George Condo x Supreme Skate Decks| Source: Hypebeast.com

In Part I, we examined how New York-based streetwear company Supreme became a global cult brand with its own myths, iconography and belief systems. Today, we explore the creative and commercial philosophies that underpin Supreme’s lasting success, courtesy of our friends at 032c.

NEW YORK, United States — The mythology behind legendary New York streetwear brand Supreme is so potent, it’s easy to imagine founder James Jebbia as a king pin of downtown Manhattan. But as he will be the first to tell you, that couldn’t be farther from the truth.

In fact, Supreme’s core creative and business philosophies are the sum of Jebbia’s patchwork retail past; not, as one might assume, a storied legacy in skateboarding. His resume reads like a series of interconnected Google-map pins on a late-80s and early-90s SoHo New York. A British-transplant who arrived in New York around 1984, Jebbia got a job working at the now-defunct Parachute clothing store in SoHo.

“I didn’t know what I was doing, but I knew I enjoyed clothes,” he says. He quit five years later to open, along with his girlfriend at the time, a small flea market on Wooster Street inspired by the myriad of stuff he coveted from The Face and i-D magazines. The project evolved into his first proper store, Union, an experimental shop on Spring Street that carried “mostly English brands” and one very important streetwear juggernaut at the time by the name of Stüssy. This allowed Jebbia to work with Shawn Stüssy, who asked him to partner with him to open one of his eponymous boutiques on Prince Street in 1991.

When Stüssy left the business, Jebbia opened up Supreme in 1994 in a small storefront on Lafayette, a then-desolate street that was a perfect place for his clientele to skate first, shop second – an order that would very quickly be reversed. “I opened Supreme because there were no other decent skate shops around at the time,” Jebbia says. “I thought, cool, I might as well be the one to do it.”

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Looks from Supreme NYC Fall/Winter 2011 Lookbook | Source: Weareyouneak.com

In a two part series, courtesy of our friends at 032c, BoF takes you inside notoriously press shy, New York-based streetwear brand Supreme. Today, in Part I, we examine how Supreme — the Chanel of downtown streetwear —became a global cult brand with its own myths, iconography and belief systems.

NEW YORK, United States — When the controversial young rapper Tyler, The Creator won the award for Best New Artist at the 2011 MTV Video Music Awards in August, he offered an enthusiastic, yet expletive-laden acceptance speech. “Yo, I’m excited as fuck right now, yo,” he said. “I wanted this shit since I was nine. I’m about to cry.” But with MTV’s censors on high alert, the speech was broadcast more like this: “Yo, I’m excited as - -— -- -, yo. I wanted -- -- -- – —- --. - -— - --.”

With the audio missing for about a minute straight to avoid any profanities and Federal Communications Commission (FCC) fines, viewers were left with no choice but to absorb Tyler’s image in mute. Clad in skinny dark jeans, an oversize tie-dye T-shirt with an image of a cat’s face on it, and a Supreme baseball hat with a leopard print brim, Tyler, who is 20 years old, was the only artist at the award show who could be said to actually embody how young people dress today. No outfit made from meat, no fancy three-piece suit with a cocked fedora, no oversize bling: Tyler looked exactly how certain young men at this very moment choose to wear their clothes on the streets all over the globe.

It’s no coincidence that the only logo the image-conscious Tyler wished to communicate was the one on his Supreme hat. After all, Tyler’s hodgepodge street aesthetic – a big chunk of skateboard culture and urban hip-hop with a dose of American sportswear prep and a winking, intelligent take on hipster irony – is the one Supreme has been cultivating for the past 17 years since opening its first shop on Lafayette Street in 1994.

The flashy sartorial sensibilities of, say, Russell Brand or Kanye West have mutated into their own category of sub-entertainment and, more often than not, their personal styles do not reflect the current vogue. So how then did the Supreme aesthetic finally become one of the most honest representations of how men choose to wear their clothes in the global mainstream today?

