CONSUMERS

Balenciaga Falls Out of Top Ten Hottest Brands For First Time – Lyst Index

by

Limei Hoang

|

Balenciaga's Winter 2022 campaign featuring Kim Kardashian.
Credit: Courtesy.

Balenciaga’s controversial end to the year saw the French fashion house drop seven places in the Lyst Index’s hottest brands ranking, making it the first time the brand fell out of the Top 10 since the index started.

Prada has been named the hottest brand in the world, according to the latest edition of the Lyst Index, a quarterly ranking of fashion’s hottest brands and products. Searches for the Italian fashion house rose by 37 percent in the fourth quarter of 2022, helped in part by demand for its Prada logo slingbacks and other logo-ed products.

This quarter also documented Balenciaga’s fall from grace, as the French fashion house dropped by seven places in the hottest brands ranking, marking the first time Prada has been out of the Top 10. Both Balenciaga and Gucci have dominated the fashion conversation since the Lyst Index was launched in 2017, and this quarter’s performance demonstrated the creative shifts and periods of transitions for many brands in the industry.

“It was a wild ride for the brands in The Lyst Index this quarter, as Q4 saw the most movement amongst the top 20 brands since the chart began,” said Lyst. “The stakes, and the drama, are high.”

“With all this change comes opportunity, as shown by the newcomers now entering the Index,” they added. “Gen Z shoppers are breathing new life into once dormant brands. Stepping up into 15th place — and with over 1.2 billion mentions on TikTok — Ugg’s influence is undeniable. Searches for its $140 ultra mini boots, which have been sold out across many retailers for most of the past three months, have skyrocketed 82 percent.”

For the first time ever, Ugg entered the index in 15th place, thanks to its growing popularity with Gen Z on TikTok. Its $140 ultra mini boots, which have been sold out across retailers for most of the quarter, spiked 82 percent over the holidays.

Climbing seven places in the hottest brands list, Loewe is also rising fast, with its padded bomber jacket ranking the seventh hottest product this quarter. As seen on Hailey Bieber, Kendall Jenner, Kylie Jenner, Taylor Russell and Lori Harvey, there are currently 478.5M views for #LoewePufferJacket on TikTok. Coach also entered the Lyst Index for the first time thanks to a rise in demand for its more accessibly priced handbags over the gifting season, which have increased in popularity among Gen Z shoppers.

“The brands winning the attention of the new luxury consumer are building meaningful relationships with the right talent,” said Lyst.

“But with luxury shoppers more astute and vocal than ever, the audience on social media is not afraid to call out or meme the celebrity endorsements that feel inauthentic,” they added. “Heading into a packed show season, the brands that capture share of mind and share of wallet will be courting the right celebrities and influencers to help them cut through the noise.”

The report takes into account more than 200 million shoppers’ behaviour on the fashion technology company and premium shopping app, including searches on and off the platform, product views and sales. It also considers social media mentions, activity and engagement statistics worldwide, over each three-month period.

Prada, Gucci, Moncler, Miu Miu, Valentino, Bottega Veneta, Loewe, Dior, Dolce & Gabbana and Saint Laurent made this quarter’s top 10 hottest brands, followed by Balenciaga, Nike,Versace, Fendi, Louis Vuitton, Diesel, Ugg, Burberry, Coach and Jacquemus.

For the full findings from The Lyst Index, please click here.

Welcome to Data Digest, our breakdown of the latest data releases and reports focused on the luxury industry.

Limei Hoang
Limei Hoang

Senior Editor, Luxury Society

Limei Hoang is a senior editor at Luxury Society, based in Geneva. She was formerly an associate editor at the Business of Fashion in London. Previously, Limei spent six years at Reuters as a journalist, and she has also written for the BBC, The Independent, and New Statesman.

CONSUMERS

Balenciaga Falls Out of Top Ten Hottest Brands For First Time – Lyst Index

by

Limei Hoang

|

Balenciaga's Winter 2022 campaign featuring Kim Kardashian.
Credit : Courtesy.

