Some streetwear brands no longer reign “supreme.”
In fact, designer Supreme — the preferred brand of hype beasts — saw resale numbers decline by 25% year over year, a recent report from The Real Real revealed, and the second-hand sales of its competitor Off-White sank 34%. Similarly, sales of Nike Jordans slipped 35% year over year.
Noelle Sciacca, The Real Real’s associate director of fashion and strategic partnerships, told Fashionista that the streetwear slump could be caused by the death of renowned designer Virgil Abloh and the public downfall of rapper Kanye “Ye” West who operates his own brand Yeezy.
With the two figureheads of streetwear gone, “the community welcomed a shift into something new,” she said.
The unlikely underdog? Corporate couture.
“Around the same time, we saw the widespread rise of quiet luxury,” Sciacca explained. “Customers stocked their closets with neutral-colored blazers, trousers and minimalist suiting separates. Over time, however, fatigue for the simple uniform began to set in, and there was an increased desire again for self expression.”
“Corp-core,” the 9-to-5 chic marked by tailored suiting, button-ups and more, has soared in popularity among celebrities, influencers and the average Jane. In recent months, A-listers like Sydney Sweeney and Zendaya have jumped on the polished — dare we say “demure” — trend, which industry pundits describe as “subversive,” given some of the chaotic, colorful “dopamine” dressing pushed forth by Gen Z.
“Each generation has an affinity to reinterpret popular styles from the past,” she added. “We witnessed the Y2K fashion resurrection, and now there’s an increased interest in 1980s and 1990s workwear.”
But the buttoned-up look isn’t just reserved for the confines of the cubicle. Fashionistas are hitting the streets in the strictly business style, which Sciacca calls “corporate appropriation.”
According to the data, the “office siren” aesthetic also boosted the popularity and prices of boardroom garments — ties cost 51% more on average this year and suiting sales are up 25%.
The Real Real’s resale report also found that Gen Z was the generation most likely to wear ballet flats to the club, with Chanel as the most sought-after brand.
Louis Vuitton was the most-searched brand overall, with Pharrell William’s men’s collection bolstering interest, while Chanel and Prada, the latter of which is also beloved by Gen Z, trailed behind.
Consumers were reportedly splurging more on arm candy, too. Shoppers spent 20% more on handbags than they did five years prior, and this year alone, customer spending in the $1,000 to $3,000 grew 13%, which the company said was “the largest uptick of any price category.”
The company looked to pop culture pillars like TikTok and television to determine the next generation’s shopping habits, which Levesque said denotes a “seismic shift” in the fashion industry.
With an interest in investment pieces, The Real Real listed The Row’s Margaux, Hermes Kelly and Bottega Veneta’s Andiamo bags as the best bang for customers’ buck that can yield returns down the line. And, as vintage demand reaches fever pitch, the luxury reseller also warned customers that convincing counterfeit bags, or “superfakes,” are on the rise.
“It’s no longer about what’s new being what’s next—it’s about what’s going to last,” Rati Sahi Levesque, The Real Real’s president and COO, said in the report’s opening statement. “More than ever, shoppers are curating their wardrobes with a focus on distinctiveness and enduring value.”