Social media & marketing
Social media data plays a part in determining The Lyst Index brand rankings, so perhaps unsurprisingly all of the top 20 brands have a robust owned and earned social media presence. On average they have 24.3m followers each across Instagram, Facebook, Twitter, YouTube, LinkedIn, and Weibo combined. Over the last quarter, Nike, Gucci, and Versace were the most talked-about of the top 20 brands on social media. Together, the top 20 brands’ names have been used as hashtags over 416m times on Instagram, while those active on YouTube have amassed more than 769m views between them.
Nike is the most followed brand on this quarter’s Index with over 137m followers (not including its subsidiary accounts such as @NikeSportswear and @NikeWomen, which also have millions of followers). In second place is Gucci with 62.6m followers, followed by Burberry at 42.8m. Chanel (77.8m), Louis Vuitton (70.5m) and Dior (56.3m) are heavily followed but are not currently included in The Lyst Index due to their distribution models.
But having the largest social media following isn’t essential for success in the Index: Vetements (3.6m followers) and Balenciaga (13.2m followers) have made the hottest brands list of The Lyst Index every time, while Off-White (8.6m followers, or 13.3m including Virgil Abloh’s personal following) has placed first or second for the last 6 quarters running.
Celebrities and influencers remain an important way for many of the top 20 brands to inspire consumers. This quarter Gucci continued its partnership with Harry Styles, Fendi announced a collaboration with Nicki Minaj and social media mentions of Versace spiked 5822% in the 24 hours following Jennifer Lopez’s appearance at the brand’s S/S ‘20 show.
Collaboration with other brands, as well as companies in different verticals, is also a part of the strategy for many of the top 20 brands. Off-White and Vetements are among the most prolific collaborators, between them having recently partnered with brands ranging from Rimowa, Reebok and Canada Goose to Ikea and Evian. Hospitality brand extensions, from the Gucci Osteria restaurant in Florence to Prada’s acquisition of the Marchesi 1824 patisserie, are also a feature of the top 20. 75% have a fragrance or beauty line, 55% offer childrenswear and 30% have a homeware range.
Sustainability and corporate responsibility are increasingly important for the top 20 brands, with 50% having signed the G7 Fashion Pact and 45% having sustainability information on their website. 40% of the top 20 brands, or their parent companies, have pledged to go carbon neutral, while Balmain, Burberry, Gucci, Prada and Versace have publicly committed to stop using fur.