Nike recently climbed two places to become the hottest brand in the world in The Lyst Index. It’s the first time since the index began that a luxury fashion brand has not taken the top spot. Nike was propelled by a 106 per cent increase in demand for loungewear and activewear, as consumers sought comfortable clothes for home, exercise and outdoor activities.
A series of powerful earned and owned brand moments boosted the brand throughout the quarter, Lyst said on its website. These include twisting of its famous slogan to ‘Don’t Do It’ to promote its anti-racism message.Nike recently climbed two places to become the hottest brand in the world in The Lyst Index. It's the first time since the index began that a luxury fashion brand has not taken the top spot. Nike was propelled by a 106 per cent increase in demand for loungewear and activewear, as consumers sought comfortable clothes for home, exercise and outdoor activities.#
The success of Nike in The Lyst Index also reflects the way coronavirus is resetting shopping patterns and habits, and accelerating the shift towards digital commerce, the company said.
Although the firm reported a revenue hit from shuttering bricks-and-mortar stores and shipping fewer products to wholesalers, its strong commitment to digital proves the tide is turning, the London-based fashion company observed.
Nike had previously announced it intended to reach 30 per cent digital sales by 2023, but having already reached that milestone this year, the firm has set a new target of 50 per cent digital sales in the near future.
Off-White remains high in second position, despite having slipped from the top spot after three successive quarters there, while Balmain re-enters The Lyst Index hottest brands ranking having risen six places.
Fibre2Fashion News Desk (DS)
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