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Prada Maintain Position as ‘World’s Hottest Brand’ in Q1 2023 Report

Prada Loafer Badge
via Prada

The Lyst Index has become one of the most prominent sources of fashion brand rankings each quarter, helping put sneaker companies in context with luxury labels. Results for Q1 2023 have just been released, and while there have been some shakeups in the standings, what hasn’t changed quarter-on-quarter is Prada’s status as the ‘world’s hottest brand’.

After knocking Gucci off the top perch in Q4 2022, Prada have defended their position after racking up €3.252 billion in retail sales for 2022, according to Lyst. Gucci tumbled to ninth position, capping off a somewhat transitional period for the fashion house that saw the departure of long-term creative director Alessandro Michele last November.

Miu Miu, Loewe and Versace upgraded spots among the top 10 thanks to key collaborations and ambassador partnerships. LVMH brands Dior and Louis Vuitton dipped to 11th and 13th, respectively. The embattled Balenciaga dropped to 18th following fallout from fashion media and the wider public.

Of course, this is Sneaker Freaker. One footwear company did stay in the top 20: Nike. In the greater fashion sphere, the (who did not feature in the top rankings) collaboration sparked mainstream interest in both brands, which Lyst deemed a highlight in their 12th-place result.

The eponymous index is compiled by Lyst, a ‘fashion technology company, and premium shopping app’, who have collated data from over 200 million annual users and other metrics, including social media chatter and search behaviour. See more of the Q1 2023 report here.

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