The 10 hottest fashion brands in the world right now

Up a grand 11 places since Q1. The only sportswear brand in the ranking, Nike shares are at an all-time high after the brand saw a major sales rebound in North America.

"They are becoming a halo brand," Jessica Ramirez, retail analyst at Jane Hali & Associates, told Reuters in June.

Rising nine places since Q1, Fendi cashed in on the logomania craze by reinventing its FF "Zucca" monogram.

Versace is the Index's biggest riser — climbing 21 places since Q1. Lyst says the brand has hit crime show "The Assassination of Gianni Versace: American Crime Story" to thank for its surge, as well as a string of Met Gala looks that stole the red carpet.

Down three places since Q1.

Kim Kardashian wore an oversized Vetements suit to meet Donald Trump at the White House in May.

Up three places since Q1. The Italian fashion house stole headlines in the last quarter for inspiring a drone fashion show in Saudi Arabia.

GQ slammed the idea of using drones as models at the time, writing: "Seriously, tech bros. Stay in your lane, we'll stay in ours."

Up two places since Q1. Givenchy artistic director Claire Waight Keller scored the biggest commission of 2018 when she dressed Meghan Markle for the royal wedding, which was watched by 29 million people.

Down one place since Q1. Balenciaga's ultimate "ugly" shoe has become ubiquitous at fashion events worldwide.

Its $850 platform Crocs made Lyst's Hottest Women's Product Index for 2018.

Up two places since Q1. A series of high-profile collaborations including Converse Chuck Taylor and Nike Air Vapormax have led to a spike in interest in Off-White, according to Lyst.

Taking the top spot this quarter is Gucci, up from second place in Q1.

Gucci's parent company Kering SA reported a 48.7% jump in same-store sales during the first quarter of 2018.

The luxury brand has exploded in popularity in recent months, especially amongst millennial and teen shoppers.

Gucci is benefiting from a resurgence in '90s style and capitalised with an ad campaign featuring Harry Styles.