CONSUMERS

Soaring Demand For Balenciaga Helps It Reach World’s Hottest Brand Again.

by

Limei Hoang

|

Balenciaga's Autumn/Winter 2022 show.
Credit: Courtesy.

Retaining its spot as the world’s hottest brand for the third time in a row, demand for Balenciaga surged by 108 percent in the first quarter of this year, helped by the social buzz and hard sales around its products, according to the Lyst Index, a report that ranks the most popular brands and products.

Re-writing the rules of what it means to be a luxury fashion brand today, interest in Balenciaga has helped the French fashion house maintain its number one position as the world’s hottest brand today, thanks to its dramatic and thoughtful autumn/winter 2022 runway show on resilience, which shifted into a response towards the war in Ukraine, something its creative director Demna had experienced in his native country of Georgia.

Demand for brand surged by 108 percent in the first quarter, helped by brand heat, social buzz, and hard sales around key products, said Lyst, which compiles a quarterly report that ranks the most popular brands and products.

Gucci was ranked in second place, followed by Louis Vuitton, Prada, Valentino, Dior, Moncler, Bottega Veneta, Fendi, and Miu Miu respectively to make up the top 10 hottest brands.

As the mood has dramatically changed from the last quarter, where searches for post-pandemic party related fashion were the most popular, so too has the index rankings of brands, which sees Diesel climb up by 31 places to enter the Lyst Index for the first time at number 15, Miu Miu jumps by 10 places thanks to its viral mini-skirt moment that resulted in a 400 percent increase in searches for the brand over the last three months and Adidas re-entering the index at number 17, helped by a Gucci collaboration.

Global searches for Rick Owens rose by 68 percent this quarter, resulting in the designer jumping 9 places to reach number 16, after a 6-month period outside the top 20.

Lyst, which analyses the online shopping behaviour of more than 160 million shoppers a year – who browse and buy fashion across 17,000 designers and stores online – compiles the index as a way to measure which brands are striking a chord with shoppers each quarter, taking int account Lyst shopper behaviour, including conversion rates and sales. It also includes Google search data, as well as social media mentions and engagement statistics worldwide over a three month period.

Fashion’s current focus on Y2K youth culture and the influence of TikTok trends has meant a diverse mix of brands and styles across the index in the top products ranking.

Demand for loafers on the men’s product list has risen by 87 percent over the last year, and sculptural platform boots by Naked Wolfe are the number one product on the women’s product list, driven in part down to TikTok (the hashtag #nakedwolfe has 111.2 million views) and celebrities like Hailey Bieber and Kourtney Kardashian wearing the items.

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 fashion and 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

Soaring Demand For Balenciaga Helps It Reach World’s Hottest Brand Again.

by

Limei Hoang

|

Balenciaga's Autumn/Winter 2022 show.
Credit : Courtesy.

Retaining its spot as the world’s hottest brand for the third time in a row, demand for Balenciaga surged by 108 percent in the first quarter of this year, helped by the social buzz and hard sales around its products, according to the Lyst Index, a report that ranks the most popular brands and products.

Re-writing the rules of what it means to be a luxury fashion brand today, interest in Balenciaga has helped the French fashion house maintain its number one position as the world’s hottest brand today, thanks to its dramatic and thoughtful autumn/winter 2022 runway show on resilience, which shifted into a response towards the war in Ukraine, something its creative director Demna had experienced in his native country of Georgia.

Demand for brand surged by 108 percent in the first quarter, helped by brand heat, social buzz, and hard sales around key products, said Lyst, which compiles a quarterly report that ranks the most popular brands and products.

Gucci was ranked in second place, followed by Louis Vuitton, Prada, Valentino, Dior, Moncler, Bottega Veneta, Fendi, and Miu Miu respectively to make up the top 10 hottest brands.

As the mood has dramatically changed from the last quarter, where searches for post-pandemic party related fashion were the most popular, so too has the index rankings of brands, which sees Diesel climb up by 31 places to enter the Lyst Index for the first time at number 15, Miu Miu jumps by 10 places thanks to its viral mini-skirt moment that resulted in a 400 percent increase in searches for the brand over the last three months and Adidas re-entering the index at number 17, helped by a Gucci collaboration.

Global searches for Rick Owens rose by 68 percent this quarter, resulting in the designer jumping 9 places to reach number 16, after a 6-month period outside the top 20.

Lyst, which analyses the online shopping behaviour of more than 160 million shoppers a year – who browse and buy fashion across 17,000 designers and stores online – compiles the index as a way to measure which brands are striking a chord with shoppers each quarter, taking int account Lyst shopper behaviour, including conversion rates and sales. It also includes Google search data, as well as social media mentions and engagement statistics worldwide over a three month period.

Fashion’s current focus on Y2K youth culture and the influence of TikTok trends has meant a diverse mix of brands and styles across the index in the top products ranking.

Demand for loafers on the men’s product list has risen by 87 percent over the last year, and sculptural platform boots by Naked Wolfe are the number one product on the women’s product list, driven in part down to TikTok (the hashtag #nakedwolfe has 111.2 million views) and celebrities like Hailey Bieber and Kourtney Kardashian wearing the items.

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 fashion and 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.

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