Supreme brand Louis Vuitton unveiled its collection last month, and especially young rich people in London, Los Angeles, and Tokyo camped overnight outside stores hoping snap up the designer T-shirts and Hoodies, with Louis Vuitton stamp of approval.
Many wanted to make a quick buck by reselling these valuable highly coveted name on the eBay at 1.5 to five times the retail price, for those rich and elite people who do not believe in standing queues.
The item listed on eBay is Supreme’s box logo T-shirt, which has an asking price of £3000.00 ($ 3, 916.93) more than five times the retail price.
The hysteria of Supreme among the rich and trendy youth, who do not care what the asking price is. This has evoked the realities of selling clothes in 2017, as super luxury brands are losing their grip on pricing and distribution. Their marketing of their luxury brands has evoked the raw nerve among the dandy youths. This, in turn, has a detrimental effect as Supreme’s prices go up when resold, many other brand’s prices are falling.
For several decades big brands cornered the market and controlled who can sell their goods and for how much, this has in fact breeding fake designer goods and counterfeit which is a bigger industry problem in itself.
The third party vendors have proliferated online, where prices are not controlled by brands but supply and demand. Supreme has opted for exclusivity and a distribution model based on scarcity.
Luis Vuitton is not the only one in this game as Nike launched a limited edition release of 46 boxed pairs of basketball shoes endorsed by LeBron James and the Clevland Cavalliers players. They were sold in Stock X for $11,000 per pair. The non-exclusive subsequent release of the same shoes went for less than $200.