ABOUT THE IFDAQ CITIES INDEX
The Global Fashion & Luxury Cities IPX (Intelligent Performance Index) is a daily updated, comprehensive, transparent and highly precise index for over 1,000 monitored fashion cities. As part of the IFDAQ virtual AI-ecosystem, the algorithm considers a high-dimensional data pool of significant factors and sub-factors.
As an industry-focused IPX index, it monitors fashion capitals and emerging cities based on their global market power, work volume, marketing activity, reputation and influence in the industry. These key elements define the importance of a city in fashion & luxury.
The IPX Index Technology
Developed by IFDAQ Research under scientific supervision, the IPX technology represents a novel approach with a new level of highly accurate performance values.
In contrast to traditional indices, the IPX uses actual real-time market dynamics and developments (i.e., power shifts, cross-segment effects) to dynamically adapt and calibrate the weighting of the key factors.
As an expressive decision-maker, an IPX can be generated within seconds and replaces slow, expensive, subjective and manual market research studies with real-time precise, fine-grained actionable insights into market developments.
Based on the multiple-awarded IFDAQ quantification technology, the IPX is a proprietary and independent deep-learning concept that can be applied and ported to various industries.
THE IFDAQ AI-SYSTEM
The IFDAQ (acronym for International Fashion Dynamic Automated Quantification system) makes the fashion and luxury industries more intelligent and productive. It reveals, and measures, the real market performance of all stakeholders and entities in these industries, as well as the impact of their actions.
Thanks to values coming from an intelligent ecosystem that creates a high-dimensional virtual image of the industry, the very first AI-driven Fashion Intelligence Unit with real-time industry monitoring for the entire industry offers unprecedented in-depth insights and delivers robust and novel scientific Key Performance Indicators (KPIs) to the most salient currency in fashion & luxury: market power, influence, and reputation.
It makes these driving factors visible, which always have been there, but never could be measured. Until today.
Notably, the IFDAQ does not rely on proprietary and confidential data to operate: its accuracy stems from an outside-in perspective.
The IFDAQ system is used by selected industry leaders, consulting groups and major banks as well as a number of authorities and universities. The unique deep learning technology behind it, is being strongly supported by leaders in AI, consulting and finance.
MethodologyThe Global Fashion & Luxury Cities IPX (Index) is made up of geographically assigned performance, prestige and influence values of the various entities, i.a. fashion & luxury brands, fashion media, agencies, as well as the respectively arising production or work volume of the respective city together.
The more such entities are in a city, the more pronounced is the power and influence in the industry. The quality and the individual value (including prestige, influence, market performance, etc.) are taken into special consideration.
The production and work volume is primarily composed of advertising campaigns, catalogues, look-books, fashion shows, advertising and fashion media productions.
This index does not rely on nor uses any sort of consumption or sales data.
The index methodology is based on a dynamically weighted algorithm that covers a.o. the following key factors:
|Brands||The more brands are located in a city, the higher is the reputation of a city in respect to their fashion influence. In addition, we also measured the prestige of every single brand. As more influential brands are based in a city the more important the city is.|
|Magazines||Fashion media gives an insight into the geographic importance of a city from which they have the greatest influence on fashion consumers.|
|Agencies||The amount, quality and dimension of modeling and artist agencies located at a certain city gives a perception how big the booking request volume of work a city has.|
|Performance||The flow-rate of global job assignments are carried out in the sense of production for advertising campaigns, catalogues, lookbooks, fashion shows, commercial and fashion media production for editorials.|
Official index publication for Q1 2021: January 20th 2021
Research TeamThe IFDAQ's Global Fashion & Luxury Cities Index is curated by a team of industry experts and researchers. The supervisory board is in charge for regular reviews and the scientific correctness of the data:
Lead SupervisorProf. Dr. Frédéric Godart, HDR
Index / Industry AnalystIva Mirbach
Economic AnalystDaryl de Jori, DBA
Lead AI ScientistDr. David Bücher
Data SupervisorDr. Reimund Homann
If you have any questions about this index or IFDAQ in general, please get in touch with us.