The Vogue Business Watchlist: Charting the rise of the hottest emerging brands

To receive the Vogue Business newsletter, sign up here. In the first edition of the Vogue Business Watchlist, we’re proud to present one of the most comprehensive studies of up-and-coming luxury fashion brands to date. As an extension to the Vogue Business Index, the Watchlist charts the rise of some of the most dynamic challenger brands in the industry, many of which are already going global or stealing share from well-established labels. On the surface, identity, values and digital agility all play a huge role in their success. Among the top five in the ranking, we have Telfar, a brand whose Black founder has changed the rules of the pre-order game; two brands, including Jacquemus, that wave the flag for LGBTQ+ representation in leadership; and three brands that have been in business less than 13 years, including Reformation and Ami Paris. This demonstrates the power of the digital age to bring new talent to the fore. The geographical range of the Watchlist, from the US and UK, to Denmark and Hungary, all the way to China and Japan, also shows us that great fashion has no borders. Some results have surprised us, with the levels of collaboration and digital engagement comparable to — and sometimes better than — brands with far bigger budgets. However, while we use a similar methodology to the main Vogue Business Index, measuring Watchlist brands against the core digital, omnichannel, ESG and innovation pillars, it’s important to recognise that these newcomers are not competing on a level playing field with those more established brands. When we set out to produce the Watchlist, we did so with the intention of creating a base level of understanding as to how these brands perform against key metrics. Very few of these players have been subject to robust studies that aim to measure their true potential so we are, as ever, data-driven in our approach. In this way, we not only showcase how and why some brands are excelling above their peers, but also where they are still falling short of consumer expectations. Many of these brands represent values that consumers care about, which is vital for building trust and brand loyalty. Yet, there are some capabilities that they will struggle to incorporate without the support of investors and industry champions. With the right mix of investment, technology and design genius, several of the Watchlist brands stand to become fierce luxury competitors on an international level. People power will also be crucial. Most of the brands reviewed have small, nimble teams. The benefits are speed and agility when it comes to pivoting around new trends and developing creative ideas into sell-out products. The drawbacks may include lack of diversity and the resources to formalise some of the practices consumers now expect as standard — such as ease of fulfilment and returns, or statements on transparency and labour conditions. Popularity alone will not fuel growth. These elements are becoming table stakes and will need to be addressed as they scale. There are many provocative lessons to be learned from this cohort, from how to capitalise on the cult of the founder, to the long-term value of building a business model centered on sustainability. It has also compelled us to evolve our way of evaluating what good looks like: for example, by adding a diversity in leadership lens to the ESG pillar. The strides these brands are taking in technology, creativity and representation hold a mirror up to the fashion industry. What’s more, many are leap-frogging stages of development, making it harder for mainstream brands to keep ahead of change. We expect that some of these brands, before long, will qualify for inclusion in the main Vogue Business Index, making them the hottest brands to watch in fashion. Comments, questions or feedback? Email us at feedback@voguebusiness.com. More on this topic: Vogue Business Index: Winter 2021 Update Dior ranks No. 1 in latest Vogue Business Index Resale, rental and NFTs: Vogue Business Index reveals top trends in innovation

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