A report by Reuters indicate, luxury fashion brands like Christian Dior, Louis Vuitton and Gucci are increasing their investments on social media, especially on Instagram, and pouring real money into efforts to court young shoppers. As social media influencers are reaching mainstream status, they are asking for over $22,546 per post. With cash to spend, luxury brands are racing ahead of their competitors.

Kering, the company that owns Gucci, spent 50 percent of its yearly media budget on digital advertising in 2018, which is up from 20 percent the year before. Kering’s rival LVMH upped its marketing spending dramatically as well, spending $5.3 billion. The only company to spend more was Chanel. Louis Vuitton, which drives LVMH’s sales, has half of its marketing costs earmarked for digital media.

Just three years ago, Valentino, a fashion brand that is about seven times smaller than Louis Vuitton, was the most popular brand on Instagram, ahead of many better-known rivals. The company paid attention to fans and mixed professional posts with personal engagement. Now, the company’s revenue has slowed, as Louis Vuitton has tripled its followers on Instagram to 32.1 million, with its revenues expanding rapidly.