Nike is officially the hottest brand of the last three months.
Global fashion platform Lyst, which analyses the behaviour of more than nine million shoppers, has released its findings from the last three months and in turn handed Nike its hottest brand accolade.
According to the report, Nike experienced a 75 per cent increase in digital sales over the last three months, which accounted for 30 per cent of the brand’s total revenue.
The surge in demand for loungewear and athleisurewear since April also gave the brand a boost, as Nike experienced a 106 per cent increase in demand for its comfiest offerings.
In the wake of the unlawful killing of George Floyd and the widespread protests which followed, Nike pledged $40 million to organisations furthering social justice. It also pivoted its social media to promote anti-racism messaging; in a video liked over 5 million times on the brand’s Instagram, Nike twisted its famous slogan to ‘Don’t Do It’.
It’s the first time since the Lyst Index began in 2017 that a luxury fashion brand has not taken the top spot (last quarter, the hottest brand was Off-White.)
The fashion platform’s findings are in stark contrast to recent estimates which suggested that Nike could experience a 34 per cent decline and lose more than $5.5 billion in revenue due to store closures, supply disruptions, and the suspension of this year’s NBA season.
