Spanish fashion brand Balenciaga has been named as the hottest brand in fashion, jumping two places and stealing Gucci’s crown.
A deep analysis of 4.5 million data points - including sales, search and consumer perception - five million products and 12,000 brands were ranked by fashion sites Business of Fashion and Lyst.
Gucci fell off the top spot but only dropped one place - but things look good long-term for the brand; it recently launched a home furnishings line and has announced a collaboration with Dapper Dan.
Balenciaga turned a car mat into a £1,795 skirt
Perhaps the most surprising shift is the the jump by Virgil Abloh’s Off-White from 34th place to third place - it takes the place of Kanye West’s Yeezy brand, which has now fallen out of the top 10.
Abloh is known for elevating streetwear by using high-end production values, creating clothes which are aimed squarely at well-heeled millennials and Gen-Z consumers.
It’s working; last year Abloh said its business has experienced triple-digit growth year on year.
The Top 10
Balenciaga
Gucci
Off-White
Vetements
Givenchy
Valentino
Saint Laurent
Stone Island
Moncler
Raf Simmons
The biggest boost to business was a recent collaboration with Nike, in which he reimagined 10 classic sneaker models including the Air Jordan 1 and Air Max 90.
Generation Z - the younger generation that’s arrived after millennials - are helping to boost the industry in high-end streetwear.
They grew up in the era of hype culture and product drops, and will only get richer as they get older.
An upcoming collaboration with Supreme helped Stone Island jump 33 places this quarter.
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Drake’s extensive collection of Stone Island clothing probably helped, too.
That’s one example of the increasing influence of rappers, strengthening the marriage between fashion and rap which was first consummated in the 1980s.
Rappers are becoming brand ambassadors, and A$AP Rocky has appeared in Dior Homme campaigns, Kendrick Lamar has fronted Calvin Klein ads, and Pharrell now co-owns G-Star Raw.
Some, meanwhile, cut out the middle-man and create their own brands; Kanye West’s Yeezy collaboration is one of the most in-demand shoe brands in the world.
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