Streetwear is a style that everybody knows of and has been around for over 35 years. It arguably reached its peak in the late 90s and early 00s. Making some people believe that it is slowly dying out although many others would argue differently.
It is hard to say whether streetwear is at its all-time high without looking at the numbers. We looked at hypebeast’s streetwear report to find out the truth about streetwear and whether or not it is still in fashion in 2022.
Streetwear is a fashion trend that tends to be worn by millennials who aim to look “hipster”. Wearing expensive clothing brands that are limited edition, a style that is often worn by many Northern Americans and Japanese.
Streetwear is not just a style for the average citizen. A lot of people associate this unique style with luxury fashion and it is easy to understand why. One of those reasons is because so many high-street fashion brands collaborate with streetwear brands, designing limited edition products. You would be surprised to see how many brands have collaborated to design a piece like no other. Nonetheless, the golden question before we jump into this article is where did it all begin?
There has been an ongoing debate in the fashion industry as to where the streetwear style originated from. A lot of people believe that streetwear started in the United States however, there are a select few that say it started in Japan. We believe that it began with Shawn Stussy, a surfer that didn’t intend to be a fashion designer until it was the local demand by other surfers.
Founded in the early 1980s, Shawn Stussy began his brand by scribbling his name on surfboards. Due to the popular demand for those surfboards, he decided to print his name on clothing such as t-shirts and shorts. Due to the increasing demand for his clothing and surfboards, Stussy decided to take his Californian brand and make it national.
This style soon became popular and the United States adored the style. It wasn’t long after until hip-hop and punk rock artists decided to release merchandise that was similar to the style of Stussy. However, despite the ongoing demand for streetwear, it still didn’t make it to the top level, until Supreme came along.
Supreme is a streetwear brand that everybody knows in the fashion industry. They are masters at designing graphic tees, hoodies, full tracksuits and streetwear accessories. Even if you are not into your streetwear, you know who they are because Supreme is in a lot of high-street stores. Not to mention that you will see a lot of their clothes on the streets today in the western and far eastern parts of the world.
1994 was the year that Supreme decided to take the streetwear style to the top. A style that was not only loved by the streetwear community but also those major high street fashion brands. James Jebbia, the founder who is still the CEO today, collaborated with many luxury brands such as Gucci, Adam Kimmel, A Bathing Ape and more.
One thing that is very clear with streetwear is that many luxury brands are either collaborating with streetwear brands or adding their own style to it. A brand that is a great example of this is Louis Vuitton. They worked alongside Virgil Abloh, the former founder of off white, who recently passed away in December 2021. They are one of many fashion brands that appreciates this special style and look to carry it on.
The question is, are the numbers that are still going strong and the short answer is yes. However, we all want to see some statistics to back it up. Is the demand still there?
It is a well-known fact that streetwear consumers will often buy their items in the store. Furthermore, it is believed that over 53% of streetwear consumers will go to a brand’s store to buy their clothing. Another 41% of those people will go straight to the brand’s eCommerce website. Around 31% also go into a large retail store if they wish to find multiple brands and around 28% will buy off a resale site.
A lot of these numbers overlap because they were able to click multiple options. As you can see, going into a store is much more popular and one of those reasons could be down to see the quality of the clothing in person. The next question is, what is the growth like of the biggest streetwear brand out there? Are they seeing increases or decreases in revenue?
Supreme has increased massively over the previous decade, even though covid affected it. They are a brand that has continued to grow for many years now and they do not seem to be slowing down anytime soon. In all fairness, when reading fashion news, how often do you see Supreme on a website or a magazine? It is a lot due to the collaborations they have and its latest drops. Again, let’s see the numbers for the growth of Supreme.
According to a report from companies market cap, Supreme made a total of 0.58 billion dollars in 2012. Fast forward nine years, they increased in revenue by a total of 57.62%, taking them to a total of 0.98 billion dollars in revenue. Over nine years, Supreme saw its biggest decrease of 3.63% due to the effects of covid-19 in 2020. However, once the stores reopened, they soon got back to business, seeing their biggest increase in the last 9 years which was a total of 28.42%. That just shows how much streetwear consumers missed the in-store brands as well as showing how much they prefer seeing the product physically compared to through a screen.
As you can see, streetwear has increased massively and does not seem to be slowing down. More and more streetwear brands are forming, adding their creative twists to the style, as well as working with some of the largest fashion brands to date. Expect another big year for Supreme, as well as the other streetwear brands this year, in 2022.