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The Loupe Index · November 2, 2026

What independent fashion is actually doing

Nobody measures the independent tier. Enterprise forecasting starts above it, wholesale data stays private, and a brand's own dashboard shows only its own store. So we built the instrument out of the thing we already had: a full snapshot of 224 labels' catalogues, taken every day since 2026-06-17.

224 labels 9,902 pieces tracked 131 daily snapshots 2026-06-17 → 2026-10-29

Four numbers nobody else has

Every rate on this page carries its sample size and a 95% confidence interval. Where the sample is too thin, the row is not printed rather than printed small.

Full price
92.5%
of 17,263 tracked pieces held their price across 52 days, 2026-09-08–2026-10-29. 112 of 196 labels did not mark down a single piece.
Sold out now
12.4%
of tracked pieces have no size left in any variant (9,902 pieces, 95% CI 11.8–13.1%).
81-day turnover
59.5%
of the pieces we tracked on 2026-08-09 are no longer in their brand's recent listings. Matched on title instead of id: 57.9%.
Newness
62.8%
of today's shelf was published in the last 81 days. The median label refreshed 87% of its shelf.

What is selling out

A piece counts as sold out when every size of it is gone and the brand has not restocked. Out-of-stock pieces stay in our feed, so this is measured directly rather than inferred from something vanishing.

New in the last 81 days
10.5%
sold out, off 6,221 arrivals.
On the shelf since 2026-08-09
15.7%
sold out, off 3,681 pieces. These two are not comparable on a 81-day window: an arrival has had at most 81 days to sell, standing stock has had months. Read each on its own.
CategoryTrackedSold out95% CI
tops3,46513.9%12.7–15.0
accessories2,33913.7%12.3–15.1
bottoms1,7668.6%7.4–10.0
dresses1,34510.9%9.3–12.6
outerwear65812.3%10.0–15.0
shoes32915.5%12.0–19.8
Price bandTrackedSold out95% CI
under $6066621.0%18.1–24.3
$60–1191,98914.4%12.9–16.0
$120–1992,59610.5%9.4–11.8
$200–3492,08012.8%11.5–14.3
$350–5991,4317.3%6.0–8.7
$600+1,14014.0%12.1–16.2

Sell-out is a barbell, not a slope: the cheapest and the most expensive bands clear hardest, and the middle of the market sits.

Almost nobody discounts

Measured across 2026-09-08–2026-10-29, the longest stretch with no change in how we read prices.

Marked down
7.5%
of 17,263 tracked pieces ended the window below where they started. 506 ended above it.
When they do cut
4%
median markdown. Middle half of cuts: 3%–16%.
Full-price houses
112 / 196
labels with 20+ tracked pieces that did not cut a single price in the window.

Every one of these held full price on its whole tracked shelf:

The Frankie ShopVESTIGEPaloma WoolEmily Dawn LongBec + BridgeSt. AgniCafe ForgotChan Luu6397Stine GoyaLauren ManoogianSIEDRÉSFlore FloreTyler McGillivaryEliouShop PecheAknvasBelle AnnaNafsika SkourtiMirror PalaisJuliettaPeachy DenWolf CircusMartine Rose

Some of the biggest "discounts" in this data were ours, and they are excluded. A real sale marks different pieces down by different amounts. A currency correction multiplies every piece by exactly the same number. We look for the second: a label whose whole line steps by one identical ratio on one day is treated as our pipeline changing, not the brand changing its mind, and prices are never compared across that day for that label. 109 such brand-days exist across the whole window and 82 of them moved by exactly a currency-pair ratio from our own conversion table — Stine Goya's line moved ×0.134, which is the Danish krone peg, not an 87% sale. 35 fall inside the window above:

