The Lyst Index for Q3 2021 has revealed that Balenciaga is the world’s most searched-for brand. The Parisian label secured the top spot with a series of high-profile stories throughout the year, such as its return to haute couture after 53 years in July. It teamed up with Kanye West for his Donda album launch in August and then dressed Kim Kardashian in an all-black look for the Met Gala in September. Creative director Demna Gvasalia took a plunge into the digital world and collaborated with Fortnite to release digital clothing and accessories for its players. Balenciaga aired a special episode of The Simpsons during its fashion show for Paris Fashion Week, dressing the characters in cartoon versions of its runway collection.
Thanks to Gvasalia’s finesse, Balenciaga has overtaken Gucci as the most searched brand on Lyst. However, Gucci has reported an 86 per cent increase in revenue in Q2 and also a spike in the press thanks to the release of the trailer for House of Gucci. In third place is Dior, following the opening of its new “Christian Dior: Designer of Dreams” exhibition opened in the Brooklyn Museum in New York. Meanwhile, Prada and Louis Vuitton placed fourth and fifth respectively in the list.
The Lyst Index is a quarterly ranking of fashion’s hottest brands and products. It is a global shopping platform that boasts 150 million users to browse and buy items from 17,000 brands and stores. According to Lyst, the formula behind the index takes into account shoppers’ behaviour, which includes conversion rates and sales, to come up with the rankings. It also includes Google search data as well as social media mentions and engagements over a three-month period. Elsewhere, major luxury companies such as LVMH, Kering and Hermès have all released their latest quarterly financial results. Leading the pack is Hermès, which has grown 31.5 per cent for Q3 and that amounted to revenues of €2.37 billion in the three months leading to September 30, 2021.