BoF Insights, The Business of Fashion’s data and analysis think tank, held an event on the recently launched The BoF Brand Magic Index on Thursday evening at The Twenty Two in London, bringing together leading executives and decision makers from across the fashion, beauty and luxury industries.
Hosted by The Business of Fashion’s managing director of North America & head of BoF Insights Rahul Malik and led by BoF Insights director of research and analysis Diana Lee and associate director Anushka Challawala, the event explored the key findings from The BoF Brand Magic Index.
Brand Magic is a quantifiable and trackable metric developed in conjunction with Quilt.AI, an artificial intelligence (AI) company that uses proprietary machine learning algorithms to evaluate brand and user-generated content on social media. The Index used Brand Magic to evaluate the marketing of 50 global luxury and fashion brands. Brand Magic marks BoF’s first foray into using AI — in this case, to support brands in deeply understanding marketing spend and efficacy.
The presentation covered why Brand Magic is a differentiated tool in today’s competitive landscape by offering an objective way to evaluate how closely customer perceptions of a brand align with a brand’s own narrative. The presenters discussed the methodology behind The Brand Magic Index, including unpicking the performance of major players like Miu Miu, Giorgio Armani, Boss, Fendi and Gucci.
The presentation was followed by a cocktail reception with executives from Burberry, Chanel, De Beers, Jimmy Choo, Mulberry, Ralph Lauren, Tapestry, Ganni, Depop, Lyst and Nichebox, among others, in attendance.
About BoF Insights
BoF Insights brings together the analytical rigour of a strategy consultancy with the cultural intuition of a creative agency. We advise leading brands and retailers on their most pressing strategic questions, using our unparalleled market access and vantage point to provide differentiated customer insights and channel and product strategies. The BoF Brand Magic Index is an example of BoF Insights’ unique capabilities.
If you are interested in working with BoF Insights on Brand Magic or other topics, please reach out to [email protected] or Matthew Cullen at [email protected].
