Just in time for the mayhem of New York Fashion Week, Lyst has released its brand index for the fourth quarter of 2024.
Once again, Lyst put Miu Miu at the top of its “hottest fashion brands” index followed by Saint Laurent, Prada, Loewe, and Coach.
It’s the third time Miu Miu has come out on top in the last four quarters, while Prada and Saint Laurent have stayed in the top five. The ratings come as luxury continues to reel from a persistent slump.
Katy Lubin, VP Brand and Communications at Lyst, told Retail Brew in an email that the brand owes its success to a combination of great storytelling, strategic marketing, and effective global ambassadors. “Lyst data shows how from runway to release, Miu Miu products’ stories emerge naturally rather than in a show of forced manufactured virality,” she said.
Meanwhile, Coach moved up 10 places to reach the fifth position. According to Lyst, demand for the retailer was up 65% quarter over quarter and 332% YoY thanks to a well crafted strategy to stay connected with its Gen Z customers.
Another retailer making a big statement was COS. While it came in at 17th, it’s a first-time entrant. Per Lubin, demand for the minimalist H&M-owned retailer has grown steadily over the past three years. Additionally, products such as coats, knitwear, and trousers drove demand, which was up by 16% this quarter.
“It has become a huge flex to find something that looks ultra luxurious on a budget,” she said. “The smartest shoppers can identify when the fit and the fabrication is just right, and the COS cashmere sweater in this quarter’s report is a brilliant example of a piece that looks more expensive than it actually is.”
Whether it's Miu Miu or COS, there seem to be indicators about whether a brand will succeed in this economy. “Fashion fans appreciate a clear, consistent vision that is powerfully articulated by a great, recognizable product,” Lubin said. “Customers also increasingly care about value, and the inclusion of brands like Coach and COS alongside the luxury players who have dominated the index for years, is a signal of the shifting landscape.”
Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.