Saudi Gazette
Balenciaga is now the hottest brand in fashion according to the list put together by global fashion search engine Lyst and BoF, the Business of Fashion.
The Lyst Index ranks the world’s hottest brands and top-selling products by tracking 4.5 million data points per hour from over 65 million annual consumers, five million products and 12,000 brands. In the third quarter of the year, Balenciaga has taken the top spot replacing Gucci, followed by Virgil Abloh’s Off-White as the third hottest brand right now.
In the second quarter of 2017, Gucci was the unanimous winner, with Yeezy in second position followed by Balenciaga.
“A new logo and a Collette residency kept the brand top of mind, while Demna Gvasalia continues to design products that drive the fashion narrative online,” Lyst said of Balenciaga, while praising Gucci for being a consistent performer. With a gigantic leap of 31 places since the previous quarter to become the third hottest brand now, Off White surpassed some of the biggest brands in the fashion industry highlighting the prominence of streetwear with high-end fashion.
According to consultancy Bain & Company’s theory of growth thanks to Gen-Z consumers’ share of wallet, streetwear has helped boost global sales of personal luxury goods by 5 percent to an estimated total of $309 billion in 2017.
It is followed by Vetements, Givenchy, Valentino and then Saint Laurent.
The third quarter report is also the first time that Lyst included the major influence of rappers on the fashion industry and as brand ambassadors, with Kanye West, Drake, Nicki Minaj, Pharrell and Cardi B making up the top five.
