The report was created by SEO agency Topdog, led by CEO Christian Rudolf, who has worked in search engine optimization for over 20 years. The data is based on the Ahrefs and Semrush tools for the Swedish market and compares the development between July 2025 and July 2026.
Varying Organic Development
According to collected data, organic visibility on Google has decreased for several major brands within the fashion segment. Homeroom and Zalando note decreases of 38 and 36 percent, respectively. Ellos (-25%), H&M (-16%) and Boozt (-13%) also show declines.
At the same time, there are players that are going against the trend. NA-KD and Cellbes show growth in organic visibility of 92 and 80 percent, respectively, compared to the previous year. Zara (+29%) and Jotex (+19%) are also increasing their presence in search results.
Growth for Zara, Decline for NA-KD and Ellos
When it comes to searches for the specific brands, the figures show a divided market. Demand measured in search volume is increasing for Zara (+19%), Gina Tricot (+10%) and Jotex (+7%).
Brand |
Volume July 2025 |
Volume July 2026 |
YoY |
|---|---|---|---|
zara |
97,800 |
115,899 |
+19 % |
gina tricot |
313,620 |
346,017 |
+10 % |
jotex |
42,299 |
45,183 |
+7 % |
homeroom |
11,074 |
11,058 |
±0 % |
zalando |
198,438 |
195,907 |
−1 % |
asos |
44,377 |
41,267 |
−7 % |
hm |
375,601 |
341,742 |
−9 % |
boozt |
162,810 |
144,224 |
−11 % |
ellos |
141,810 |
115,797 |
−18 % |
cellbes |
60,152 |
49,172 |
−18 % |
nakd |
135,434 |
108,372 |
−20 % |
Source: Topdog
On the other end of the measurement, NA-KD, whose brand searches decrease by 20 percent, can be found. Cellbes and Ellos also note decreases of 18 percent each. For Ellos, this means that the number of monthly searches for the name has fallen from 141,810 to 115,797.
In the report, Christian Rudolf argues that searches for the brand are an important indicator of e-commerce revenues, and that declines should be carefully analyzed.
Brand search is the most honest measure of an e-commerce company's future sales. No traffic converts better than someone googling your name. When that curve falls by 18 percent in a year, it's an early warning, he says in connection with the analysis.
General Increase in AI Overviews
One area where all the companies examined show a positive trend is in Google's AI Overviews (AI-generated summaries). Zalando has the highest presence and now appears in 1,016 search queries. This is followed by Zara with 669 search queries and Ellos with 667.
In percentage terms, Homeroom accounts for the largest relative increase, from 4 to 61 search queries (an increase of 15.3 times). Ellos has increased its AI visibility by 7.8 times compared to the previous year, and Cellbes by 7.6 times.
Topdog assesses that the development in AI search is closely linked to the general attention surrounding a brand. According to Christian Rudolf, news flow and publicity, such as during a listing, contribute to the AI systems picking up the brand more often.
AI systems are extremely sensitive to attention surrounding a brand, and a listing automatically generates mentions, he explains, believing that Ellos' upcoming listing may have given the company a positioning advantage in this regard.
Ellos Towards the Stock Exchange
The analysis of the search data coincides with Ellos Group's final stage before the listing on Nasdaq Stockholm on July 8. The subscription price has been set at SEK 60 per share, giving a company valuation of approximately SEK 1.485 billion. The listing and the associated new issue are expected to add SEK 300 million to the company.
READ ALSO: Ellos' new valuation – when the giant enters the stock exchange