The COMPASS Index for Q1 2024 is finally out – and there are some surprises!
Louis Vuitton takes the top spot this quarter for the first time since we began tracking the index at the start of 2023. Dior has typically been the top brand, thanks in large part to its significant presence as a brand in both fashion/leather goods as well as perfume/cosmetics. LV had its most significant performance through its release of longer form fashion shows on Douyin generating significant interest (presumably boosted by the uplift of the Hong Kong fashion show in December 2023).
Gucci rose two places up to second, returning to the spot it held in Q2 2023. This was in large part due to the success of the Ancora campaign across China and the engagement it generated both for the brand directly and consumers talking about the event.
The first of the big surprises is Lacoste. On the more premium end of the price scale of the brands included in our ranking, the brand announced celebrity Wang Yibo as its brand ambassador in March generating a huge uplift in engagement across all platforms.
Furla is the biggest riser in the ranking this quarter – moving from 60th position up to 11th. The announcement of Karry Wang (of TFBoys fame) proved a big boon to the brand both across social media as well as a reasonable uplift in eCommerce performance.
One the biggest fallers on the list is also perhaps a surprise – Hermès. One element driving the downturn is the recent opening of an official account on RED – upon opening an account on a new platform the starting engagement is low, leading to a low overall ranking. However, it is notable that the brand has also seen a downturn in UGC posts mentioning the brand across all platforms in Q1.
As part of the release of the index we have prepared a full deck that offers some overall trends for Q1, top risers and fallers, and case studies for key brands in our ranking (Lacoste, Furla, Versace, Tod’s, Givenchy, Bottega Veneta, Kenzo).