  • Gimaguas, 2026-09-25 — 52% of the line, every piece ×0.7407 (exactly a currency-pair ratio)
  • Martine Rose, 2026-09-28 — 77% of the line, every piece ×0.6
  • Anna October, 2026-10-01 — 100% of the line, every piece ×0.977 (exactly a currency-pair ratio)
  • Maguire, 2026-10-01 — 85% of the line, every piece ×0.9734 (exactly a currency-pair ratio)
  • Róhe, 2026-10-01 — 100% of the line, every piece ×0.977 (exactly a currency-pair ratio)
  • Deiji Studios, 2026-10-01 — 100% of the line, every piece ×0.9676 (exactly a currency-pair ratio)
  • One Mile The Label, 2026-10-01 — 92% of the line, every piece ×0.9677 (exactly a currency-pair ratio)
  • Flattered, 2026-10-01 — 100% of the line, every piece ×0.9569 (exactly a currency-pair ratio)
  • SIEDRÉS, 2026-10-01 — 100% of the line, every piece ×0.977 (exactly a currency-pair ratio)
  • Sir the Label, 2026-10-01 — 100% of the line, every piece ×0.9672 (exactly a currency-pair ratio)
  • Entremains, 2026-10-01 — 91% of the line, every piece ×0.977 (exactly a currency-pair ratio)
  • Moja Rowa, 2026-10-01 — 82% of the line, every piece ×0.977 (exactly a currency-pair ratio)
  • St. Agni, 2026-10-01 — 100% of the line, every piece ×0.9672 (exactly a currency-pair ratio)
  • Bec + Bridge, 2026-10-01 — 100% of the line, every piece ×0.9679 (exactly a currency-pair ratio)
  • Kernemilk, 2026-10-01 — 92% of the line, every piece ×0.9768 (exactly a currency-pair ratio)
  • Le Febour, 2026-10-01 — 92% of the line, every piece ×0.9721 (exactly a currency-pair ratio)
  • Stine Goya, 2026-10-01 — 100% of the line, every piece ×0.9763 (exactly a currency-pair ratio)
  • Musier Paris, 2026-10-06 — 74% of the line, every piece ×1.4239 (exactly a currency-pair ratio)
  • One Mile The Label, 2026-10-07 — 92% of the line, every piece ×1.0333
  • ALOHAS, 2026-10-07 — 48% of the line, every piece ×0.7022 (exactly a currency-pair ratio)
  • One Mile The Label, 2026-10-08 — 89% of the line, every piece ×0.9677
  • Oséree, 2026-10-08 — 67% of the line, every piece ×0.8019 (exactly a currency-pair ratio)
  • Niihai, 2026-10-08 — 100% of the line, every piece ×1.0392
  • Susamusa, 2026-10-09 — 93% of the line, every piece ×0.7489 (exactly a currency-pair ratio)
  • One Mile The Label, 2026-10-10 — 88% of the line, every piece ×1.0333
  • Susamusa, 2026-10-13 — 93% of the line, every piece ×1.3352 (exactly a currency-pair ratio)
  • One Mile The Label, 2026-10-13 — 88% of the line, every piece ×0.9677
  • Oséree, 2026-10-14 — 93% of the line, every piece ×1.2422 (exactly a currency-pair ratio)
  • One Mile The Label, 2026-10-14 — 88% of the line, every piece ×1.0333
  • One Mile The Label, 2026-10-15 — 88% of the line, every piece ×0.9677
  • Many Many Clothes, 2026-10-16 — 100% of the line, every piece ×1.1494 (exactly a currency-pair ratio)
  • One Mile The Label, 2026-10-20 — 88% of the line, every piece ×1.0333
  • De La Vali, 2026-10-20 — 98% of the line, every piece ×0.8794 (exactly a currency-pair ratio)
  • PDPAOLA, 2026-10-21 — 62% of the line, every piece ×0.8382
  • Marge Sherwood, 2026-10-29 — 63% of the line, every piece ×1.1124

This cuts against us and we would rather it did. A genuine sitewide "everything 20% off" is indistinguishable from a currency fix in catalogue data, so it would be voided too. The markdown figures on this page are therefore a floor: the tier discounts at least this little, possibly slightly more.

Where the tier prices

The question every small brand has and cannot answer: am I priced right? This is the whole tracked tier on 2026-10-29, by category.

CategoryPieces10th25th Median75th90th
tops3,465$59$88$135$230$450
accessories2,339$56$104$203$370$720
bottoms1,766$92$125$175$295$495
dresses1,345$125$170$269$498$830
outerwear658$143$195$350$745$1,998
shoes329$165$195$312$630$945

Sitting between the 25th and 75th is not a virtue in itself — but a brand two whole quartiles off the tier in one category and on it in another is usually doing that by accident.

What the tier is making now

Share of the tracked shelf on 2026-08-09 against 2026-10-29, across the 217 labels present on both dates.

