Case studies: what’s new
Handbags x Hype by Christie’s
Focusing on the ways that streetwear has influenced luxury fashion and redefined what is collectable, auction house Christie’s recently hosted Handbags x Hype. This auction framed streetwear items such as Air Jordan XIIIs as an investment opportunity, much like fine art or wines, with luxury collectables such as Hermès Birkin bags going under the hammer alongside streetwear. For a traditional auctioneer to position high-end streetwear in this way shows that who and what we associate with investment is changing, demonstrating how streetwear is becoming a method of storing wealth.
Rares
This US start-up is seeking to democratise access to streetwear investments by allowing people to buy a share of ownership in high-value sneakers, with no minimum investment. In this way, Rares wants to ensure that the fashion fans and streetwear communities who have built sneaker culture can be part of its trade-orientated future. Shares are initially purchased through sneaker IPOs, after which investors can sell their shares or choose to keep them until the shoes go to auction. At this point, shareholders will receive a dividend pay-out based on the shoes' resale value.
StockX Vault NFTs
Harnessing its reach as a streetwear platform, StockX Vault NFTs is a collection of non-fungible tokens (NFTs) that represent highly sought-after or rare sneakers. These NFTs can be held, sold or exchanged for the physical product, which StockX keeps in a vault like a traditional bank reserve. This brokerage allows people to flip sneakers without the inconvenience or environmental impact of packaging, shipping and authenticating their goods. Culturally, it represents a shift in the way people are buying fashion, distilling this process into a purely financial exchange, and decoupling streetwear investments from the need to physically own, hold or wear the product.
