Luxury brands have been master storytellers for decades, if not centuries. Until recently, though, many of these beloved labels, such as Balenciaga and Louis Vuitton, lacked an essential component to building loyal followings among fashion’s youngest luxury consumers: creating a tribe. Enter Supreme and the booming streetwear market. To fill the missing piece in the marketing puzzle, luxury brands increasingly look to streetwear as a rapidly growing and maturing sector of the industry, taking notes from their inclusivity and kindness practices.
Turning the old business blueprint on its head, Supreme specifically leveraged scarcity tactics and designed a drop-distribution model, using it as a vehicle to create a sense of community. With the company reaching a $1 billion valuation with an investment from the Carlyle Group in 2017, as reported in WWD, streetwear’s disruption of the entire industry cannot be overstated. As we see through the confluence of the luxury and streetwear sectors, it’s clear that promoting inclusivity is now the golden ticket to becoming an industry leader. Brands must stand for something that goes beyond the surface level. Aside from addressing important sustainability standards, the emotional life of a brand increasingly serves as the backbone of a successful company.