Balenciaga knocks Gucci off top spot as world's most sought-after brand (2024)

Balenciaga is now the most popular brand in the world.

After the reign of the house of Gucci, it’s now Balenciaga’s turn to take the position of most popular, or at least most sought-after label online. With its bold fashion designs, some of the buzzy label’s pieces, including the Neo Classic bag, are now considered the most coveted in the world.

A touch of daring, a hint of extravagance, and a good dose of innovation based on new technology… This is clearly the winning formula for winning over the hearts and minds of internet users, especially those of the younger generations, when it comes to fashion.

This is the magic formula employed by Balenciaga and Gucci, which are now at the top of the hottest luxury brands in the world, according to the latest report The Lyst Index from the fashion search engine Lyst.

Balenciaga knocks Gucci off top spot as world's most sought-after brand (1)

Balenciaga named Lyst’s most popular brand

Balenciaga has held this top spot for the second consecutive quarter, appealing to an ever-widening audience thanks to its numerous collaborations, including “Fortnite” and “The Simpsons,” and its advance into the metaverse. And the label is not expected to stop there, with a highly anticipated collaboration on the way with Yeezy Gap, a project featuring the ultra-famous Kanye West and Gap.

Italian luxury label Prada completes the top three, moving up a spot this quarter, buoyed by the enthusiasm of social network users for its iconic pieces. Notably absent is the label Off-White, founded by late designer Virgil Abloh, who passed away last November.

However, the search platform reminds us that the brand has occupied the first place of The Lyst Index five times since the creation of the ranking 18 quarters ago.

Balenciaga knocks Gucci off top spot as world's most sought-after brand (2)

Cozy winter pieces

While homewear, which was very popular at the beginning of the pandemic, is no longer at the forefront, the arrival of winter has put fashion fans’ infatuation with colorful pieces on hold, and is giving way to cozier, more cocooning items.

In women’s wardrobes, this translates into an interest in the ultra-chunky quilted nylon slip-ons from Prada, in fifth in the hottest products ranking as well as in the crochet hood with integrated mask from Miu Miu (9th) and the Tazz slippers from UGG (10th).

At the top of Lyst’s ranking is the Neo Classic bag by Balenciaga, a small-sized model, which comes ahead of an accessory that has become a must-have in recent months: the Re-Nylon bucket hat by Prada. Which isn’t surprising considering that the piece was the subject of a host of videos, related to a challenge, on the social network TikTok.

Balenciaga knocks Gucci off top spot as world's most sought-after brand (3)

On the men’s side, the 1953 Horsebit loafers from Gucci are the hottest pieces, ahead of the Seamaster Diver 300 watch from Omega and the Re-Nylon down jacket from Prada.

Read the full report here.

This article was published via AFP Relaxnews.

Balenciaga knocks Gucci off top spot as world's most sought-after brand (2024)

FAQs

Is Balenciaga owned by Gucci? ›

Kering (French: [kɛːʁiŋ]) is a French-based multinational corporation specializing in luxury goods. It owns the brands Gucci, Balenciaga, Bottega Veneta, Yves Saint Laurent, Creed and Alexander McQueen.

Which is more expensive Balenciaga or Gucci? ›

No luxury brand is ever cheap for an average buyer, and certainly not Balenciaga or Gucci. However, Gucci's products are generally more expensive than Balenciaga's.

What did Gucci and Balenciaga do? ›

The Gucci Balenciaga Collab partnership nods to counterfeit culture, branding, and logomania. It seems to have catalyzed a handful of different ideal collaborations following the luxury sphere, including Fendace, Fendi, and Versace, Fendi, and Skims.

Who bought Gucci? ›

Founded in 1921 by Guccio Gucci, the company began as a leather goods and luggage retailer before rapidly expanding under the direction of Gucci's sons. The company went public in 1995 after a long and dramatic period of family infighting and is now owned by the French multinational corporation Kering.

