The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Usually fashion’s It bags come from top luxury brands like Dior, Prada or Gucci — but not this season.
Uniqlo’s sell-out $20 shoulder bag was named the hottest product in the three months January through March by fashion tech company and shopping app Lyst, which analyses web searches, product views and sales, and social media data to compile a ranking of the most buzzed about brands and products each quarter, dubbed ‘The Lyst Index.’
It comes after the bag went viral on TikTok, generating 59 million views on platform.
Prada Group topped the ranking of hottest brands, with its flagship label Prada and sister brand Miu Miu claiming first and second place.
Meanwhile, Kering brands Gucci and Balenciaga, which historically dominated the ranking’s top spots, plummeted down the list. Gucci slid seven places to ninth position, its lowest ranking since the Index began in 2017, while Balenciaga fell seven places to 18th position.
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The company’s recent introduction of a marketplace model has led to a flood of listings for new, high-end goods by third-party sellers. Some brands aren’t happy, but there may not be much they can do.
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The US Federal Trade Commission filed a long-awaited antitrust lawsuit against Amazon on Tuesday, charging the online retailer with harming consumers through higher prices in the latest US government legal action aimed at breaking Big Tech’s dominance of the internet.
Malls across the US have been ‘flash robbed’ by groups of about 20 to 30 suspects stealing retail merchandise.