Gucci tops inaugural Cultural Currency Index

Italian fashion house Gucci has topped the first-ever Cultural Currency Index (CCI)_ a new social-first data-based model created to quantify how cultural engagement translates into measurable market momentum.

The index from Annex_ the analytics-driven brand consultancy co-founded by Miah Sullivan_ former global chief marketing officer and longtime fashion industry executive_ was built in collaboration with AI-powered creator and social intelligence platform WeArisma.

Developed over two years_ the CCI aims to give brands “an empirical readout of how social_ search and site traffic activity correspond with real economic indicators_ from consumer demand to share-price performance”.

The beta release assessed twenty fashion companies showing at Milan Fashion Week spring/summer 2026 season_ and drew data from 11 platforms_ including Instagram_ TikTok_ YouTube_ Facebook_ Weibo_ Douyin_ RED (Xiaohongshu)_ Google_ Baidu_ Similarweb_ and Yahoo!Finance. It scored brands across three pillars: brand involvement_ measuring social and economic velocity_ including media value from brand and creator content_ as well as organic_ untagged conversations; brand popularity_ which evaluated engagement rates with dynamically weighted views_ from a brand perspective and a creator perspective; and purchase intent_ capturing future demand potential by blending follower growth_ site traffic and shopping-related search activity on Google and Baidu.

Each brand was assessed during 10 days before Milan Fashion Week and 10 days during the event_ three days before the show and six days after. They then each received a normalised score between 0 and 100_ designed to allow comparison across seasons and markets.

Cultural Currency Index (CCI) built in collaboration with WeArisma

The Kering-owned brand Gucci was ranked first in the inaugural index_ with 100 points_ for “ripping up the rulebook_” with its cinematic activation_ which the CCI noted “generated exceptional engagement and search activity”. Gucci was followed by Fendi_ with 92.9 points for its activation of key Asian creators_ “proved how targeted cultural strategy can translate into measurable intent_” while Bottega Veneta in third spot with 88.9 points_ showed “balanced strength across all three pillars.

Rounding off the top ten brand positions were Prada_ The Attico_ Dolce & Gabbana_ Boss_ Jil Sander_ Tod_s and Max Mara. It is also worth noting that out of respect for Giorgio Armani_s passing_ his memorial show was not assessed this season.

In the report_ Sullivan states that her new index was created to challenge media value_ which she describes as a “blunt instrument_” which rewards spend over strategy_ volume over impact_ and activity over outcomes.

“For too long_ our industry has leaned on Media Value (MV) as a proxy for success_” explains Sullivan. “It does not reveal which brands are using their resources most intelligently_ nor does it highlight those building the strongest foundation for future revenue. The landscape has shifted. Boards and investors now demand marketing metrics that demonstrate direct links to business performance.”

Sullivan notes that the CCI is not just another ranking_ but rather a “lens for evaluating brand performance_ one that measures how effectively a brand converts strategy into cultural heat_ and how that heat signals future revenue growth and purchase intent”.

Gucci's digital-first presentation of The Tiger generated exceptional engagement and search activity

For Gucci_ the SS26 showcase was described by the CCI as a “masterclass in digital domination_” as the Italian fashion house looked to mark a new phase under the creative directorship of Demna. By replacing the traditional runway with a surprise digital drop and a simultaneous film premiere in Milan and Shanghai_ the brand achieved immediate global reach and a seamless bridge between hype and commerce_ which was boosted by a see now_ buy now capsule that proved “digital spectacle can translate directly into measurable sales and engagement”.

CCI data showed that Gucci generated 562 million impressions across platforms_ with 516_000 total shares_ representing 15 percent of all Milan Fashion Week social posts. Caro Daur_s TikTok achieved 11 million views to become the most viewed single piece of Gucci_s content across all platforms during fashion week.

In brand popularity_ the brand ranked second overall_ behind Prada_ boosted by a 28.6 percent share of total media value_ while in brand involvement_ Gucci was second overall_ behind Bottega Veneta_ with an engagement rate reaching 8.2 percent versus an average of 5.9 percent.

When it came to the purchase intent pillar_ the brand ranked fifth in search_ behind Fendi_ The Attico_ Jil Sander_ and Bottega Veneta_ with a 9.1 percent increase in site traffic and a 10.3 percent rise in Google shopping-related searches versus an average of 4.2 percent. A small decrease on Baidu indicated that Western market traction slightly outpaced Asian response.

Fendi boosted by Asian creators and stars

Fendi_ which closed Milan Fashion Week_ brought both a “historic transition and a major market win_” said the CCI report_ as the fashion house generated 303 million impressions across platforms_ and achieved dominance across Asian platforms_ as its contents accounted for 20 percent of all fashion week impressions on Red_ 9 percent on Weibo and 15 percent on Douyin.

Its score of 92.9 score was particularly boosted by its first-place ranking in the purchase intent pillar_ recording a 17.8 percent increase in site traffic_ a 10.6 percent rise in Google shopping-related searches and 8 percent on Baidu. The peak occurred between 72 and 92 hours after the show_ driven by the timed release of celebrity imagery and the presence of global ambassador Bang Chan of Stray Kids.

“Fendi_s results confirm the effectiveness of its dual strategy: leveraging K-pop influence to drive youth engagement while translating cultural visibility into measurable demand_” added the CCI report.

Bottega Veneta showed balanced strength across all three pillars

For third place_ Bottega Veneta_ the debut of Louise Trotter as creative director_ showed “strategy and engagement_” to earn an 88.9 score. Anticipation for Trotter_s debut “was built organically_ culminating in a show that combined minimalism_ craftsmanship and cinematic presentation_ amplified through a flawless livestream and strong creator presence”.

The report also stressed the effectiveness of Bottega Veneta_s digital execution and controlling the narrative of its show_ as the brand_s YouTube show alone generated 16 million views_ accounting for 5 percent of the brand_s total impressions during the monitored period. Overall_ the brand achieved 351 million impressions across platforms and was boosted by its brand ambassador Kim Nam Joon of BTS_ whose content generated 8 percent of the brand_s total impressions.

Milan Fashion Week saw a shift towards stunts

The index also revealed that the “stunt is now as critical as the show_” with Milan SS26 confirming a critical shift_ as cultural events transcended the runway and converted celebrity_ emotion_ and audacious concepts “into dominant digital moments”.

Gucci was “best in class” for expertly merging K-Pop fandom_ Hollywood storytelling_ and high fashion_ while Dolce & Gabbana engineered a viral stunt_ with a single post from Vogue Magazine featuring Meryl Streep and Anna Wintour that achieved more than 24 percent of views of the total of the brand views.

Diesel was highlighted for “shifting the focus from the collection_” with its city-wide “egg hunt” that intended to democratise fashion and generate high volumes of user content. However_ the CCI said the bold experiment failed to convert its high exposure into “meaningful engagement_” even with the brand ambassador Lyas featured on the brand_s TikTok channel. The video saw high viewership but very low shares. The data shows that it had 3.9 million views but only 149 shares_ a performance that is significantly penalised by the TikTok algorithm.

“The experience itself was well conceived_ but it was poorly executed. This resulted in the collection becoming a mere side dish to the overall activation_ rather than its central focus_” added the CCI report.