Categories
data e-commerce

Gucci tops first hottest brands list from Lyst and The Business of Fashion

Lyst3


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.”

The Lyst Index
The Lyst Index

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.

The Lyst Index
The Lyst Index

Categories
business social media

Dior is the top relevant luxury brand among China’s Generation Z, report says

Dior brand ambassador Angelababy. Photo: Angelababy/Weibo
Dior brand ambassador Angelababy. Photo: Angelababy/Weibo

While the appointment of actress Angelababy as the brand ambassador for Christian Dior stirred up much controversy in China in May, it may not have been such a bad move for the brand after all. According to a report released this month by RTG Consulting Group (RTG), the French luxury powerhouse has been named the most relevant luxury label by China’s Generation-Z (a group that ranges in age from 15-24). And Angelababy‘s extreme popularity among this age group shows that her appointment was one of the smartest moves the 70-year-old fashion brand has made to reinvigorate its image in China.

According to the “Brand Relevance Report 2017,” the brand is believed to be highly effective at inspiring Chinese youth to express the cultural values and philosophy they stand for, which transcends the traditional cultural norms. That is an important ability for luxury brands to master if they want to stay relevant with this young population. Chanel and Swarovski are the next two most relevant luxury labels among China’s millennial youth, respectively.

“The young generation is really moving away from materialism to embrace (values such as) playfulness and mindfulness,” Marc Arnold, the chief strategy officer of RTG as well as the author of the 2017 relevance report, told Jing Daily. “Dior is good at inspiring expression (of these shifting cultural values) that goes beyond the tradition and norms. Plus, [the brand] also has good visual campaigns that are appealing to young people.”

The 2017 relevance report surveyed 5,000 Chinese consumers from first-tier cities (Shanghai, Beijing, Guangzhou, and Chengdu) to get a sense of how they perceive the relevance of 300 international and domestic brands to their daily life.

It categorises these surveyed brands into nine sectors including luxury, personal care, beauty and hospitality. By “relevance,” RTG refers to the ability of a brand to establish a strong and emotive relationship with consumers and stand for something that truly matters to their lives.

Under the luxury category, Chanel, with an average score of 6.7, stands at the top of the ranking as the most relevant luxury label in China, among all age groups, in 2017. According to the report, the brand has catered to Chinese clientele with a diverse product offering ranging from well-designed handbags to fragrance and beauty products. In addition, Chanel’s social media campaigns and celebrity endorsements have pushed the level of the brand’s relevance among the digital-savvy Chinese consumers even further.

Top 20 relevant luxury brands in China: courtesy photo
Top 20 relevant luxury brands in China: courtesy photo

However, given the success of Dior among the younger generations, whether or not a brand is able to inspire its consumers seem to be highly important. In order to gauge this quality, RTG dubs it the “passionate” metric. Dior has secured a score of 8.4 under the “passionate” metric, outperforming Chanel (7.4), Gucci (7.6) and Cartier (6.6), among others.

Another interesting finding from the report is that Burberry ranks relatively low in comparison to the strong rebound of its market recognition and sales in China. Earlier this month, Burberry’s first quarterly report presented a better-than-expected global growth, with its chief financial officer, Julie Brown, highlighting the contribution from Chinese consumers.

The brand was only ranked 17th on the list with a relevance score of 4.7. The passionate score is also low at 5.9. That finding seems particularly counterintuitive given that the brand has frequently worked with the pop singer Kris Wu who has a huge young Chinese fan base.

“This might be related to its country of origin,” said Arnold. “Britain is not a country that is known for triggering creativity and playfulness, compared to France, for example.”

“What’s more important, Burberry is more perceived as an icon of fashion, not luxury, in China.”

The rest of the report contains many other insights. For instance, the concept of the luxury lifestyle that is led by the Four Seasons Hotels & Resorts is successful in growing the brand’s relevance among Chinese consumers, making it the top brand in the hospitality field.

Estee Lauder, the most relevant beauty brand in China, shows that consumers buy into the rich history and heritage of this French label. Its prominence also derives from their “large-scale campaigns across strategic media platforms using well-chosen celebrities.”

Meanwhile, a number of domestic Chinese brands including Huawei, WeChat and Yili have all seen their relevance surging in 2017, signifying the rising influence of Chinese brands across the globe.

