Years back someone gave me a Supreme cellphone case as a gift and I knew the brand as a skating company from back in the day but I guess I’d been living in a bubble because I had no clue whatsoever how popular they were as a streetwear brand at the time.
That was an eye-opening experience because unbeknownst to me, I’d been walking past the Supreme store in SoHo on my way to work most mornings and had strolled past ridiculous lines on many occasions without having any idea what I was walking past or how obsessed those people were with the streetwear brand.
A few months back, the world’s largest collection of Supreme skateboard decks went up for auction and it was valued at somewhere between $800,000 and $1,200,000…FOR SKATEBOARD DECKS. It’s natural to wonder what makes their limited-release accessories and apparel to valuable.
Supply and Demand is probably the best explanation because the stuff sells out within seconds sometimes but there’s more to it than that. Business Insider video put together this clip explaining why guys will spend $1,000+ on a faux fur jacket all because it carries the Supreme logo. Spoiler alert: it’s all about the limited-release and the branding:
I guess it’s worth noting that the people spending $$$$$ on Supreme gear are doing it for one of two reasons. 1) They are deeply embedded in the streetwear fashion scene and care about these limited-release drops or 2) They are selling them on eBay. The amount of Supreme accessories and clothing for sale on eBay is borderline insane.
It’s transitioned from a tiny skateboard shop to a $1 BILLION brand with a subculture of its own that drives people to camp out overnight for the latest releases. Business schools teach about their approach to business as a case study and rightfully so, though I’m not sure you’d be able to replicate their success with any other brand.