Make-or-Buy the Virtual Influencer? Brand-owned vs Non-owned Virtual Influencers in Fashion Advertising

Virtual influencers (VIs) are rapidly becoming a core advertising asset in fashion, raising a key decision: should brands endorse through a brand-owned VI that is fully controllable, or partner with a non-brand-owned VI that appears more independent? Ownership cues are expected to activate a credibility-control trade-off, with the relative value of independence versus control varying across brand positioning. To examine how and when brand-owned VIs are expected to improve endorsement effectiveness, this research adopts a four-study mixed-methods design. Study 1 is expected to map how fashion brands disclose or imply VI ownership and how audiences discuss credibility, authenticity, and control, using automated social-media data collection and qualitative content analysis. Study 2 is expected to establish the causal effect of VI ownership (brand-owned vs. non-brand-owned) on endorsement effectiveness using standardized Instagram mock-ups. Study 3 will test brand positioning (luxury vs. mainstream) as a boundary condition, showing that brandowned VIs should be more effective for luxury fashion brands. At the same time, nonbrand-owned VIs may perform comparatively better for mainstream brands. Finally, Study 4 is designed to explain these effects by testing perceived VI-brand congruence as a mediating mechanism, with stronger indirect effects anticipated under luxury positioning. Overall, the findings should clarify VI governance decisions and provide actionable guidance for designing VI portfolios in an increasingly virtualized influencer economy.