Is Prada owned by Balenciaga? ›

Kering was formerly known as PPR and it also owns other luxury brands such as Saint Laurent, Bottega Veneta, and Balenciaga among others. On the other hand, Prada is owned by the Prada Group, or PraKt. The Prada Group also owns several other high-end brands, including Miu Miu, Church's, and Car Shoe.

Are Louis Vuitton and Balenciaga owned by the same company? ›

While LVMH and its competing fashion conglomerate Kering are known for owning some of the biggest names in fashion—such as Louis Vuitton, Fendi, and Celine for the former, and Gucci, Balenciaga, and Saint Laurent for the latter—there are a number of labels you may not realize are tied to other companies.

What is the richest luxury brand in the world? ›

The United States has long been the largest regional market for luxury goods and it was estimated to continue to be the. LVMH (Louis Vuitton Moet Hennessy) was the most valuable luxury brand in the world, with a brand value of about 124.8 billion U.S. dollars in 2023.

What is the #1 clothing brand? ›

1. Nike – United States ($31,307M)

What's the most expensive brand in the world? ›

Highlights: Most Expensive Luxury Brands Statistics
  • The Louis Vuitton brand is estimated to be worth $47.2 billion.
  • Gucci is the second most valuable luxury fashion brand, estimated at $34.6 billion.
  • Rolex was named the world's most reputable luxury fashion brand in 2020.
Feb 7, 2024

Have Balenciaga sales gone down? ›

Its reputation in tatters, brand revenues plummeted. Through the first nine months of the year, Kering's Other Houses, where Balenciaga reports, is down 10%, from $3.1 billion to $2.9 billion, and in the third quarter alone, it took a sharp 19% dip.

What did Balenciaga get caught for? ›

The backlash against the images was swift, with the hashtag #cancelBalenciaga trending across Twitter and TikTok and many accusing the brand and its creative director, Demna, of condoning pedophilia and child exploitation.

Is Gucci doing well financially? ›

Kering owns some 13 brands, but Gucci accounted for roughly one-half of Kering's $21.2 billion (€19.6 billion) in revenues last year, as overall sales dropped 4% from 2022 and Gucci was down 6%. Kering also underwent a management shakeup and Gucci appointed of a new creative director in 2023.

Who owns most of Gucci now? ›

Luxury goods company Kering owns Gucci today. Kering is headquartered in Paris, France, and is majority-owned by the Pinault family. Kering also owns several other luxury brands, including Balenciaga, Bottega Veneta, Alexander McQueen, Stella McCartney, and Yves Saint Laurent.

Does Tom Ford own Gucci? ›

In 2001 French holding company Pinault-Printemps-Redoute took control of Gucci. Ford's inability to come to terms with the corporation regarding his contract precipitated his departure from Gucci in 2004. The following year he founded the fashion house Tom Ford.

Does Gucci own Louis Vuitton? ›

No, Gucci is not owned by Louis Vuitton. Gucci is a part of Kering, another major luxury goods group. Louis Vuitton is under LVMH (Moët Hennessy Louis Vuitton).

Who does Balenciaga belong to? ›

Balenciaga SA (/bəˌlɛnsiˈɑːɡə/ bə-LEN-see-AH-gə) is a luxury fashion house founded in 1919 by the Spanish couturier Cristóbal Balenciaga in San Sebastián, Spain.

Who bought Balenciaga? ›

Kering acquired a 91% stake in Balenciaga in 2001 for an undisclosed sum. The French multinational then purchased the rights to the perfume brand, which likely made them the sole owner. The Pinault family controls Kering through the Artémis group, which holds a 41.7% stake in the Kering Group.

Is there a Gucci and Balenciaga collaboration? ›

Gucci Gucci x Balenciaga is a 2021 collaboration between Gucci and Balenciaga, two of the most iconic fashion houses of all time. It also represents the first time either label worked together.

Who owns the luxury brand Gucci? ›

Luxury goods company Kering owns Gucci today. Kering is headquartered in Paris, France, and is majority-owned by the Pinault family. Kering also owns several other luxury brands, including Balenciaga, Bottega Veneta, Alexander McQueen, Stella McCartney, and Yves Saint Laurent.

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