For some time now, the Streetwear trend has been on the rise, becoming increasingly mainstream. In fact, streetwear has so much demand that some niche brands and products are practically falling into the luxury bracket, considering their exorbitant prices.
Streetwear can now be seen everywhere - from cult streetwear designers heading luxury fashion brands, to fashion houses creating collaborative collections with streetwear brands, to fast fashion brands having athleisure apparel as a part of their core product line.
When we think of streetwear, the biggest names that pop-up are Supreme, Virgil Abloh and Kim Jones. They represent just the tip of the market, as there are many other brands that 'sneakerheads' are constantly yearning to own. Started out as a cult phenomenon, street style is now the demand of the masses, which has forced even companies like LVMH and Ralph Lauren to develop ties the biggest names in the market.
These streetwear brands have their own unique business models which have managed to create a ‘hype’ amongst customers. Streetwear subculture is community-driven, setting is apart from mainstream fashion. These unique outfits or looks are what bring hardcore fans together, engage them and drive conversions. It was all about limited edition, scare products and word of mouth publicity. But since it has gained global acceptance, this has been changing.
Through this report we see how the recent bubble of streetwear market grew into a worldwide fashion phenomenon, the key attributes of the market and where it is headed in the future
- Key People
- Luxury Collaborations
- Streetwear Merging with Luxury
- Fall of the Streetwear Empire
- Key Takeaways
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