Nike is officially the hottest brand in the world after topping the quarterly Lyst Index – the first time the award hasn't been given to a luxury fashion house
- Nike saw a 75% increase in digital sales, which is 30% of total sales
- Beat Off-White, Gucci and Balenciaga in second, third and fourth places
- Brand has seen an increase in demand for lounge wear and athletic wear since the ban
- For the first time since the start of the Lyst Index in 2017, this luxury fashion brand is not top
Nike is officially the hottest brand in the world right now after topping the quarterly Lyst Index.
The sportswear giant climbed two places ahead of Off-White, Gucci and Balenciaga, who were second, third and fourth respectively.
It is the first time that a luxury brand has not taken first place since the global fashion search platform launched its index in 2017.
To compile the results, Lyst analyzes the online shopping behavior of more than nine million buyers per month who search, search and buy clothing in 12,000 designers and stores online.
Nike is officially the hottest brand in the world right now after topping the quarterly Lyst Index. In the picture: archive picture
The formula behind The Lyst Index takes into account global Lyst and Google search data, conversion rates and sales, as well as mentions of brands and products in social media and engagement statistics worldwide over a period of three months.
According to the report, Nike has seen a 75 percent increase in digital sales, which accounted for 30 percent of total sales, since April.
With millions of people working from home and looking for comfortable gear and workout gear during the lockdown, demand for loungewear and sports grew 106 percent, giving the brand a boost.
Nike's response to George Floyd's murder in the United States and subsequent widespread protests against Black Lives Matter is also believed to have contributed to his success.
The brand has pledged $ 40 million to social justice organizations and changed their famous slogan to "Don & # 39; t Do It" to promote their anti-racism message in a video that goes beyond is popular on Instagram five million times.
Cancellation of events such as the Met Gala and Men's Fashion Week may have affected luxury brands ’performance, with some struggling to generate as many impressions as usual. Pictured: Kim Kardashian West at the event in 2019
Lyst results contradict recent reports that Nike may see a 34 percent decline and more than $ 5.5 billion in sales decline due to store closings, delivery issues, and this year's NBA season break.
However, the commitment to digital commerce has had a positive impact. Having already announced that it will achieve 30 percent digital revenue by 2023, Nike has set a new 50 percent goal in the near future after already reaching its previous milestone.
Cancellation of events such as the Met Gala and Men's Fashion Week may have affected luxury brands ’performance, with some struggling to generate as many impressions as usual.
After three consecutive quarters in first place, Off-White slipped to second place, while Balmain made up six places to re-enter Lyst's hottest brand index.
French fashion house Jacquemus also rose four places to 11th after traffic on Lyst increased 61 percent.
The Lyst Index Hottest Brands Q2 2020
2. Cream colored
6. Saint Laurent
10. Bottega Veneta
15. Alexander McQueen
19. Stone island
20. Fear of God