China’s favorite fashion brands are streetwear, Asian or Y2K

What happened For a second consecutive year, Fear of God has claimed the title of the top fashion intellectual property (IP) in China. This is according to “The 2023 Global Fashion IP List,” an evaluation of global fashion brands by Fashion Exchange and Alibaba’s data platform CBNData. The report examines nearly 400 fashion IPs based on their consumption influence, Baidu search engine performance, as well as their popularity on Weibo, Xiaohongshu, and Douyin, identifying the top 100 players. The American luxury brand is followed by Goodbai, Chinese actor Bai Jingting’s streetwear label, which jumped seven places from last year to the second spot. Entering the top 10 for the first time are Maison Margiela (No. 3), Jackson Wang’s Team Wang (No. 6), Y-3 (No. 7), Japanese artist Yayoi Kusama (No. 9), and Acne Studios (No. 10). In contrast, Drew House, Thom Browne, and Hong Kong star Shawn Yue’s streetwear label Madness, which were among the highest rankers in 2022, are absent from 2023’s top 10. Looking at the top 20, half the brands are from China, Japan, or South Korea, reflecting Asia’s increasing influence on the global fashion scene. The Jing Take Like in 2022, streetwear continued to dominate online conversations and consumption in 2023. Many of the top 20 IPs could fall into this category, including Goodbai, Team Wang, Y-3, Supreme, and Bape. As Asia’s top fashion IP, Goodbai has worked hard to gain recognition beyond its celebrity founder. In 2023, the brand opened its first physical store in Shanghai, collaborated with Crocs and KFC, and released several trendy collections that resonated with China’s Gen Z. A testament to its growth, the brand became a hot topic on Weibo on January 30, 2024, when it obtained patent authorization for its popular Dum Dum shoe (蓬蓬鞋), with the related hashtag garnering 97 million views. “Like as an actor, [Bai Jingting] relies on sincerity, quality, and creativity to impress customers. What he wants to do is long-term business with customers rather than short-term business with fans,” writes Weibo user Honglulxue (@红炉绿雪). At the same time, the list reflects China’s growing appetite for “quiet luxury” and the “clean fit” aesthetic. Jerry Lorenzo’s Fear of God, for instance, offers elevated, sophisticated luxury apparel in monochrome black, beige, white, and gray — seamlessly aligning with the inconspicuous luxury trend. Similarly, French luxury brand Lemaire, securing the 20th position, is renowned for its chic and minimalist designs. Further down the rankings, fashion brands such as Diesel, Mugler, Blumarine, and Courrèges have secured a place in Fashion Exchange’s top 100 for the first time. This resurgence can be attributed to the worldwide revival of the Y2K trend, with Chinese fashionistas and K-pop stars alike decking themselves out in pastel pinks and blues, denim, and butterfly tops. “Because Mugler itself does not cater to mainstream aesthetics, it is precisely the unique and avant-garde design that attracts me. There is no deliberate emphasis on female characteristics, but there is a focus on highlighting the sense of lines,” writes netizen Wangjiujieer (@王纠结er) on Xiaohongshu, where the hashtag “Mugler” has 65.5 million views. Ultimately, Fashion Exchange’s report not only reflects the rapidly changing nature of China’s consumption landscape, but it also provides insight into the commercial and social value of each fashion IP. As global brands begin rolling out their China marketing strategies, these rankings could be useful for identifying co-branding and collaboration opportunities in the new year. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

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China’s favorite fashion brands are streetwear, Asian or Y2K