Colour08-0910-29 ShiftPieces
neutral44.1%44.8%+0.84,452
black13.6%15.2%+1.61,513
white9.1%7.7%-1.4763
blue8.7%7.4%-1.3735
brown5.2%6.7%+1.5666
multicolor7.7%6.4%-1.3631
green4.3%4.4%+0.0434
pink4.3%4.3%+0.0429
red3.0%3.1%+0.1305
Price band08-0910-29 ShiftPieces
under $606.0%7.0%+1.0618
$60–11923.4%20.3%-3.11,806
$120–19926.7%26.0%-0.62,311
$200–34922.1%21.1%-1.01,871
$350–59913.2%14.3%+1.11,271
$600+8.7%11.2%+2.6998

The shelf's median price rose from $178 to $188 — and not because brands raised prices. New pieces are arriving below the ones that have stayed (median $200 arriving against $167 standing). The shelf gets more expensive because the cheap things leave it fastest: pieces under $60 turned over at 59.9% against 58.5% at $350–599.

Arriving vs standing

Share of pieces already on the shelf on 2026-08-09 against share of everything published since.

Price bandStandingArrivingShift
under $606.9%6.6%-0.2
$60–11924.9%17.2%-7.6
$120–19927.4%25.5%-1.8
$200–34920.3%21.4%+1.2
$350–59914.0%14.7%+0.6
$600+6.6%14.4%+7.9
CategoryStandingArrivingShift
tops36.9%33.9%-3.0
accessories28.4%20.8%-7.6
bottoms16.4%18.7%+2.3
dresses14.2%13.2%-1.0
outerwear2.9%8.8%+5.9
shoes1.2%4.6%+3.4

How fast the shelf empties

Of the pieces we tracked on 2026-08-09, the share no longer in their brand's recent listings on 2026-10-29. That is delisting and being pushed off by newer drops together — we can see both happen and cannot always tell which, so we say so rather than call it sell-through.

Price bandTrackedGone95% CI
under $6052159.9%55.6–64.0
$60–1192,04953.5%51.3–55.6
$120–1992,33458.7%56.7–60.7
$200–3491,93362.1%59.9–64.3
$350–5991,15458.5%55.6–61.3
$600+75972.3%69.0–75.4
CategoryTrackedGone95% CI
tops3,07858.4%56.7–60.1
accessories2,01949.7%47.5–51.9
bottoms1,66363.8%61.5–66.1
dresses1,27559.8%57.0–62.4
outerwear36673.8%69.0–78.0
shoes34988.8%85.1–91.7

Sixteen looks, and which ones are moving

These groups come from the images, not the category labels — every piece is embedded with a fashion vision model and clustered by what it looks like, so a boxy cropped knit lands next to another boxy cropped knit whatever its brand called it. The names are the words that are unusually common in each group's own titles; nobody wrote them. Index 100 means the group is refreshing at exactly the tier's rate.

coat, jacket, cardigan
843 pieces · 8.5% of the shelf · median $310
New 85% idx 136 Sold out 12.7%
pump, sneakers, boots
335 pieces · 3.4% of the shelf · median $330
New 83% idx 133 Sold out 14.9%
pant, trousers, pants
700 pieces · 7.1% of the shelf · median $220
New 78% idx 124 Sold out 6.1%
jeans, jean, rise
362 pieces · 3.7% of the shelf · median $228
New 71% idx 113 Sold out 9.1%
tee, sleeve, shirt
1,253 pieces · 12.7% of the shelf · median $134
New 68% idx 108 Sold out 17.2%
gown, dress, skirt
1,072 pieces · 10.8% of the shelf · median $319
New 64% idx 102 Sold out 8.9%
tank, top, sleeve
1,025 pieces · 10.4% of the shelf · median $128
New 62% idx 99 Sold out 10.4%
skirt, top, dress
846 pieces · 8.5% of the shelf · median $170
New 62% idx 99 Sold out 11.0%
bag, tote, grained
535 pieces · 5.4% of the shelf · median $288
New 62% idx 98 Sold out 19.8%
letter, necklace, bracelet
639 pieces · 6.5% of the shelf · median $195
New 54% idx 85 Sold out 15.5%
hoops, earrings, gold
340 pieces · 3.4% of the shelf · median $205
New 52% idx 83 Sold out 8.5%
solid, ring, cuff
378 pieces · 3.8% of the shelf · median $246
New 51% idx 81 Sold out 3.7%
bottom, bikini, brief
365 pieces · 3.7% of the shelf · median $80
New 49% idx 78 Sold out 9.3%
cotton, dress, top
806 pieces · 8.1% of the shelf · median $165
New 45% idx 72 Sold out 14.8%
tobacco, acetate, lens
349 pieces · 3.5% of the shelf · median $228
New 30% idx 48 Sold out 16.0%

The tier is two markets

Of 175 labels with 20+ tracked pieces, 6 (3%) published nothing at all in 81 days, while the fastest replaced their visible shelf several times over. Averages across this tier describe almost nobody.

