Dive Brief:
- Miu Miu was the world’s hottest brand in the fourth quarter of 2024, according to the latest Lyst Index, released Wednesday. The brand has held the top spot for three of the last four quarters, per the report.
- Saint Laurent was the second hottest brand for the period, while Prada was third. Loewe, which previously displaced Miu Miu as the top brand in Q2, moved down to the fourth spot. Searches were up 46% for the Brooklyn bag from Tapestry-owned Coach, making it the quarter’s hottest product.
- Ugg Classic Ultra Mini boots were the second hottest product and Miu Miu’s fleece sweatshirt was third. Coach’s cherry bag charm, which Lyst said “taps into the Gen-Z craze for customization” was the fourth hottest product, and there was a 77% spike in Q4 searches for “bag charms” on Lyst.
Dive Insight:
Several new brands rose in popularity over the last quarter of 2024 as changing consumer tastes revealed “a year of fashion in flux,” per the Lyst report. The company said that the transformation of its hottest brands chart is a reflection of “how online fashion shoppers are responding to shifting tides.”
Coach rose 10 spots in Q4 to become the fifth hottest brand, which Lyst said reflected an exceptional quarter across all of the key metrics on its index.
“A well-executed strategy to connect authentically with Gen Z customers has paid off, with demand up a staggering 65% quarter on quarter, and 332% year on year,” Lyst wrote in its report. “Competitive discounts during peak sale season allowed more customers to access hot Coach bags and made Coach pieces popular holiday gifts.”
H&M’s COS brand made its debut on the hottest brands list in 17th place, and demand for the minimalist label was up 16% for Q4. In addition, the COS cashmere sweater, which Lyst called “a dupe for The Row’s style,” was the fifth hottest product for the period.
Ugg entered the list in Q4 as the 10th most popular brand, and while the company is usually popular during the winter months, Lyst said demand in Q4 was unprecedented. Searches for the brand were up 358% for the quarter and 12% year over year. Lyst attributed the popularity to ongoing nostalgic appreciation for 2000s fashion and creators showcasing new ways to style the boots. In addition, a “Mini UGG outfit inspo” trend on TikTok helped make the style one of the quarter’s hottest products.
Skims, co-owned by Kim Kardashian, was also trending, and its outerwear collab with The North Face became the quarter's seventh most-popular item. The brand moved up one place to become the 11th most sought-after label in Q4.
The average retail price of Q4’s hottest products dropped 27% year over year to $628, which could be a reflection of a trend toward affordable luxury that Lyst noted in its Q3 2024 report.
“Algorithms overlap in our Hottest Products ranking, where the data surfaces celeb-endorsed statement pieces alongside more pragmatic ‘capsule wardrobe’ items,” Lyst said in the report. “Post quiet luxury, shoppers are still seeking sleek, clean design across all price points.”
Shopping platform Lyst has been reporting on trends since 2018, and its quarterly index ranks the fashion’s top performers over a three month period. Positioning is based on several factors, including social media mentions, consumer searches, product views and sales, and global activity and engagement statistics.
