L’Oréal Paris and CeraVe were the top beauty brands of the year thanks to their TikTok and influencer work, according to a report by agency Karla Otto and influencer marketing company, Lefty.
2023: A Year in Data analyses the best performing events, businesses and creators across fashion, beauty, lifestyle and jewellery by calculating overall engagement and earned media value (EMV). EMV was the “equivalent ad spend of the impressions gained”.
CeraVe was named one of the fastest-growing brands with an EMV of US $61 million (£48.4 million) on TikTok and US $9.2 million (£7.3 million) on Instagram. It saw 899% growth. Tapping macro influencers for TikTok campaigns, the skincare company worked with US TikToker Charli D’Amelio and UK creators such as Max Balegde and Danielle Marcan.
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L’Oréal Paris’ EMV was US $676 million (£537.2 million) on TikTok and US $38.5 million (£30.5 million) on Instagram. Its brand activation during the Spring/Summer 2024 fashion month (its runway show in Paris featured model and ambassador Kendall Jenner) generated more than 30% of its total EMV. One of its best performing TikTok ads was by UK beauty creator Alice Thomas (Alicext), whose makeup tutorial has exceeded 2.8 million views.
The data analysis highlighted the power of celebrities and how this contributes to businesses’ growth. Bulgari had the top activation of the year due to its Mediterranea High Jewellery event. Zendaya, Anne Hathaway and Blackpink’s Lisa attended the runway show and dinner in Venice, Italy in May. The event achieved an EMV of US $36.9 million (£29.3 million) and had an 8.9% engagement rate.
@sofiarichiegrainge Practice makes perfect
Interestingly, Bottega Veneta was the fastest-growing fashion label, although it doesn’t have a social media presence – the private fan account New Bottega has more than 1.3 million Instagram followers. Still, the Italian luxury brand’s EMV totalled US $12 million (£9.5 million) and saw 1,048% growth. Berlin-based label Ottolinger was the report’s top emerging company and had a growth rate of 1,450%. Musicians Tyga and Aespa’s Giselle attended its Spring/Summer 2024 show.
US socialite Sofia Richie Grainge was creator of the year and had an average engagement rate of 3.8%. She became TikTok’s newest It Girl due to her highly-publicised wedding in France in April and her interpretation of the “old money” and “quiet luxury” aesthetics. The report estimated she contributed US $6.7 million (£5.3 million) EMV for Chanel (she wore three custom looks at her nuptials) and US $2.6 million (£2 million) for Hourglass Cosmetics.
By Caroline Edwards, news and features writer for CORQ.
