Dive Brief:
- Prada Group nabbed the top spot for the second time in a row on the quarterly Lyst Index, a ranking released Wednesday of fashion’s top brands and products based on shopping behavior and product searches over a 3-month period.
- Searches for Prada were up 22% in the Q1 2023 rankings. Prada’s sister brand Miu Miu landed the No. 2 spot, the highest it’s reached since the index began in 2017. The report attributed the climb in ranking to the popularity of Miu Miu’s pocket bag, a second New Balance collaboration and a celebrity-studded show at Paris Fashion Week.
- Uniqlo’s crossbody shoulder bag, which retails for under $20 and sold out multiple times in multiple colorways, was the top product on the list. The bag went viral on TikTok with over 59 million views, and is the lowest-priced item to ever be featured in the Lyst Index.
Dive Insight:
Prada Group topped the Lyst Index this quarter because of the company’s ability to identify growing categories and viral products, a spokesperson for Lyst Index said in an email.
“When it comes to Miu Miu, we've seen solid demand for the pocket bag, a second collaboration with New Balance, and a buzzy Paris Fashion Week show featuring Emma Corrin, Zaya Wade, Mia Goth and Ethel Cain,” the spokesperson said.
Of the 20 brands ranked on the Lyst Index, Versace rose the fastest, from the 13th spot in Q4 2022 to the 8th spot this quarter. The report attributed the rise to Donatella Versace’s decision to host her FW23 shows in Los Angeles on Oscars weekend. The show had over 39.8 million TikTok views, and Lyst reported that searches for the brand increased 44% in the days following the event.
Kim Kardashian’s shapewear brand Skims and JW Anderson, the gender-neutral quiet luxury brand from Northern Ireland’s Jonathan Anderson, both debuted on the list, at 17th and 20th respectively. Meanwhile, Magda Butrym, Ann Demeulemeester and Khaite were called “this quarter’s Breakout Brands to watch.”
Lyst’s spokesperson said rankings changed based on “a huge range of factors, from new creative directors and viral social media campaigns, to the launch of a new product line and a buzzy IRL fashion event.”
Sinking on the list were Kering brands Gucci, which fell from second place in Q4 2022 to 9th this quarter, and Balenciaga, which dropped from the 11th spot to 18th.
In hot product rankings, the Kriester Sunglasses by Rick Owens snagged second position, and the ubiquitous Big Red Boots from MSCHF were in fourth place. Alaïa’s Le Coeur Bag and Maison Margiela’s Salomon sneaker collaboration rounded out the list at 9th and 10th place.
Lyst, a fashion technology company and shopping app, calculates its quarterly Lyst Index brand and product rankings based on Lyst shoppers’ behavior, social media mentions, consumer searches both on and off its platform, product views and sales, and activity and engagement statistics worldwide.
