Working for a fashion marketplace that is hugely popular with young people, I am no stranger to streetwear. Most of it, I actually lived in, in the 90s. I only wish that I kept all my Kappa tracksuits and velvet chokers which would have become a small goldmine in my wardrobe.
I wrote this piece for Forbes which talks about the trend and how brands are capitalising on streetwear in order to tap into that elusive Gen-Z audience. Is it just a fashion trend, or is it a rising business model in itself? Streetwear has been a reliable draw for high-end brands trying to capture a younger market, with several established fashion brands finding success collaborating with niche streetwear labels. The symbolic peak of success being the valuation of Supreme, a New York skateboarding brand, at $1 BILLION. For those who don’t know – this is a brand so popular that it can sell actual bricks out of its brick-and-mortar stores.
In the article, I cover the use of collaborations, community and hires that have accompanied the youth-culture trend that has been revolutionizing the face of retail over the last few years.
I particularly loved the example of Ralph Lauren who teamed up with London skate brand Palace which, outside of its loyal following, seemed practically unknown in comparison. Nothing says ‘timeless all-American heritage brand’ than Polo Ralph Lauren. However, the collaboration was launched to the delight of young “hypebeasts” and fashion insiders everywhere, strengthening Ralph Lauren’s positioning within the younger market and landing Palace further fashion credibility in one move. I mentioned that it’s not a one-time project for Ralph Lauren either. Ralph Lauren plans to increase marketing spend by $100 million over the next five years, with the creative class firmly in mind.
Funnily enough, after I wrote this post, Ralph Lauren later partnered with Depop in September. Given that streetwear and Y2K is one of the biggest categories on Depop, this was proof of their continuing investment in capturing the younger generation via streetwear. We teamed up to sell over 150 unique, vintage and rare pieces on the app and in-store at Ralph Lauren’s New Bond Street flagship in London. I’m super pleased with the outcome, here are some snaps from the campaign and from the launch party!
On a side note, Maisie Williams (Arya from Game of Thrones) turned up and I lost all ability to speak. Both the best and the worst part of the night.
