Supreme was the top dog during the ‘10s — at least as it relates to resale.
That was one of the findings of TheRealReal’s 2010s Retrospective report, which the company will release today.
Supreme was ranked number one in the company’s list of the top 10 brands with the strongest resale value for the decade. The standout item for the brand was a box logo hoodie.
Second was Goyard, with its St. Louis tote leading the way. Van Cleef & Arpels and its Alhambra bracelet was third on the list, followed by Hermès with its Birkin bag. Fifth was Louis Vuitton and its Neverfull bag, sixth was Rolex with its GMT-Master watch a favorite with resale buyers. Others in the top 10 were Tiffany & Co., led by its bone cuff, Patek Philippe and its Aquanaut Travel Time watch, Cartier’s Juste un Clou bracelet and Moncler’s Moka puffer coat.
The decade also saw the emergence of Millennials as the top purchasers of resale items. Prior to 2010, that age demographic was the second smallest, but it is now the largest, and is spending more on higher-priced investment pieces, the report said. Spending on jewelry was up 184 percent among Millennials, followed by a 146 percent jump in watch sales, 64 percent for men’s bags, 47 percent for women’s bags, and 66 percent for sneakers.
TheRealReal also singled out the top three brands with the fastest growing resale value over the decade — Gucci, Fendi and Dior — and attributed their popularity to some of the changes that have made the brands more desirable.
“New creative directors, successful new ‘It’ bags, successful old ‘It’ bags — these are just a few of the factors propelling the brands with the sharpest rise in resale value,” the report said.
TheRealReal said that some creative directors at the luxury houses have had a major impact in making their brands more valuable and cited Kim Jones in particular as making the average resale price of Dior Men 5.2 times stronger. Jones was followed by Daniel Lee at Bottega Veneta, who made the brand four times stronger; Riccardo Tisci who made Burberry 2.9 times stronger, and Virgil Abloh, who made Louis Vuitton 2.6 times stronger. Other creative directors who had a positive impact on their brands included Alessandro Michele at Gucci, Demna Gvasalia at Balenciaga and Hedi Slimane at Celine, the report said.
Sasha Skoda, head of women’s for TheRealReal, said in terms of fashion trends, it was “maximalists” whose styles sold three times as frequently in the resale market. “Decade-defining designers had a major impact on the rise of distinctly different fashion tribes in the 2010s, from Phoebe Philo spurring minimalist-loving ‘Philo-philes’ to Alessandro Michele charting an over-the-top course for maximalism,” she said. “in the past decade, a new source of fashion influence also emerged: social media. Social influencers drove the Nineties comeback and are defining a new era where personal style reigns supreme.”
Turning to contemporary brands, TheRealReal saw a shift from the early part of the decade when department store-era brands such as Alexander Wang, Diane von Furstenberg and Kate Spade ruled, to the social media-era that became prevalent starting in 2017 and continued through the end of the decade. Top brands in those years ranged from Cult Gaia and Mother to Ganni and Jacquemus, the survey said.
The decade also saw the popularity of sustainable brands, with Stella McCartney leading the way. Overall, labels deemed sustainable had a 1.5-time stronger resale value during the 2010s, the survey said. Other leaders include Nanushka and Bode.
Not unexpectedly, streetwear also “took the 2010s by storm, making a rapid migration from niche to mainstream,” said Sean Conway, streetwear and sneaker expert at TheRealReal. “Coveted collaborations and exclusive drops created omnipresent appeal that drove demand and skyrocketed value, blurring the line between streetwear and luxury.”
The most popular were Vuitton’s collaboration with Supreme, whose average resale value was 4.5 times stronger than Louis Vuitton product alone and 1.9 times stronger than Supreme product alone, and the Off-White x Nike’s collaboration, which was 6.3 times stronger than Off-White alone and 6.1 times stronger than Nike alone.
Other trends that surfaced over the decade include the emergence of vintage, or what TheRealReal calls “The New New.” The report says: “The ‘10s were in large part defined by a desire for other decades,” including styles from the Seventies up to the Aughts. “As personal style becomes synonymous with self-expression, buyers are latching onto vintage pieces to make a more unique statement,” Skoda said, adding that Millennial shoppers were especially enamored with the past, becoming the largest vintage buying group.
Gender fluidity also moved to the forefront in the decade with the site seeing a 3.5-time increase in women buying men’s sneakers since 2017 and a 1.6-time increase in men buying women’s handbags in the same time frame.
The growth in resale is part of the trend toward more sustainable shopping, the report said, and bodes well for the future of the resale market. The report said 60 percent of shoppers surveyed said they will buy more resale merchandise in the new decade, 55 percent said they will buy less fast fashion, and 46 percent said they will seek out more sustainable brands and retailers.
“In the 2010s, there was a mass increase in awareness of the climate change crisis and the dark side of fashion’s footprint,” said Allison Sommer, director of strategic initiatives for TheRealReal. “As we look to the decade ahead, buyers tell us they will make major changes to shop more sustainably than ever before.”