particular, has been recognized as the generation's favorite handbag brand. Generation Z, backed by its $355 million. MIV in 2023.

Birkenstock has also capitalized on the comfort trend, achieving a 149% increase in MIV and earning 8th place in 2023, up from 17th. The brand's strategic marketing moves, including collaborations with Dior and a timely partnership with the movie Barbie, they have cemented their status as a cult favorite among young consumers.

Levi's also moved up the rankings and took third place in 2023, staying in tune with contemporary issues and trends. In particular, the brand's focus on sustainability resonates with the environmental concerns of Gen Z. Collaborations with Gen Z icons like Hailey Bieber and Jaden Smith, and more recently with Kenzo and Emma Chamberlain, have infused a fresh vibe and modern in classic Levi's denim, appealing to the fashion sensibilities of the younger generation.

Sportswear dominates mass market trends

Mass-market brands have also proven their appeal among Gen Z consumers, growing 62% since 2020, with sportswear brands leading the way.

Shein, in particular, stands out with a 237% increase in MIV, driven by the effective use of influencer marketing and celebrity partnerships. The brand was ranked #4 in 2023, up from #9 in 2020.

Nike continues to reign supreme among Gen Z consumers, maintaining its number one position in the mass market segment. The brand's focus on influencer marketing has resulted in 90% growth in MIV, underscoring the importance of this strategy in connecting with younger audiences.

Over the past three years, Crocs has also managed to transform itself from a practical shoe to a bold fashion statement embraced by Generation Z. This shift reflects a broader trend of fusing comfort with style, appealing to the younger generation's desire for options. unique and expressive fashion.

Other mass-market brands that have seen notable increases in MIV in recent years include Converse (+196%), New Balance (+131%), and Uniqlo (+207%).

Generation Z influencers and celebrities

Still, connecting with Generation Z isn't just about tapping into their values; It's also about collaborating with the right voices that resonate with your time and culture. The top 20 Gen Z influencers have had a profound impact in 2023, driving fashion trends and brand engagement.

Among them, French influencer Léna Mahfouf has captured global attention for her dynamic content and relatable personality. Over the past three years, she has seen a remarkable 272% increase in MIV, reaching an impressive $67 million in 2023. Léna's ability to create viral content was on display during the Cannes Film Festival, where only eight Instagram posts generated more than $4.2 million in MIV. . Kylie Jenner was also recognized as one of the top influencers of Generation Z, generating $63 million in 2023.

The celebrity landscape saw a notable shift towards the Asia-Pacific (APAC) region in 2023, with K-pop groups such as NCT, New Jeans and Enhypen securing top spots in global rankings. This trend highlights the immense influence of Korean pop culture on fashion, underscoring the global appeal of K-pop music and performances.

Among top celebrities, Avneet Kaur was recognized for making $97 million in 2023, along with names like Dua Lipa, Becky G, and Dwayne Johnson, who made the top 20.