A Novum With Full Transparency.The MARS.
The MARS (acronym for Modeling Agencies Rating System) is an automated modeling agencies rating system that is not only a tool to facilitate business decisions within the fashion industry, but moreover to regulate the agencies market with a fully transparent and non-profit instrument.
A good MARS rating depends partially on the amount of models and their works or career performance, which motivates the agencies to update their profiles here on FMD through the self-administrative functions . At the same time, the quotation of a model in the current IFDAQ is based on the amount of work, the validity of her career data and the recent works she has done as well as her market presence and popularity
As the very first digital automated quotation system of its kind, the MARS is part of the EADQS-series and currently running in beta mode to prepare an official launch and worldwide integration across agencies websites.
The project is developed and financed by the EDAQS, in cooperation with a number of notable industry backers, who are supporting more transparency within the agencies industry.
For more information about the MARS, please visit www.mars.im.
Mars Ratings Definition
Ratings created by the MARS are informed opinions based on factual evidence. Those opinions are continually updated by the MARS-committee. Though there is no individual solely responsible for the final ratings, ratings cannot be viewed as a scientifically exact measurement but as a mere summary of the overall position of a legit fashion model agency.
MARS ratings are based not only on the current performance, but also on the history of each agency. Updates of the ratings are therefore possible not only in case of a change of performance, but also on the non-disclosure of historical information.
Ratings are relative measures of market performance. Since all ratings are performed in categories, in some cases small differences in market performance are not mirrored completely. Ratings are opinions on relative market performance and therefore do not predict performance in an absolute sense.
Ratings are opinions based on information available to the MARS-committee. This includes publicly available information as well as undisclosed data and information provided to us by data partners and third parties. Therefore a rating can only be calculated in case of a sufficient amount of information available to us.
In maintaining its ratings, the MARS relies on data it gains from its official data partners as well as third party providers it believes to be credible.
Users of MARS-ratings should understand though that neither our own investigations nor the investigations of third parties providing information to us ensure that the data our ratings rely on are accurate and complete. Each agency is responsible for the accuracy of the information they provide to the public, MARS data partners and to the market. The assignment of a rating to any agency should therefore not be seen as a guarantee of the accuracy or completeness of the information relied on.
If the MARS-committee views a minimum amount for assigning a rating to a model agency as given, but the agency is not fully satisfied with its rating, the agency may request a thorough analysis with support from MARS ratings-experts.
Ratings given by the MARS do not give recommendations about the appropriateness of an agency for a specific model or a specific customer.
The MARS-system for rating model agencies does not provide to any party financial or legal advice. A rating should not be seen as a substitute for any such service.
Ratings may be upgraded, downgraded, updated, deleted or changed as a result of changes in the underlying information the MARS-committee considers sufficient for that purpose.
The assignment of a rating by the MARS does not constitute consent by the MARS-committee to use its name in connection with any legal affairs.
The meaning of the different MARS-ratings
In total the MARS differentiates between 10 different ratings from AAA as the best rating to D as the worst, while E has to be considered as an extraoridnary rating. Those different ratings are grouped into four primary levels with the A-ratings being the best and D being the worst. All levels are subdivided into three different ratings marked by the number each letter is repeated. BBB for example, is the best rating in the B-level, B is the worst rating in the B-level. The levels as described result in the following ratings that are applied by the MARS-committee: AAA, AA, A, BBB, BB, B, CCC, CC, C, DDD, DD, D.
A more detailed analysis
Here is a closer look at the meaning of each group:
The A-level consists of the best modeling agencies, in most cases, those who hold a notable market share in a geographically important city, represent a substantial amount of successful models, are long-running and have a high reputation. A-rated agencies are mostly based in the leading fashion cities. The Triple A (AAA) rating deserves a special mentioning: modeling agencies which obtain this rating are considered to be the prime segment of the worldwide business of modeling. In this rating, you will most likely find agencies that already earned a worldwide reputation for being the leading companies in their field and who are the "big names" of the business.
The B-level covers the wide middle-class. These agencies already developed some reputation within the industry, usually represent a mentionable amount of successful models and have well-placed offices.
C-level agencies are either new to the international market, or mainly representing nationally working models. Being rated with C does not necessarily mean an agency is of poor quality, since agencies that are new to the market usually require some time to gain a foothold and earn reputation. As currently the ratings do not give an outlook for the future but are mere measurements for their past and present performance, C-rated agencies still have the chance to get known better and to be upgraded in the future.
The D-level (default) includes agencies that may reflect a higher risk for their partners. The reasons for such a rating can be different but it could be caused by either a lower market presence or due to a bad location, or a combination of both. Owing to a presumable low turnover, failures of payment obligations can be seen as a potential risk.
The E-level (excluded) agencies include all agencies that are considered to be questionable and may not hold full legitimacy as a model agency, as stated by the MARS committee. In certain cases, these agencies could be either involved in criminal offenses and/or scam activities and/or obscure practices, but could also be rated for other reasons.
The MARS is providing an overview of the world of professional modeling agencies to interested parties. Ratings give an informed opinion based on facts, expert knowledge and mathematical formulae, representing the overall position of an agency in the market. As those positions change, the ratings might as well do so.
If your agency is rated in the MARS and you feel like you need to discuss your rating, we suggest to get in touch with the MARS committee.