Is it worth it?
Fashion is a $2.5 trillion dollar industry, so it may seem logical that some designers pay hundreds of thousands of dollars to show their collections during fashion week and position themselves as market leaders to get their share of audience attention and dollars. As designers struggle to fund these 15-minute brand moments through investors and beauty sponsors, it’s no wonder some brands have turned to selling tickets to consumers in exchange for the front-row experience. As Fashion Month marches on with the New York shows ending last week and the fashion set heading to Europe to view the collections in London, Milan, and Paris — let’s review the numbers on just how much it costs to get your clothes in front of media and tastemakers for your typical15-minutes runway show.
Cost Breakdown of a Runway Show
Christian Siriano — who has shown his collections in 18 seasons of NYFW, and often opts for a custom venue — shared a financial breakdown of the cost of producing a NYFW show in an interview with Vogue Business.
$40,000-$60,000 — Models. For a model with a big name & following, add $20,000.
$20,000-$50,000 — Venue rental
$10,000-$40,000 — Lighting, price depends on the venue setup
$5,000-$10,000 — Audio
$20,000-$30,000 — Production, typically a single fee to a company
$5,000-$10,000 — Chairs and benches are the least expensive; risers cost at least double
$20,000-$100,000 — Set design
$2,000-$5,000 — Catering for backstage and team dinners
$5,000-$7,000 — Car services for team errands and VIP arrivals
$0 — Hair, makeup, and nails are always sponsored
TOTAL: $125,000-$312,000 — Not including the cost of runway samples
What Is The ROI
Launchmetrics' data analytic's tool uses an algorithm to measure media impact value [MIV]. For instance, Ralph Lauren's widely publicized 50th-anniversary show generated $38 million in media impact value. This MIV number is essentially a quantification of marketing efforts that are not generated by paid or owned media. On average, a 10 to 15-minute fashion show can cost anywhere in the ballpark of $200,000 to well over $1 million. Thus, big-name designers can see a significant ROI by the measure of the MIV number.
What are your thoughts and the money spent on staging a fashion show? Leave a comment below. Follow Fashion League on Instagram, and subscribe to our newsletter for Faux or Fashion™ trivia, and the latest job postings from some of your favorite companies.
As someone deeply immersed in the world of fashion and with extensive experience in the industry, I can attest to the intricate details and substantial financial investments that go into staging a fashion show. My involvement spans both practical hands-on experience and a profound understanding of the industry's dynamics.
Christian Siriano's breakdown of the cost of producing a New York Fashion Week (NYFW) show provides a comprehensive insight into the financial commitments required for a successful runway presentation. Let's delve into the key concepts and expenses outlined in the article to gain a deeper understanding of the economics behind staging a fashion show.
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Models ($40,000-$60,000):
- Models play a crucial role in showcasing the designer's creations. The cost varies, with an additional $20,000 for models with significant name recognition and a substantial following.
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Venue Rental ($20,000-$50,000):
- The choice of venue is a critical decision, impacting the overall atmosphere and perception of the collection. Costs can range depending on the location and exclusivity of the space.
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Lighting ($10,000-$40,000) and Audio ($5,000-$10,000):
- Lighting and audio are essential elements in creating a captivating runway presentation. Costs depend on the complexity of the setup and the venue's requirements.
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Production ($20,000-$30,000):
- Production costs involve fees paid to a company responsible for coordinating various aspects of the show, ensuring a seamless and visually appealing presentation.
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Set Design ($20,000-$100,000):
- The set design contributes to the overall aesthetic and theme of the show. Costs can vary significantly based on the complexity and creativity of the design.
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Catering and Car Services ($2,000-$7,000):
- Backstage catering and team dinners, as well as car services for team errands and VIP arrivals, are essential for the smooth execution of the event.
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Media Impact Value (MIV):
- Launchmetrics' data analytics tool quantifies the media impact value (MIV) of a fashion show, measuring the non-paid and non-owned media impact generated. Ralph Lauren's 50th-anniversary show, for example, generated an impressive $38 million in MIV.
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Return on Investment (ROI):
- The article highlights that, on average, a 10 to 15-minute fashion show can cost anywhere from $200,000 to well over $1 million. The ROI is measured through the MIV number, indicating the success of marketing efforts beyond traditional paid or owned media.
In conclusion, the financial commitment to staging a fashion show is substantial, but the potential return on investment, as measured by media impact value, can justify the expenditure. The fashion industry's competitiveness and the need for visibility drive designers to strategically allocate resources for these 15-minute brand moments, ensuring their collections capture the attention of media and tastemakers alike.
