It has been quite a year, marked by significant shifts in the fashion industry. After the end of 2020's Q4 financial reports showed Gucci experiencing an 11% decline in year-on-year profit, many speculated about the brand's next move. The anticipation is over as Lyst’s Hottest Brands Index for the first quarter of 2021 has been released, and Gucci is once again at the top. This resurgence can be attributed to several factors: seasonless fashion, standout outfits worn by Billie Eilish and Harry Styles at the Grammys, the collaboration with The North Face, and the innovative digital sneakers partnership with Wanna. Following the challenging financial results of last year, it’s no surprise that Michele chose to make a bold statement by "hacking" into Balenciaga's subculture, reinterpreting its primary shapes through Gucci's distinctive vision.
Unexpectedly, Nike claimed the second spot, leaping from its previous position at number 11. This success is largely due to a reported 59% increase in digital sales. Additionally, the recent lawsuit scandal over the unauthorized "Satan Shoes" significantly boosted its visibility and sales.
Dior secured the third spot, marking its debut on the platform. Previously, its traditional and strategic selling approach had kept its sales data off Lyst. However, rising demand for second-hand and vintage Dior pieces, along with external data, now brings it into consideration. Key factors contributing to Dior's successful quarter include their AW21 Versailles virtual runway show, the appointment of Blackpink's Kim Ji-soo as a global ambassador, and the innovative Snapchat lens for trying on sneakers in AR.
Balenciaga closely follows in fourth place, with its success attributed to the brand's decision to go fur-free and the popularity of its glow-in-the-dark capsule collection.
