Streetwear as a whole is the most prolific part of the fashion business. With billions of dollars being spent in both production and advertisement, brands like OFF-White, Gucci and Supreme have literally reshaped the market of a topic which grows (still) on a daily basis. Let’s try and picture what happened, in general, in the last couple of years within the world of streetwear.
Supreme And “The Limited Edition” Paradigm
Supreme is the brand which started the entire “limited edition” and “drops” paradigm within streetwear. The logic behind every release is relatively simple: collections are divided in “drops”, which are released once every year and, after that, won’t be available for purchase anymore. With this, Supreme increased their brand awareness by creating demand so high, that it escalated in a parallel market worth over $3 billion in 2018. Incredible, for a brand which was born as mere skatewear and fitness clothing such as mens gym t-shirts.
Gucci has gone from being a high tailoring, ultra high class, polite and “classic” brand to flashy, extravagant designs led by creative director’s mastermind Alessandro Michele. Gucci, since 2017, was able to increase his incomes by over 35% with just their streetwear-related products. Gucci is, currently, one of the biggest brands in the streetwear scene and their “Spiritismo” collection still holds the record for being the fastest-selling collection in history.
Virgil Abloh: The Genius With “Nothing To Say”
Abloh started his career being Kanye West’s creative director/supporter. From there, his first steps in the fashion scene were with his well renowned “custom” brand “PYREX: Vision” which was simply made of customs he was building from Ralph Lauren’s flannels. After this small “experiment”, Abloh founded (together with Marcelo Burlon), OFF-White, one of the biggest streetwear brands of this era. Now Louis Vuitton‘s creative director, Virgil has collaborated with brands like Nike and IKEA in the past couple of years, confirming himself as the biggest fashion designer of the last 4 years.
Louis Vuitton: The Hype King
Streetwear is usually connected to the term “hypebeast”, and for a good reason. When brands like Louis Vuitton, for example, release any new item, every hypebeast is already in line to buy it, whether if it’s a hoodie or a keychain. Louis Vuitton understood this thoroughly and released over 500 items (ranging from clothing to accessories) in the past couple of years, increasing (you don’t say) their income by over 300% compared to when they were just focusing on high tailoring.
Streetwear is still one of the most prolific business segments within fashion and it’s definitely one of (if not the actual) the biggest ones in terms of growth for 2020. If you’re an independent designer who’s looking to kickstart his career within the fashion scene.