Miu Miu ruled 2024, but Coach has just broken into The Lyst Index’s top five. As more accessible brands gain ground, what’s next for fashion?
Miu Miu is officially the hottest brand of the moment. According to the latest Lyst Index, Miuccia Prada’s powerhouse label has clinched the top spot for the fourth quarter of 2024, cementing its place as a favourite with its chic, playful, and rebellious aesthetic. Saint Laurent and Prada follow closely in second and third place, respectively, but the rest of the list presents a fascinating shake-up, featuring both established names and rising disruptors. Coach and Ugg, for example, are rapidly emerging as luxury’s new rivals, climbing up The Lyst Index’s Hottest Brands chart. This raises the question: Should high-end labels be concerned as fashion consumers reassess the value of spending on premium items and rediscover more accessible, contemporary options? Let’s explore.
As Miu Miu Reigns, Accessible Brands Challenge Fashion’s Elite
The year 2024 marked significant shifts in fashion, as reflected in the changing rankings of brands across The Lyst Index’s four quarterly reports.
Miu Miu dominated, securing the top spot in three of the past four quarters, with only Loewe interrupting its reign in Q2. Meanwhile, Prada remained firmly in the Top 3, while Saint Laurent steadily ascended into the Top 5.
However, the broader fashion landscape is evolving, with more accessible yet contemporary brands like COS (part of the H&M Group) and UGG (part of Deckers Brands) gaining momentum.
Coach’s Unexpected Surge: The Affordable Brooklyn Bag and the Power of Personalisation
One of the biggest surprises of the fourth quarter is the rise of Coach. The American heritage brand, now owned by Tapestry, has catapulted ten spots to become the fifth hottest brand, fuelled by a 65% increase in quarterly demand and an astounding 332% spike year-over-year.
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Leading the charge is the Brooklyn bag, which claimed the title of Hottest Product in The Lyst Index, with searches surging 46% in Q4.
Meanwhile, the Coach cherry bag charm taps into Gen-Z’s passion for customisation, underscoring a broader trend toward adding accessories. Consumers are increasingly drawn to quirky charms, pins, and scarves to personalise their bags and express their individuality. In fact, searches for bag charms on Lyst surged by 77% in the final quarter of 2024.
How Nostalgia and TikTok Made UGG 2024’s Surprising Success
However, the true standout story of late 2024 belongs to Ugg. The iconic brand from the 2000s has secured a spot on The Lyst Index’s Hottest Brands chart, claiming an impressive 10th place out of 20. This rise in popularity is due to an extraordinary surge in demand—UGG searches have skyrocketed by 358% over the past three months, with a 12% increase year-on-year.
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On TikTok, “Mini UGG outfit inspo” has been trending non-stop, and the Ultra Mini Boots have become the second most sought-after product in the fourth quarter. Clearly, nostalgia is working its magic.
Should Quiet Luxury Be Concerned by COS’s Ascent?
Despite the ongoing popularity of bold statement pieces and viral trends, quiet luxury continues to thrive, with The Row securing the ninth spot on The Lyst Index for Q4, followed by Ralph Lauren in 18th place and Toteme in 20th.
Notably, a more affordable brand with a similar emphasis on understated elegance, COS, made its debut on the list. This surge in recognition is largely driven by its viral cashmere sweater—a sleek, budget-friendly alternative to The Row’s high-end staple.
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The Products You Didn’t Know You Needed, But Should
The Wardrobe NYC RHW blazer dress, a collaboration with actress and model Rosie Huntington-Whiteley and worn by Beyoncé at a Kamala Harris rally, has become the sixth most in-demand product following a 110% surge in searches for Q4.
Taylor Swift’s influence on fashion remains undeniable—her fondness for Charlotte Simone’s vintage-inspired coats has driven a 242% spike in demand, making them the eighth most coveted item of the quarter. Few have as much sway over fashion trends as Swift.
The New Hot Brands to Know
Among the fastest-growing brands, Stockholm-based label Our Legacy is making a significant impact with refined silhouettes and cult-favourite pieces. With LVMH Luxury Ventures acquiring a minority stake, the label’s influence is expected to rise. Its Camion boots are gaining popularity, with the brand now spotted on celebrities like Eddie Redmayne, Paul Mescal, and Devin Booker. According to The Lyst Index 2024, Our Legacy saw a 22% spike in demand in Q4.
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DeMellier’s sleek, European-made handbags are also on the rise, with searches up 119% in the final quarter of 2024 after being spotted on Meghan Markle and Sofia Richie, particularly the Midi New York bag.
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For sneakerheads, Japanese label Auralee’s collaboration with New Balance on the Auralee x New Balance 990v4 sneaker—worn by seven-time Formula 1 champion Lewis Hamilton—has quickly become a coveted drop.
What’s Next for the Fashion Industry?
As heritage brands struggle to stay relevant, nostalgia-driven trends are taking over TikTok, and understated fashion continues to thrive, 2024 has proven to be a year of striking contrasts. While Miu Miu remains at the forefront, emerging disruptors are challenging the status quo, suggesting that the next seismic shift in fashion may be just around the corner.
Angelo Ruggeri
Journalist and Master Course Tutor & Fashion Styling Course Leader, Milan