New Luxury Marketing Report: Athlete Influencers Win Big for Luxury Brands in 2024
SAN FRANCISCO (March 21, 2024) – Traackr, the leading performance-driven influencer marketing platform, today released a new luxury marketing report in partnership with luxury competitive data platform, Luxurynsight, on the luxury trends to watch in 2024. Based on intelligence from both the Traackr and LY Watch platforms, “Global Luxury Brand Analysis 2023” details key trends and activations by luxury brands in fashion and leather goods; perfume and cosmetics; and watches and jewelry.
Professional athletes, among the earliest influencers, have consistently represented the faces and personalities of numerous brands. With influencer marketing claiming a larger portion of marketing budgets and all eyes on the 2024 Summer Olympics in Paris, athletes are expanding their influential impact through collaborations with luxury brands. Partnerships with trusted professional athletes not only enhance sales but also foster a deeper, more meaningful connection between products and consumers.
Notably, Christian Dior partnered with tennis champion Emma Raducanu as the face of its new Lady 95.22 bag. She posted about Dior on her Instagram throughout the year, sharing life moments alongside the brand. According to Traackr data, 17 mentions on her Instagram feed and Stories generated over 1.1 million engagements and over 40 million impressions for Dior in 2023.
“The collaboration between athletes and luxury houses became a powerful marketing alliance,” said Jonathan Siboni, Luxurynsight CEO and co-founder. “Luxury brands have always benefited from athletes' global reach and authenticity, as we have seen for years in Watches. These partnerships have now spread to more categories to enhance brand visibility to younger audiences and even spark innovation / exclusive product lines, especially in a pre-Olympic period.”
The report also reveals the top brands and influencers in each category by Brand Vitality Score (VIT), Traackr’s proprietary metric for measuring influencer marketing performance:
- Fashion & Leather Goods: Christian Dior Couture, Chanel and Louis Vuitton earned the highest VIT in 2023, with Kim Kardashian and Zendaya driving the most VIT for Louis Vuitton and Paris Hilton driving the most for Chanel. Instagram remains the top platform for influencer content, with VIP influencers (+5 million followers) like celebrities earning the biggest portion of VIT for brands.
- Perfume & Cosmetics: L’Oréal Paris, Fenty Beauty and MAC Cosmetics earned the highest VIT in 2023, with Lena Bagrowska driving the most VIT for Benefit Cosmetics, Zendaya for Lancôme and both Zendaya and Rihanna for Fenty Beauty. TikTok has grown 11 VIT points to become the top platform for perfume and cosmetics, with mega (1-5 million followers) and macro (250k to 1 million followers) influencers earning the most VIT for brands.
- Watches & Jewelry: Tiffany & Co, Bulgari and Rolex earned the highest VIT in 2023, with Zendaya driving the most VIT for Bulgari, Roman Sharf for Rolex and Jenna Ortega for Tiffany & Co. Instagram is the leading platform for influencer content, with VIT still growing on the platform, and VIP influencers earning the most VIT for brands.
“While VIPs and celebrities still move the needle for luxury brands, we’re seeing more fashion and beauty brands diversify the tiers of influencers with whom they partner,” said Pierre-Loïc Assayag, CEO and co-founder, Traackr. “VIPs are known to raise awareness for brands, but mega and macro tiers are the fastest growing segments of influencers that outperform in engagement and sales. We’ll likely see luxury brands start to experiment with other tiers in 2024 to enhance their ongoing celebrity partnerships.”
To read and download the full report with additional insights, visit www.traackr.com/resources/traackr-luxurynsight-luxury-marketing-report. To learn more about Traackr, visit http://www.traackr.com.
About Traackr
Traackr is the all-in-one influencer marketing platform that helps organizations build performance-driven programs on a global scale. The platform enables marketers to optimize spend, unify data, streamline processes, standardize measurement, and ensure compliance. Traackr powers the most advanced influencer marketing programs in the world for brands including L'Oréal, Tiffany & Co, Pandora, Diageo and Samsung. Traackr has hubs in San Francisco, New York, Boston, London, Paris and Singapore. Learn more at www.traackr.com.
Media contact:
Heather Sliwinski
Changemaker Communications for Traackr
847-722-0293