Gucci allows users to try on sneakers via mobile. Image credit: Gucci
Gucci, Balenciaga, Valentino and Prada are some of the most sought-after brands this season, as the popularity of their luxury streetwear and logo-focused handbags are pushing them forward.
According to the Lyst Index for the second quarter of 2019, Gucci held the top spot as the hottest brand following a 20 percent increase in revenue growth, helped along by marketing such as its new mobile sneaker try-on feature (see story). Balenciaga ranked at number three, behind Virgil Alboh’s Off-White, as it unveiled its Track 2 sneakers while also pledging to offer full four-year scholarships to the Pratt Institute Black Alumni.
“The top 20 brands have been relatively stable at the top of the index over the last three quarters,” said Morgane LeCaer, fashion insights reporter at The Lyst Index. “In many cases, global demand for these powerhouse labels is being driven by a handful of key hero products.
“Luxury sneakers and logo handbags remain the most strategic, commercial opportunity to engage with new customers,” she said. “Standout, lust-worthy product drives brand heat.
“This is demonstrated by the success of Bottega Veneta’s The Pouch bag, this quarter’s fifth hottest product, and the brand’s impressive jump 23 positions up the index.”
Streetwear and fashion
The Q2 Lyst Index also puts Valentino and Prada in the top five, as they respectively placed fourth and fifth.
Valentino secured the third spot as the brand continues to work with Jun Takahashi from Undercover, focusing on luxury streetwear, while Prada saw annual revenue growth for the first time in four years. Prada’s anti-fur movement and its move to phase out newly manufactured nylon could have prompted this change in results.
Prada Re-Nylon bags are made with upcycled nylon. Image credit: Prada
Filling out the top 10 are Fendi, Stone Island, Nike and Saint Laurent. Fendi making it to spot number six supports the idea that streetwear is a hot commodity in fashion right now, as it just released a capsule collection with graffiti artist Pref.
With Keanu Reeves and Finn Wolfhard as new ambassadors for the brand, Saint Laurent saw sales increase 17.5 percent. The brand also featured exclusives at Net-A-Porter.
The Lyst Index also found that Rihanna and Beyoncé were the most influential forces in fashion in the second quarter.
For instance, after Beyoncé revealed she is working with Adidas on a special collection via Instagram, the brand saw 61 percent boost in social impressions within just 24 hours. During the quarter, searches for the brand were up 31 percent.
Rihanna’s announcement that she is working with LVMH for a new fashion line generated 5,000 media articles and 7 million social impressions.
Off-White proved to have the hottest item of the quarter, with its Jitney 1.4 “Cash Inside” bag seeing significant demand even before its release. Another bag in the rankings is Chloé's C mini croc-effect leather bag.
Lyst's Q2 Index film
Previous index
According to a previous Lyst Index, Prada’s pivot towards streetwear panned out for the Italian label, leading it to significantly jump in the rankings as a trending brand.
Nylon belt bags, gabardine track pants, Tessuto bucket bags and bucket hats were among the top products that helped propel Prada up 14 places in the Lyst rankings for the first quarter, produced in partnership with Business of Fashion. Balenciaga also rose to the top, pushing Gucci to second place (see story).
Streetwear affiliations are also playing out for other brands.
Now under the ownership of LVMH, German luggage label Rimowa is gaining a place in the fashion world through partnerships.
Rimowa’s branding strategy leverages collaboration. Rimowa has recently worked with labels including Fendi, Supreme and Off-White to transform its suitcases (see story). The brand is now the top searched luggage maker on Lyst, and searches spiked 27 percent in the second quarter."We were surprised to see a suitcase enter the list of the world’s hottest fashion products for the first time," Ms. LeCaer said. "Rimowa has re-energized an established product category and made luggage a modern luxury fashion proposition for a new generation of traveler."