Despite predictions that “collab fatigue” was on the horizon, 2023 has seen a consistent stream of co-branded releases wind up on resale sites at record-level price premiums.
A price premium refers to the percentage that the price of a product exceeds its original retail price. In short, these are items where the demand exceeds supply. Due to the novelty of two brands coming together for a unique project that differs from their solo offerings, released in a limited run via carefully curated distribution methods that drive hype, collaborations have seen some of the biggest upsurge in prices at resale in 2023.
According to global resale platform StockX’s latest Big Facts annual report, brands such as luxury watch manufacturer Blancpain, Mugler, Sporty & Rich, and Sandy Liang saw online searches spike due to blockbuster brand collabs. One of the biggest hits of the year, sparking headline-making queues outside stores all over the world, Mugler x H&M saw searches for the French fashion house increase by 4,529%, according to StockX.
Among the collection’s most popular items, the Mugler H&M Corset-Waist Hooded Jacket is currently being sold at a 65% price premium, and the Mugler H&M Mesh-Paneled Bodysuit is listed at a 166% premium.
Unlike Mugler x H&M, Nike and Tiffany’s collaboration in March this year received widespread online criticism for the products’ design. However, StockX searches still increased 920%, with the Nike Air Force 1 Low by Tiffany & Co. being listed at a 191% premium.
Sneaker hype continues#
Sneakers continued to lead the global resale market throughout 2023, with the Jordan 1 Retro Low Golf Travis Scott in Neutral Olive taking top spot, selling at a 397% price premium.
Close behind is the Jordan 1 Retro Low OG Sp Travis Scott Olive at a 342% premium, followed by the Nike SB Dunk Low collaboration with Born x Raised on the “One Block at a Time” sneaker, which was listed at a 323% premium.
Though “quiet luxury” has been a trending theme of the year, the sneaker resale culture boom continues, and should be on luxury brands’ radar. From Nike x Martine Rose seeing StockX searches rise by 448%, to New Balance x Ganni generating a 529% search increase, venturing into footwear via major sportswear players is a winning formula for brands. Take for instance Jacquemus' most popular products on StockX – sat among the brand’s best-selling Le Grand Bambino and Le Chiquito handbags - are the Nike Air Humara LX sneakers, which debuted at the end of 2022.
Despite brands not directly financially benefiting from the resale market, the extended level of marketing exposure that sites such as Dewu, eBay, Depop, and StockX can generate, builds cultural capital and boosts reputations.
Seeing as high fashion sportswear and high-low crossovers produced the top hits of 2023 in the resale market, we can expect to catch more in droves in the year ahead. Watch this space.