Street style has been around for decades, and over the last few years we have seen the rise of a new clique who sport themselves wearing what is now known as 'luxury streetwear’.
The sheer frenzy around some of these brands is astounding. Ask any true fan, what is it that keeps them loyal to these brands, and they say one of two things: exclusivity and authenticity.
To be exclusive, brands release limited edition products, which are sold out within minutes of launch. Despite queuing outside stores for more than 24 hours, or signing up for the chance to win a rare pair of shoes, or flying out to another city to be there on the day of the launch, very few fans can manage to get their hands on these sought-after items. The demand far exceeds the availability. This is known as the ‘hype-beast’ phenomenon. A term used for a tribe of customers who are always willing to grab onto any 'hyped' or ‘cool’ merchandise from these brands.
Supreme, a name that has become familiar to a lot more people other than skaters, is a brand that has a dedicated fan following, that has grown in large numbers over the past few years. Kanye West’s Yeezy shoes have a niche following of their own. Try getting a pair of these, and one would understand how this has given birth to an entirely new way of shopping. This business thrives on the adrenaline rush that fans get from finally being able to buy these coveted products.
Through this report, we understand how these customers’ demands are met by a niche group of resellers, who have turned this situation into a highly profitable business.
How does it work?
Top Wanted Products and Brands
Where to Shop?
How brands and Stores are Fighting Reselling