Key Takeaways From the Q4 Lyst Index

Key Takeaways From the Q4 Lyst Index

Prada is the World’s Hottest Brand as Luxury Remains Resilient Among Economic Slowdown

By Mark Wittmer

Miu Miu may have been dethroned as fashion’s hottest brand, but it’s still Miuccia’s world: Prada has moved into the number one spot in Lyst’s 2023 Q4 report. A month after sharing its 2023 rundown for the year in fashion, the platform has shared its report on the final three months of the year, offering new details and insight on the shifting tides of fashion demand.

The Lyst Index is a quarterly ranking of fashion’s hottest brands and products. Lyst is a fashion technology company and premium shopping app, used by more than 200 million people each year to browse, discover and buy items from brands and stores. The formula behind The Lyst Index takes into account Lyst shoppers’ behavior, including searches on and off platform, product views and sales. To track brand and product heat, the formula also incorporates social media mentions, activity and engagement statistics worldwide, over a three month period.


  1. Industry Leaders
  2. Breakout Brands
  3. Hot Product

Industry Leaders

Prada moved up from third position in the Q3 index to take the top spot as the most buzzed-about brand for the final quarter of the year. In addition to its much-lauded runway shows, Prada drove engagement by moving forward on many creative fronts, from a partnership with Axiom Space on NASA’s lunar spacesuits to opening the Pradasphere II exhibition space in Shanghai, as well as campaigns that made strong use of both a traditional editorial approach and the kind of playful digital series that thrives on TikTok.

Though it dropped one place from its number-two position last quarter, Loewe remained one of the most influential brands in the game, thanks in large part to its viral campaign starring the inimitable Maggie Smith.

A notable newcomer is The Row, which has been steadily building its status of ultra-covetability over the years. Lyst reported that searches for the “quiet luxury” leader were up 93% in the quarter, thanks in large part to skyrocketing demand for its Margaux bag, which got a viral boost from being worn by the likes of Kendall Jenner, Zoë Kravitz, and Jennifer Lawrence to become the quarter’s hottest piece.

While much of the rankings show little shifting from the previous quarter, there are some identifiable patterns. Skims climbed three places to 14 thanks to the internet response around its provocative nipple bra, while Ugg – the only other non-luxury brand on the list – returned after not making the top 20 last quarter, propelled by digital nostalgia and a revamped strategy that includes unique collaborations and a high-speed release schedule. A year after being “canceled,” Balenciaga has slowly but surely climbed its way back up, jumping up two places to the number 12 spot. Following buzzy shows, its Erewhon collaboration, and the announcement of brand ambassadors like Michelle Yeoh and Kim Kardashian, demand for Balenciaga products increased 7% on Lyst this quarter, inviting the question as to whether some brands are just too big to cancel.

Breakout Brands

Propelled by a fresh design approach and a hit Netflix documentary that spawned a rich-girl must-have T-shirt, Victoria Beckham was the defining breakout brand for the quarter, with searches up 34 percent. Close behind was Ralph Lauren, who got a big boost thanks to fitting perfectly into Taylor Swift’s miss Americana wardrobe, while searches for sneaker brand On gained a whopping 592% this quarter following a collaboration with Loewe and being worn by Zendaya.

Hot Product

After The Row’s Margaux bag, the hottest products for the quarter were Victoria Beckham’s Frame buckle belt, Miu Miu’s kitten heels, Adidas’ Country OG sneakers, and Prada logo loafers. In addition to Adidas, the remaining top 10 hottest products – which include a Cos coat, Ralph Lauren ball cap, Ugg slippers, and Skims boxers (a brilliant move from Kim Kardashian to launch a perfect boyfriend present in the month leading up to the holidays) show that luxury buzz may not always translate to sales – and when they do, they tend to take the form of more accessible, staple pieces.