When it comes to the popularity of fashion brands, there are several factors that come into play beyond just the creativity of their designs, promotional campaigns, and sales figures. According to search engine Lyst, which has analyzed the top 20 fashion brands of the moment, there are 12 key factors that seem to make a brand popular.
One important factor is a brand’s ability to cater to both men and women. The top influential brands on the Lyst Index offer a ratio of 60% women’s pieces to 40% men’s pieces. This inclusivity is seen as a strong lever for gaining notoriety. However, it’s worth noting that there is one brand in the ranking, Stone Island, that exclusively offers a 100% men’s selection.
The sneaker trend has also played a significant role in making certain brands influential. Sneakers account for 56% of the footwear offerings within the top 20 brands on the Lyst Index. Brands such as Off-White, Balenciaga, and Gucci dominate this category. Additionally, 22% of orders on Lyst include a pair of sneakers, showcasing the popularity of this type of item.
Despite the minimalist trend, visible branding still holds sway. More than half (57%) of the most popular products on the Lyst Index display a prominently visible logo. This serves to enhance the brand’s influence by publicly showcasing its appeal.
When it comes to pricing, the top 20 brands offer a range of options. 14% of their products cost less than $200, 29% range from $200 to $500, and 17% fall between $500 and $750. Finally, 40% of them have a price tag above $750. The average basket on Lyst comes to $510.
The social influence of a brand’s creative director also plays a crucial role in their visibility. The majority of the top 20 brands on the Lyst Index are led by a creative director with an average of two million followers. Olivier Rousteing at Balmain leads the pack with over 5.6 million Instagram followers.
A long-term strategic vision is another common denominator among popular brands. On average, the creative directors of the top 20 brands stay in their positions for 11 years, while CEOs average 9.5 years. This longevity adds to a brand’s notoriety and credibility.
European brands dominate the Lyst Index, with 95% of the “Hottest Brands” based in Europe. Half of them are located in Italy, and one quarter in France.
While historically established luxury brands rooted in Europe are highly sought-after, some younger labels are also able to thrive. 65% of the brands in the top 20 of the Lyst Index have a history of more than 50 years, but labels like Vetements and Off-White have still managed to make their mark despite being only five and seven years old, respectively.
Unsurprisingly, social media presence is a crucial aspect for popular brands. The top 20 brands on the Lyst Index collectively have an average of 24.3 million followers across their social media platforms.
Leveraging celebrity momentum can create buzz around a brand. For example, mentions of Versace on social media reportedly increased by 5,822% within 24 hours of Jennifer Lopez appearing in their Spring/Summer runway show.
Establishing collaborations or expanding into new areas of expertise can also drive a brand’s influence. The top brands often focus on diversifying into beauty and fragrance (75%), children’s wear (55%), and home decor (30%).
Lastly, sustainable commitments promoted by brands have a significant impact on their notoriety. Half of the leading brands named by Lyst in their latest ranking have signed the G7 Fashion Pact, and 40% have expressed ambitions for carbon neutrality, following the example set by the Kering Group’s fashion houses.
In conclusion, a brand’s popularity is influenced by several factors including offering for both men and women, capitalizing on sneaker trends, visible branding, pricing strategy, the presence of an artistic director, long-term strategic vision, European heritage, social media presence, celebrity endorsements, diversification, and sustainable commitments. All of these factors contribute to a brand’s success and notoriety in the fashion industry.
Useful links:
1. Vogue Business: Technology Changes in the Luxury Fashion Industry
2. Forbes: The Importance of Sustainability for Heritage Luxury Brands
