E-commerce player Lyst has teamed up with The Business of Fashion to introduce a new ranking of fashion’s hottest brands and biggest products.
The Lyst Index relies on information pulled from the Lyst site – which tracks 4.5 million data points per hour from over 65 million annual consumers, 4 million products and 12,000 brands – as well as Google search data. The formula takes into account search, page views (across devices), engagement, intent rate and conversion.
For Q2 of this year, Gucci comes out top, rising three places since April 2017 to overtake Yeezy and Vetements, which ranked in second and fourth place respectively, with Balenciaga rising from ninth to number three. Gucci also sees four products listed in the 10 best-selling products globally, with its GG Blooms slides topping the list overall.
The Business of Fashion puts that rise down to Gucci’s ability to connect with millennial and Gen Z consumers. The report reads: “Alessandro Michele’s maximalist-magpie aesthetic translates extremely well to digital channels, while the brand’s marketing strategies, such as the meme-led campaign for Gucci watches in March, and Glen Luchford’s recent ‘50s sci-fi inspired video have proved successful experiments.”
It highlights the fact sales to millennial and Gen Z consumers grew at double-digit rate in the first of the 2017 fiscal year, and retention is high. It also outlines that Gucci sales rose to €1,48 billion in Q2, up 39.3% year over year and beating analysts’ expectations by 7%. Operating profit for H1 was over €907 million, up 69% from about €537 million last year.
Yeezy at number two it puts down to the ongoing buzz around founder Kanye West and the fact he’s married to one of the most photographed women in the world, as well as the clever pricing and distribution strategy that Adidas has deployed.
Meanwhile, Balenciaga at number three is attributed to the streetwear attitude to couture that Demna Gvasalia has introduced as well as some clever marketing plays. But it was reportedly its inadvertent part in the Ikea shopping bag viral meme that caused its biggest search increase in the quarter.
Other brands listed in the top 10 include Givenchy, Valentino, Y-3, Prada, Nike and Fendi, while those with winning products further include Saint Laurent, Chloé, Diane Von Furstenberg, Common Projects and Comme Des Garçons.
This is the first in a series of four quarterly Lyst Index reports.