These are the hottest fashion brands in the world right now

10. Burberry

Despite skepticism around its turnaround efforts, Lyst data shows that Burberry's "revamped look" is resonating well with customers, the report said.

The brand has come under new management after longtime creative director Christopher Bailey left the company last year.

According to Lyst, Burberry has been rolling out limited-edition drops, which are exclusively shoppable on Instagram and Chinese messaging app WeChat. These have been selling out in a matter of hours, the report said.

9. Valentino

Thanks to Gwyneth Paltrow, Valentino had a buzzy start to the fourth quarter. The actress-turned-businesswoman wore a Valentino dress for her wedding in September.

8. Vetements

Vetements continues to hold its place in the top 10 list. It experienced a spike on social media after Tilda Swinton wore a red Vetements dress to the Sitges Film Festival in Spain in October.

7. Stone Island

Stone Island has made a reappearance in the top 10 list after a six-month hiatus.

Searches for Stone Island products were up 122% in the most recent quarter, according to Lyst, and the brand was mentioned over 327,000 times on social media.

6. Versace

Versace came into the limelight last year after it was bought by Michael Kors, now Capri Holdings, for $2.12 billion.

Capri said it now plans to grow Versace's revenue from about $808 million to $2 billion, expand its footprint from 200 to 300 stores, and ramp up its shoes and accessories assortment.

5. Fendi

In October, Fendi launched its Fendi Mania capsule collection, which featured a mashup of the Fendi/Fila logo, designed by an Instagram artist.

The launch events for this collection, which took place in nine cities, lit up social media, Lyst wrote, creating a big spike in interest around the brand.

4. Moncler

Moncler not only made fourth place on the list, but its signature luxury down jackets were included on Lyst's men's and women's hottest products lists too.

3. Balenciaga

Ugly sneakers are still in vogue, which means Balenciaga continues to shine.

The brand came into the limelight in December, after Michelle Obama wore a $4,000 pair of thigh-high silver Balenciaga boots to an event in New York to promote her new book.

2. Off-White

Off-White continues to be one of the internet's buzziest brands. Founded in 2012, this high-end streetwear label is the brainchild of Virgil Abloh, who is also artistic director of Louis Vuitton Men's.

Its Nike x Off-White The Ten series was the hottest sneaker collaboration of 2018, according to Lyst.

1. Gucci

Gucci reigned supreme at the end of 2018 after taking various top spots in the ranking throughout the previous parts of the year.

Its recent run of success has been attributed to creative director Alessandro Michele, who has led the brand since 2015. Michele seems to have a keen awareness of what young people want, including bright, eclectic colors and patterns that are engaging, eye-catching, and look good on Instagram, Business Insider wrote in July after visiting one of its stores.

Between October and December, more than six million shoppers searched for Gucci accessories. These have become some of the most powerful products in fashion, according to Lyst.