Nikita S ✈️ SF Nov 10-14 @singareddynm investor @rre ventures (seed, A, B) 👩🏾‍💻 keeping tech weird, serial experimenter 🤖 ex @oscarhealth @thegovlab stats @columbia May. 22, 2019 2 min read

"Streetwear is analogous to an artist’s street art or a hip-hop artist’s lyrics: picking a spot and dropping a signature.”

I read the HYPEBEAST & Strategy& Streetwear Impact Report so you don’t have to. A long thread ⬇ 👟 

Major takeaways:

❌ 2/3 of consumers believe streetwear products don’t go out of style
🛒 Key tool powering streetwear’s DTC relationship is the “drop” model
🎶 80% of consumers report hip-hop/rap as a key influence
💰 70% of consumers reported an income of <$40K

Spend and retail trends:

👟 Consumers spend up to 5x on streetwear than non-streetwear
⬆ Asian consumers have the highest streetwear per month
👌 $100-300 per product is the sweet spot for pricing
📣 2/3 of consumers reported high importance on brand activism

The distinction between streetwear + the fashion industry is who drives taste-making. Streetwear subverts the insider formula with a more democratic model.

Pioneers/inspos: Jebbia (Supreme), Shawn Stussy (Stussy), Warhol, Basquiat, Dapper Dan (DJ), Fujiwara (DJ/designer), Abloh

Top brands (mix of original, sportswear, adopted, luxury): Supreme, Nike, Off-White, Adidas, BAPE

Top products by sale numbers: 👕 hoodies and t-shirts (67%), 👟 footwear (66%), 👜accessories (44%)

Key moments in the industry:
2011 venture investment in Japan’s @BAPEOFFICIAL
2017 Supreme x LV collab with Abloh as Vuitton’s creative director
2017 Supreme’s sale to The Carlyle Group for $500M
2018 Concepts deal with Zappos
2018 Stadium Goods investment from LVMH

Authenticity wins

📈Insta acct Diet Prada (critiques of industry knockoffs) has 1M+ follows
📱Brands have proven DNVB viability with brands like Anti Social Social Club, Brain Dead exclusively online
🎨Influences other than musicians include contemporary art (42%), sports (40%)

Double clicking on streetwear’s “drop” model...
🛒 54% of consumers are willing to wait in line for a product drop
🛍 53% prefer physical brand stores, 42% prefer brand’s e-commerce site, 28% prefer resale
💻 StockX, Insta, FB groups as most frequented resale platforms

Consumers are young + discerning, in almost cult-like relationship with brands that D2Cs are desperate to crack. The undeniable cool + practicality that drives streetwear obvi sells for extremely high prices (but only 'authentic', savvy brands and resellers succeed).

Simply put, streetwear is not a trend within fashion but rather the fashion component of a larger popular culture shift that spans fashion, art and music. It's contingent, almost exclusively, on know-how. Here's looking at you, Millennials + Gen Z.

You can follow @singareddynm.


Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Sign up.

Threader is an independent project created by only two developers. The site gets 500,000+ visits a month and our iOS Twitter client was featured as an App of the Day by Apple. Running this space is expensive and time consuming. If you find Threader useful, please consider supporting us to make it a sustainable project.