Luxury squeeze, personal uniforms, and American heritage: Insights from Lyst's VP of brand

The Lyst Index has become a key indicator in determining both the success and decline among top fashion players. Despite the market’s generally dynamic nature, recent Lyst findings have pointed to a degree of stability in the industry, with certain brands consistently maintaining top positions over extended periods. Concurrently, heritage labels are experiencing a surge in popularity, while major sportswear brands are actively working to regain relevance.

In conversation with FashionUnited, Lyst’s VP of brand, Katy Lubin, discusses the shifting preferences of the luxury consumer, the reign of heritage labels, and opportunities under the guidance of new parent company, Zozo.

The Lyst Index has been relatively stable, with some brands retaining top spots. What does that say about consumer activity?

Stability at the top of the Lyst Index typically reflects two things. First, those brands have built genuine relationships that bring shoppers back repeatedly. Second, it reflects more selective consumer behaviour. When shoppers feel more constrained, they tend to narrow their focus, spending less time experimenting with new brands and returning to familiar labels, even as they take longer to compare and make decisions.

What impact, if any, does creative director reshuffling have on consumer demand? Does it influence their choices?

A change in creative leadership can draw attention, but consumer response ultimately comes down to the product. When the creative direction is strong, that initial attention shows up as increased curiosity, with a surge in search and browsing activity, but strong product will be the deciding factor as to whether the initial interest converts.

Many brands are returning to heritage. Is this reflective of consumer demand? Are younger luxury shoppers seeking craftsmanship and storied identities?

More than anything, consumers are seeking credibility. Heritage can be a very efficient way to signal credibility, but only if it is expressed through a product that feels current.

Younger shoppers are not allergic to craft or history; what they are allergic to is irrelevance. They will engage with heritage when it comes with clear design choices, strong styling, and a point of view that works with today’s wardrobe and style codes.

You also see younger shoppers expressing a desire for fewer, better things. That shows up as highly tuned attention to material, fit, construction and quality, as well as a lower tolerance for ambiguity and overreach in pricing. Consumers are far more analytical and discerning than some brands sometimes give them credit for.

Sports brands like Nike and Adidas are trying to regain pace. What can these brands learn from premium counterparts?

Premium brands tend to be disciplined about when, how and what they release. For sports brands, it can be harder for new releases to stand out, when there is constant competition and a market saturated with products and promotions.

Premium brands avoid that by limiting frequency and maintaining clear, consistent design, meaning customers understand what’s new and why it matters. The takeaway isn’t that sports brands should try to become luxury brands, but that being more deliberate about what they put into the world, and how often, can make a meaningful difference in how products are received.

Quiet luxury continues to be referenced. Are there other movements that could lead next year? What is driving them?

Quiet luxury is still present, but the bigger shift is toward specificity. Consumers are moving away from rigid trend adoption and instead defining a personal uniform. We’re seeing stronger points of view, more intentional styling, and bolder combinations that feel personal rather than prescribed.

This is also driven by a more considered approach to shopping. With purchases under greater scrutiny, pieces need to earn their place in a wardrobe. That means versatility, longevity, and a sense of investment. Tailoring, elevated essentials, and statement accessories are resonating because they elevate a look without feeling excessive.

Heritage American labels like Gap, AEO and Ralph Lauren are enjoying a resurgence. What are they doing to gain ground?

They are doing the fundamentals well, and that means clear product, familiar categories, a tighter, highly relevant point of view. A lot of consumers want reliability right now. They want to know what they are buying, how it fits into their life, and why it is worth the money.

When heritage brands lean into culture, it’s with discipline and often with bold bets. Gap’s Katseye denim ad is a good example of a heritage brand showing up in a current way without losing its core values. Ralph Lauren is a similar story. When Taylor Swift wore one of their dresses for her engagement announcement, the response was immediate because the brand cues were already deeply familiar.

Cultural relevance shows up through repeated, consistent signals. That’s what allows these brands to compound momentum rather than rely on one-off moments.

Do you think brands like Skims, which rely heavily on product and virality, can retain momentum long-term?

What determines staying power is whether a brand can convert attention into consistent, repeat demand. Skims has established product credibility, and the long-term test is whether it continues to earn repeat behaviour as it scales. That is the defining challenge for any high-velocity brand today.

Recent data shows a continued squeeze on the luxury market. Do you see any hope on the horizon?

Luxury demand still exists, but it is more selective and deliberate. Shoppers are comparing, waiting, and rejecting impulse buys. Brands that acknowledge this shift and respond with clarity and precision are the ones holding their ground.

Demand is consolidating around brands with strong identity and clear value, where the customer understands exactly what they are paying for. The pressure is greatest in the middle. When positioning feels ambiguous, consumers hesitate and once hesitation sets in, re-engagement becomes much harder.

Zozo acquired Lyst early in 2025. How has this shift aided Lyst's growth strategy? What opportunities have emerged for the company under Zozo's umbrella?

From a brand and product standpoint, what’s been most compelling about joining Zozo is the shared vision to improve fashion shopping online on a global scale. There’s strong alignment in how we think about technology and the customer experience. Lyst has spent more than a decade developing its personalisation algorithms, while Zozo brings deep expertise in user experience and customer discovery, providing a real opportunity to learn from one another.

It also broadens our perspective on how discovery works globally, given Zozo’s focus on the Japanese market.

Lyst has been focused on AI-driven discovery. How has this transformed the platform to benefit user and brand experience?

The truth is that most people do not shop with perfect intent, but with a half-formed idea: a silhouette, a reference, a colour, a feeling. Maybe they saw something on a creator, or in a runway clip, or a friend’s Instagram photo, and they start searching from there.

AI helps us interpret user behaviour and connect them quickly to relevant products across a very large catalogue. For brands, this means stronger alignment between shopper demand and the products being shown. Items appear at moments of higher intent and in more relevant contexts.