It’s been a tumultuous few years for the fashion industry: the COVID pandemic sent supply chains into the stratosphere and the global cost of living crisis has meant consumer shave less money in their pockets to spend. The result? An industry whose ranks are changing faster than ever, and in the first quarter of 2023, we’ve seen some pretty big shake-ups…
Our headline may not surprise you if you’ve been following DMARGE for a little while: we’ve seen Gucci make the most common menswear mistake time and time again, while global superstars like Conor McGregor and Lewis Hamilton continue to step out in the latest Prada styles.
Having said that, despite a chaotic economic landscape in recent years, both brands have consistently been fighting for the fashion top spot for the last few seasons. Today, however, it looks as if all of that is set to change as Lyst release their Q1 Index for 2023…
These last few months have been defined by oscillating trends: extravagant dress-up and wearable everyday looks, loud vs quiet luxury, and big versus smaller brands, all shaped by ongoing design movements punctured by viral brand moments.
Data from The Lyst Index offers some solid ground in a fast-moving environment. The headline? Prada Group has cemented its status as a fashion powerhouse, remaining the hottest brand in the world for the second quarter in a row, with searches up 22%. Sister brand Miu Miu also did exceptionally well, leaping into second place – it’s highest recorded ranking.
The fastest riser of the quarter was Versace, which rocketed five spots up the chart. Their star-studded show LA Fashion Week show ingeniously combined the entertainment and fashion industries and, as a result, generated over 39.8 million views on TikTok while searches for the brand increased by 44%.
J.W. Anderson also made its first appearance in the Hottest Brands ranking this quarter. Jonathan Anderson is the third creative director to be at the helm of two of the Lyst Index’s Hottest Brands over the same quarter, following in Virgil Abloh’s and Miuccia Prada’s footsteps.
WATCH: Check out some of Lewis Hamilton’s favourite accessories…
Gucci, on the other hand, has had a bad ninety days at the office: plummeting from second place to ninth, despite announcing a plump €10.5 billion of revenue and naming Sabato De Sarno as their new creative director.
Another aspect of the Lyst rankings is the top products of the quarter. Though you probably won’t be surprised to hear that these aren’t particularly bloke-focused, it makes for interesting reading nevertheless and reveals the growing importance of TikTok as a platform for fashion brands.
In a surprise turn of events, a bag costing less than $20 USD has taken the top spot: Uniqlo’s shoulder bag has beaten out high-end designer brands and marks the first time a product at this price point has ever made it onto the prestigious Lyst Index.
So how did Uniqlo’s shoulder bag become the hottest product of the quarter? The answer lies in its popularity on social media. The bag went viral on TikTok, generating over 59 million views on the platform. This led to the bag selling out multiple times across nearly all of its colourways.
So, if you’re looking for a cheap pressie for the missus or a world-beating Mother’s Day gift, look no further: for a mere $20 USD, you can buy her the best bag in the world… I’ll keep my inbox open for any disgruntled dames.