By Yiling Pan @SiennaPan

This article was originally published on Jing Daily, a Fashion & Mash content partner.

Categories
social media

The @BoF indexes fashion influencers in new #BoF500 list

BoF500

None too impressed by other rankings frequently released in fashion, The Business of Fashion has decided to launch its own instead. This time the subject is the influencers that are shaping the global industry, rather than the brands. And there’s 500 of them in total.

In an introductory note, founder Imran Amed refers to these people as “vital connectors in the intricate web of relationships that binds the global fashion community together”.

He writes: “They are blue-chip titans who helm the industry’s mega-brands and daring young upstarts whose fashion stars are fast rising. They are disruptive entrepreneurs building the next wave of $1 billion start-ups and opinion-leaders whose points of view attract followers, online and off. They are power princesses, chic sheikhs and supermodels, as well as discreet, behind-the-scenes catalysts who spot and support the industry’s top talents.”

The index itself is being released as a limited edition print run, but also online via businessoffashion.com/BoF500 where everyone featured has a dedicated professional page.

Social media activity of the BoF 500 can also be tracked via a live mosaic – a space that pulls in visual content from all of their personal feeds, and categorises things like what’s trending, how many images have been posted in the past 24 hours, and the most active location (Paris at present).  The result, says Amed, provides “a continuously unfolding glimpse into the collective consciousness of the global fashion industry”.

 

Categories
social media

The fashion and beauty accounts featured in TIME’s 2013 best of Twitter list

CocoRocha_Twitterpic

There’s an interesting cross section of both brands and individuals in the fashion and beauty category of TIME Magazine’s 140 best Twitter feeds of 2013 list. Among them are the likes of Coco Rocha (as pictured) through to Michael Kors, as well as teenage blogger Tavi Gevinson and Sports Illustrated model Kate Upton. Got to love the inclusion of the Museum at FIT though.

Here’s the full list, as well as the reasons why:

Tyra Banks: Following Tyra Banks on Twitter is sort of like watching her give advice on America’s Next Top Model — and we mean this in the best way possible. Her empowering, chase-your-dreams tweets will have you feeling fierce in no time.

Tavi Gevinson: While the rest of us probably spent our teen years hanging out at the local diner, the sixteen-year-old editor-in-chief of RookieMag attends haute couture fashion shows and makes late-night show appearances. It’s okay though, we can all live vicariously through Tavi by following her on Twitter.

Michael Kors: Designer Michael Kors uses Twitter to preview his upcoming collections, offer style tips and dispense advice for aspiring fashionistas looking to break into the industry.

Maybelline: Maybelline’s Twitter feed won us over the moment it started live-tweeting episodes of Gossip Girl. Think of Maybelline’s social media persona as the friend you had in high school who was always good with beauty products — offering make-up dos and don’ts daily for women everywhere.

Museum at FIT: With clothing dating back to the 18th century, the collection at the Museum at FIT is extraordinary. If you are unable to make the trip to the Big Apple, the museum highlights items from their collection daily on Twitter with recurring themes like ‘Historic Dress of the Day’ and ‘Accessory of the Day.’

Laurel Pantin: Glamour’s Associate Accessories and Shopping Editor Laurel Pantin tweets from every press preview, every party and every meeting she goes to. In her position, that’s a lot of tweets. If you like fashion and want to know what’s going on in the industry this very minute, you can do it just by following her.

Nicole Richie: Even though she’s now a mother, author and fashion designer, Nicole Richie’s Twitter feed feels like a throwback to her The Simple Life days. Whether she’s tweeting about how good she looks or being exhausted from wearing jeans, her sense of humor is apparent in every tweet.

Coco Rocha: Coco Rocha is more than just a pretty face. The model turned TV star keeps her Twitter followers up to date on the latest episodes of The Face and various other fashion projects.

Kate Upton: Model Kate Upton really is America’s “girl next door.” Despite what you may have thought after looking at Sports Illustrated’s Swimsuit issue, she doesn’t usually hangout in arctic conditions wearing little to no clothes. As her Twitter feed makes clear, Upton’s just a normal gal who enjoys the company of her girlfriends and her pet boxer.

VFiles: Fashion doesn’t have to be so serious, ladies and gentleman — which is what makes VFiles’ Twitter account particularly brilliant. Along with hilarious one-liners, you’ll find interesting commentary from VFILES on fashion and pop culture.