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Luxury & Streetwear tie-ups sign of the times

"Major link-up between luxury and streetwear fashion companies have signaled a new era of growth in the world of apparels. The recent deal of claiming 50 per cent stake in Supreme by private equity firm The Carlyle Group is a testimony of this. Additionally, Supreme collaborated with Louis Vuitton on a limited-edition collection of accessories in January this year. Similarly, Jil Sander announced in April that Luke and Lucie Meier would be the new creative directors behind the brand, which further substantiates their foray into the streetwear."

 

 

Luxury streetwear tie ups sign of the times

 

Major link-up between luxury and streetwear fashion companies have signaled a new era of growth in the world of apparels. The recent deal of claiming 50 per cent stake in Supreme by private equity firm The Carlyle Group is a testimony of this. Additionally, Supreme collaborated with Louis Vuitton on a limited-edition collection of accessories in January this year. Similarly, Jil Sander announced in April that Luke and Lucie Meier would be the new creative directors behind the brand, which further substantiates their foray into the streetwear. Last year, the global market for personal luxury goods failed to grow for the first time since the financial crisis, plateauing at $293 billion. This is the reason so many luxury brands are stepping into streetwear to expand markets.

The re-release phenomenon

Luxury and streetwear tie ups sign of the times

 

Last month, Ralph Lauren re-released its cult-loved Polo 1992 Stadium collection, which included hoodies and T-shirts with the famous ‘P-Wing’ logo. The recurring limited-product release system, which operates outside of the traditional sales seasons, was first brought and honed stateside by Supreme. These days everyone uses this system be it Nike or Kylie Jenner. Claire Waight Keller, the new creative director of Givenchy, also informed a media daily that she plans to release monthly capsule collection drops while at the helm.

Talking about this move, Ashwin Deshmukh, Co-founder, Hungry, Inc, explains there’s no really great creative coming out of any of the big houses, so they’re using the drop model to create artificial scarcity and regain excitement. Experts point out brands are elevating simple items like T-shirts to coveted status and using more of the playful, referential graphics that are typical of streetwear.

Newer luxury designers, like Demna Gvasalia of the buzzy Vetements, are coming up with an altogether new approach to runway fashion. They want to bring out apparels for the masses whatever is showcased on a luxury brand’s runway. Fashion experts feel by operating like this, brands can create more dynamic relationships with their customers. More specifically, streetwear now has a seat at the table.

On the contrary, some feel the problem with luxury brands tapping into streetwear is the they lack of authenticity. Authenticity and lifestyle are the core of streetwear. That’s why streetwear companies exist, and it can’t be borrowed. Deshmukh also agreed that luxury brands lack the organic, enthusiastic culture that many streetwear brands are built on.

 
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