The Cannes Film Festival, one of the most prestigious and highly anticipated events in the global film industry, concluded its 76th edition last month. Held annually in the French Riviera, the festival brings together filmmakers, actors, industry professionals, and celebrities from around the world. Celebrating the art of cinema, the Cannes Film Festival mesmerises audiences not only with its cinematography but also with fashion and luxury enthusiasts.
The Festival, renowned worldwide for its celebration of the art of cinema, has in tandem, became an influential platform for fashion and beauty brands seeking to make a strong impression in the industry. With its glamorous setting, global audience, and the presence of celebrities, influencers, and industry professionals, the festival offers a unique opportunity for brands exposure where culture emerged as a new form of luxury. Stunning gowns and exquisite jewelry have become essential elements, especially since the esteemed jeweler Chopard revamped the festival’s most prestigious award, the Palme d’Or, in 1998.
To further understand the power of the Festival de Cannes for fashion and beauty brands, we have undertaken a comprehensive analysis of the strategies employed by top brands and the consequential impact of their presence during the event. Thanks to our proprietary algorithm called Media Impact Value™ (MIV®), we have measured the impact that the event has generated for featured brands. Serving as a global platform that celebrates exceptional filmmaking talent, Cannes has become a prime opportunity for brands to garner exposure among a diverse audience, culminating in an impressive total of $1.3Billion in MIV® this season alone.
In this article, we will examine the performance of brands at the Cannes Film Festival, featuring our Top 5 Performing Brands Ranking, highlighting the brands that generated the highest MIV®. Additionally, we will explore the top Voices and placements that garnered the utmost MIV® from the event.
In this article you’ll learn…
The Top 5 Performing Brands at the Cannes Film Festival 2023
Opportunities of the Cannes Film Festival: A Gateway for Fashion and Luxury Brands
The Cannes Film Festival presents an unparalleled opportunity for fashion and luxury brands to shine on a global stage. With its far-reaching influence and immense prestige, the festival serves as the perfect platform for these brands to showcase their products and align themselves with the world of glamour. The international media attention surrounding the event generates a significant buzz, catapulting the brands involved to new heights. The festival offers a gateway to increased brand recognition, loyalty, and ultimately, business growth.
Harnessing the Power of Celebrity Endorsements:
One of the most effective strategies employed by fashion and beauty brands at the Cannes Film Festival is celebrity endorsements. By dressing influential celebrities and showcasing their products on the red carpet, brands generate substantial exposure and garner significant media coverage. While influencers have dominated the realm of social media, celebrities have witnessed a remarkable surge in MIV®, experiencing a 90% increase compared to the previous year. This resurgence has allowed celebrities to close the gap and elevate their involvement in the event.
In fact, celebrities have secured all the top 10 placements, asserting their dominance in driving brand visibility and engagement. While Media Voices dominate the top 10, one celebrity, Urvashi Rautela, managed to secure a prominent spot among the influential Voices. As a renowned celebrity, Urvashi Rautela proved to be an unstoppable Voice at Cannes, generating $11.9 million in MIV®, solidifying her status as a powerhouse presence during the festival.
Seizing Prime Placement Opportunities:
The Cannes Film Festival, being an event strongly related to fashion, has witnessed the significant impact of Korean celebrities on the industry, with fashion brands leveraging their influence. Korean singer, Jennie emerged as the top placement during the event, generating a remarkable MIV® of $1.9 million, showcasing the immense power of her voice. Furthermore, her overall MIV® around the event reached $6.7 million, with Chanel being her most frequently mentioned brand, although half of their placements occurred organically.
Leveraging The Influencer Phenomenon:
Victoria Bonya emerged as a dominant Voice during Cannes, generating $3.1 million in MIV®. With her captivating presence and influential status, Victoria Bonya captivated audiences and generated significant buzz for the brands she featured on her Instagram. Her innate ability to captivate attention and her immense social media following contributed to her remarkable MIV®, solidifying her position as a top Influencer at the Cannes Film Festival.
Forging Exclusive Collaborations:
Exclusive collaborations between fashion and beauty brands, designers, and celebrities are another effective strategy that w’re seeing during the event. These collaborations generate excitement among consumers as they appear more organic, elevating the desirability and perceived value of the brand. For example, the collaboration between L’Oréal and celebrity, Georgina Rodriguez generated $1.2 million in MIV®, showcasing the power of such partnerships.
Capitalizing on Global Audiences:
The Cannes Film Festival attracts attendees and viewers from around the world, positioning itself as an ideal platform for fashion and beauty brands to reach a diverse global audience. The festival’s prominence in countries like India, as indicated by the highest MIV® of $256.7 million, underscores the festival’s international appeal and highlighting the immense potential for brands to penetrate new markets and engage with different consumer segments.
India continues to lead the country ranking, with incredible media coverage that contributes to almost 22% of the total MIV®. The strong presence of Indian celebrities further amplifies this influence, such as Urvashi Rautela, Karenjit Kaur Vohra (Sunny Leone),Mrunal Thakur and others featured among the top celebrity Voices for the event. Their participation reinforces the global resonance of Cannes, particularly in captivating Indian audiences and cultivating brand interest in this thriving market.
Dua Lipa and Versace ‘La Vacanza’’s Dominates Cannes: A Fashion Spectacle That Ignites the Festival’s Launchpad
The Cannes Film Festival continues to elevate its status as the premier platform and an increasingly important launchpad for luxury brands to announce groundbreaking ventures.
Dua Lipa and Donatella Versace joined forces to co-design Versace’s latest collection, titled ‘La Vacanza’. Showcased amidst an exclusive event in Cannes, the star-studded show unveiled the highly anticipated line, marking a remarkable fusion of Dua Lipa’s distinctive style and Versace’s iconic aesthetic. The collection itself has garnered $24.7M in MIV® so far, with Dua Lipa herself contributing with $4.2M in MIV® garnered through 4 placements. The top placement by the celebrity was worth $1.2M in MIV®. This strategy demonstrates the power of the Cannes Film Festival as a catalyst for brand collaboration and groundbreaking success.
Additionally, Chopard unveiled its inaugural couture line alongside its renowned high jewelry presentation, a cherished tradition at Cannes since 2007. This showcases that Versace is not alone in capitalizing on the festival’s influential platform, as numerous brands seize the opportunity to present groundbreaking ventures and make a lasting impact on the global stage.
The Festival de Cannes and other film festivals present a powerful opportunity for fashion and beauty brands to elevate their visibility, reach new audiences, and strengthen their brand image. By leveraging strategies such as celebrity endorsements, exclusive collaborations, strategic product placements, and capitalizing on the festival’s global appeal, brands can further amplify their positioning and solidify their presence in the competitive market. To learn more, read our data brief below on how the Venice Film Festival present a big opportunity for brands on the red carpet.
By Céline SabbaghBrand Content Manager
Céline is passionate about the fashion industry and loves to create content, both written and visual. She is the Brand Content Manager at Launchmetrics and is always excited to delve into the fashion digital world that is shaping the industry of tomorrow.