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Gilt Groupe warehouse | Source: Fantabulously Frugal

Today, BoF takes an in-depth look at the past, present and future of Gilt Groupe’s business model and speaks with Gilt Groupe CEO Kevin Ryan on his plans to continue the company’s ascendance.

NEW YORK, United States — Back in November of 2007, BoF was amongst the very first media outlets to write about Gilt Groupe, the New York-based start-up that went on to dramatically reshape the online retail market for fashion, building a community of high value consumers around limited-time, members-only “flash sales” for designer apparel at steeply discounted prices.

The timing of Gilt’s launch couldn’t have been better. In the months that followed, fashion and apparel brands began to feel the impact of a global recession that would ultimately give rise to one of the most challenging macroeconomic environments in the history of modern retailing. Seemingly overnight, wholesale inventories became unmovable as retailers drastically reduced product assortments and orders.

As a consequence, many fashion brands were forced to liquidate excess inventory positions, causing a sudden and significant supply glut for “cut out” goods. Prior to the Great Recession, brands would have sold this excess inventory through off-price channels like Loehmann’s, T.J. Maxx and Century 21. But as the economy sank, these retailers were asking for discounts as high as 90 percent, while merchandising clothes in a haphazard fashion which did nothing to protect the high-end image brands had spent years cultivating.

What’s more, the extreme market conditions of the Great Recession created an acute financial imperative for retailers — off-price, as well as full-price — to convert their own excessively large inventory positions into cash, leaving many brands almost without any viable sales channel, let alone one that would protect brand equity.

Gilt charged onto the scene like a knight on a white horse, providing a novel, efficient and brand-sensitive way to liquidate excess inventory and enjoying explosive growth in the process. Based on this momentum, Gilt Groupe raised $138 million last May in a new round of financing, valuing the four-year-old company at $1 billion.

But fast-forward to the end of 2011 and flash sales are facing significant challenges. Here, BoF examines the rise, stumble and future of Gilt Groupe’s business model.

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Elin Kling | Source: GQ

In this instalment of The Business of Blogging, we speak to Elin Kling, the Swedish blogger behind Style by Kling.

NEW YORK, United States — “For me, it was a business from day one; I did it as a job,” said the ambitious Swedish style blogger Elin Kling, recalling how she first began blogging professionally for Stockholm-based media site Stureplan, back in 2007. “In Sweden, every third girl is running a blog,” said Kling. Indeed, in a country ranked first in the world by the World Economic Forum in its use of computing and communications technology, a staggering 39 percent of young women (aged 16-25) write or have written a blog, according to an annual report by Sweden’s World Internet Institute. “If you do it, you need to do it 100 percent,” explained Kling. “And to do that, I had to make a business of it.”

Kling began chronicling her outfit choices, fashion inspiration and other aspects of her daily life, and success came swiftly. “It became Sweden’s largest fashion blog in two days,” she said, attributing these results to Stureplan’s existing traffic and the popularity of a weekly column, also called Style By Kling, that she had been writing for the site before she began blogging in earnest.

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Julia Fowler and Geoff Watts | Source: Editd

LONDON, United Kingdom — Clearance sales point to a perennial problem in the fashion industry: the misalignment of supply and demand. Using traditional market research, brands and retailers are unable to predict with high accuracy what products consumers will actually purchase during any given season. As a result, merchandise that doesn’t sell is marked down, while demand for popular items goes unmet, leading to significant loss of income.

But better aligning supply and demand is a complex matter. That’s because, in trend-driven product categories like fashion, historical sales data never results in consistently better commercial decisions. What brands and retailers really require is information about what’s going to happen, not what’s already happened. But traditional fashion forecasting tools like panel-based research and trend reports are slow and unscientific, leaving buyers and merchants to make important business decisions based largely on intuition.

Now, an ambitious London-based startup called Editd — which, earlier this summer, raised a $1.6 million round of seed funding led by Index Ventures, investors in Net-a-Porter, Etsy and ASOS — is offering a realtime data monitoring and analytics platform that makes commercial decision-making in the fashion industry more scientific.

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