When Fashion Meets Business

Nour

The world of fashion has not only provided us with tons of designs that have become trends, it has also offered a sensational opportunity for several people to make use of items in different ways. Fashion items have become an asset and as tradable just like real estate, with some products reaching enormous values. This issue could be attributed to why a lot of companies have rushed to associate themselves with artists that are currently in the spotlight. They would offer collaborations which would rake in profits; nonetheless, the real money is being made elsewhere.

One of the most prominent examples of such is the Kanye West x Nike shoes that were released a decent time back and were sold by the company for around three hundred dollars, where shoe collectors and fans, and the limited availability of the line, caused its price to inflate by great proportions. A pair of Nike Air Yeezy 1’s, for instance, would not cost upwards of ten thousand dollars on average. A Derek Jeter Air Jordan 3’s, per say, costs around twenty thousand dollars, as it was linked to one of baseball’s greatest players ever. Such collaborations have morphed the fashion industry not only into one that provides new and innovative designs that set the trend for an upcoming period, but also into a business opportunity for so many people. This has caused a lot of individuals to invest in YouTube and other streaming channels to show off their collections, which has led them to receive a bundle of followers and, consequently, receive a lot of money. For example, a sixteen year-old in Dubai owns a shoe collection, one that is worth more than two million dollars. These are very hard numbers to grasp, but they are nonetheless true and available publicly to follow.

Such incidences have been sparked through smart marketing decisions taken by several companies to limit the quantities in which they release certain lines, instead of a mass production method which was relied upon before. The scarcity of these products has led people to over-value a lot of items to absurd levels. Supreme, one of the pioneers of such a strategy and a clothing company owned by the head designer of Louis Vuitton, follows a very strict policy that has been a concrete value since the company’s initiation, and that is that the design that gets released would never be replicated by Supreme themselves. Though their quality may not be of insane caliber, this brilliant promotional strategy has caused a lot of people to pursue the clothing line merely because it would give them a sense of uniqueness caused by the fact that the item they have on is owned by very few others.

The fashion industry has, thus, moved into a business opportunity for any young adult with a bit of side cash and time to invest in obtaining and reselling products that are of limited release, causing a revolution in the way a lot of companies handle their marketing strategies.

- Nour El Zein
  Business Student