Balenciaga’s controversial end to the year saw the French fashion house drop seven places in the Lyst Index’s hottest brands ranking, making it the first time the brand fell out of the Top 10 since the index started.

Prada has been named the hottest brand in the world, according to the latest edition of the Lyst Index, a quarterly ranking of fashion’s hottest brands and products. Searches for the Italian fashion house rose by 37 percent in the fourth quarter of 2022, helped in part by demand for its Prada logo slingbacks and other logo-ed products.

This quarter also documented Balenciaga’s fall from grace, as the French fashion house dropped by seven places in the hottest brands ranking, marking the first time Prada has been out of the Top 10. Both Balenciaga and Gucci have dominated the fashion conversation since the Lyst Index was launched in 2017, and this quarter’s performance demonstrated the creative shifts and periods of transitions for many brands in the industry.

“It was a wild ride for the brands in The Lyst Index this quarter, as Q4 saw the most movement amongst the top 20 brands since the chart began,” said Lyst. “The stakes, and the drama, are high.”

“With all this change comes opportunity, as shown by the newcomers now entering the Index,” they added. “Gen Z shoppers are breathing new life into once dormant brands. Stepping up into 15th place — and with over 1.2 billion mentions on TikTok — Ugg’s influence is undeniable. Searches for its $140 ultra mini boots, which have been sold out across many retailers for most of the past three months, have skyrocketed 82 percent.”

For the first time ever, Ugg entered the index in 15th place, thanks to its growing popularity with Gen Z on TikTok. Its $140 ultra mini boots, which have been sold out across retailers for most of the quarter, spiked 82 percent over the holidays.

Climbing seven places in the hottest brands list, Loewe is also rising fast, with its padded bomber jacket ranking the seventh hottest product this quarter. As seen on Hailey Bieber, Kendall Jenner, Kylie Jenner, Taylor Russell and Lori Harvey, there are currently 478.5M views for #LoewePufferJacket on TikTok. Coach also entered the Lyst Index for the first time thanks to a rise in demand for its more accessibly priced handbags over the gifting season, which have increased in popularity among Gen Z shoppers.

“The brands winning the attention of the new luxury consumer are building meaningful relationships with the right talent,” said Lyst.

“But with luxury shoppers more astute and vocal than ever, the audience on social media is not afraid to call out or meme the celebrity endorsements that feel inauthentic,” they added. “Heading into a packed show season, the brands that capture share of mind and share of wallet will be courting the right celebrities and influencers to help them cut through the noise.”

The report takes into account more than 200 million shoppers’ behaviour on the fashion technology company and premium shopping app, including searches on and off the platform, product views and sales. It also considers social media mentions, activity and engagement statistics worldwide, over each three-month period.

Prada, Gucci, Moncler, Miu Miu, Valentino, Bottega Veneta, Loewe, Dior, Dolce & Gabbana and Saint Laurent made this quarter’s top 10 hottest brands, followed by Balenciaga, Nike,Versace, Fendi, Louis Vuitton, Diesel, Ugg, Burberry, Coach and Jacquemus.

For the full findings from The Lyst Index, please click here.

Welcome to Data Digest, our breakdown of the latest data releases and reports focused on the luxury industry.

Limei Hoang
Limei Hoang

Senior Editor, Luxury Society

Limei Hoang is a senior editor at Luxury Society, based in Geneva. She was formerly an associate editor at the Business of Fashion in London. Previously, Limei spent six years at Reuters as a journalist, and she has also written for the BBC, The Independent, and New Statesman.

Related articles

CONSUMERS

In the Gloom in China’s Luxury Market, Is 520 Still Relevant?

CONSUMERS

The Anatomy of the Perfect Brand Resort Takeover

CONSUMERS

5 Must Know Facts About China’s Millennials