Refreshing fastest

New pieces published since 2026-08-09, against the size of the shelf we track.

LabelShelfNewRefresh
The Frankie Shop608231372%
Fashion Brand Company60565942%
Emily Dawn Long58449774%
Paloma Wool46347754%
VESTIGE60444740%
Damson Madder58353609%
Gimaguas47245521%
Chan Luu60309515%
Bec + Bridge60309515%
Guizio46189411%
INSIS60244407%
Ciao Lucia60215358%

Selling through fastest

Share of the tracked shelf with every size gone, 20+ pieces. Only labels that have published something in the window, so this is live stock clearing rather than a shelf nobody has refreshed.

LabelShelfSold out
Emily Dawn Long5893%
Mirchi by Kim6080%
Mimi Wade4068%
Addy Knits5867%
Gumi5262%
Dana Foley6058%
Maguire6057%
Entremains5756%
PDPAOLA6055%
Lucille NYC3954%
Free, for any label we track

Your own numbers against the tier

We build a private card for each of the 175 labels with enough tracked pieces to measure: your sell-out rate, your turnover, your refresh rate and where your prices sit in your own categories against everyone else's — each one next to the tier figure over the same window. It is free, it is yours, and nothing on it is published here — the card is stored encrypted and the link we send you is the only key to it.

Email tryloupeapp@gmail.com with your label's name and we will send the link.

How this is measured, and what it cannot tell you

What we see. Every label's public product feed, read once a day and committed. We keep up to 750 pieces per label, drawn from its 250 most recently published listings. For a small store that is the entire store; for a large one it is the front of the catalogue. Every number on this page is of what we track and we mean it literally.

Why 224 and not 255. The Loupe app carries 255 labels, but 31 of those reach it only through a partner boutique's shelf. What a boutique chooses to buy, and what it charges, is that boutique's decision — not the label's. Mixing the two would corrupt every number here, so the Index reads brand-direct storefronts only: labels publishing their own prices, their own assortment, their own drops.

The window. 131 daily snapshots, 2026-06-17 to 2026-10-29. Comparisons over time start at 2026-08-09, when our roster stopped growing — before that, new pieces are us adding labels, not brands publishing. The daily job did not run between 2026-07-24 and 2026-07-29, so 4 days are missing from the middle of the window.

Turnover is measured once, between two dates. Day-to-day disappearance is 45% noise in this data: of 10,059 overnight vanishings, 4,552 came back. Anything computed as a daily rate would be mostly measurement.

Our own decisions are removed. 11 labels left our roster in the window (Battlo, Campbell and Kramer, Gitika, HOUGA, Hand Over, Linen & More, MAS1, Olive & Pique, Po-em, Wangda, gentle thrills), some by our own choice. Every longitudinal number here uses only the 217 labels present on both dates.

Prices are never compared across a change in how we read them. On 2026-07-15 we pinned our scrape to the US market and 49 geo-priced labels flipped to USD; the next day 36.5% of the catalogue moved price. That whole boundary is void here. Separately, any single label whose line moves by one identical multiplier on one day is voided for that label — 109 such brand-days were found, 82 of them landing on an exact currency-pair ratio.

Stock data starts 2026-07-16. Before that we did not record whether a piece was in stock, so nothing earlier is asked. Partner-boutique listings are excluded from sell-out entirely, because we only ingest those in stock.

What we cannot tell you. Units, revenue, margin, returns, or whether a sold-out piece sold out at full price. We see a catalogue, not a till. We also cannot see a brand's stock depth — "sold out" here means no size is purchasable, which for a made-to-order label may never happen however well it sells.

Would our own users' swipes predict any of this? No — and we checked. Across 133 labels, in-app approval rate against sell-out rate gives r = +0.09, which at this sample is indistinguishable from nothing. The Index does not use app behaviour anywhere.

The record. Every figure above is in data.json, regenerated on the same schedule and kept in version control, so any week's numbers can be diffed against the last.