- 2018 has been a significant year for the retail sector. Some of the nation’s most established stores have learned that they have the unenviable choice to either adapt or die.
- Many have taken lessons from the trendy young startups that have swooped in and redefined the way we shop.
- These are some of the brands that have exploded in popularity 2018.
2018 has been a significant year for the retail sector.
Wounded from the so-called retail apocalypse that defined 2017, some of the nation’s most established brands have been faced with the fact that they either have to adapt or die. As a result, many have been forced to take lessons from trendy young startups that have swooped in and redefined the way we shop.
From Gucci and Balenciaga to Crocs and Glossier, these are some of the most explosively successful brands of 2018:
After receiving a $500 million cash injection from the Carlyle Group in 2017, the company hit a $1 billion valuation. It has continued to grow throughout 2018, making the top 10 list of teens‘ favorite brands in four consecutive biannual surveys done by Piper Jaffray.
This trendy streetwear brand is known for its product „drops,“ which have become some of the most anticipated events of the year for its followers.
During the season, these drops happen every Thursday online and in stores.
Californian skater brand Vans has been around since the 1960s but has exploded in popularity in recent years. After it was acquired by VF Corporation in 2004, it went from selling 90% of its products in California to growing its reach across the globe, making the leap to Asia and Europe.
According to Piper Jaffray’s latest „Taking Stock With Teens“ survey, it has had the fastest growth in popularity since the study began in 2000.
Crocs has been experiencing a comeback thanks to the „ugly fashion“ movement.
Sales were up 4.7% in the most recent quarter versus the year before, and its popularity has skyrocketed over the past year. According to Piper Jaffray’s biannual survey of teen preferences, it now ranks 13th out of all footwear brands for teen popularity, up from the 27th and 38th position the year before.
As a result, high-fashion designers have been eager to repurpose the brand as an ironic high-fashion icon. Balenciaga’s $850 platform Crocs sold out almost instantly. A follow-up Balenciaga Crocs stiletto also went viral.
See the rest of the story at Business Insider
Source: Business insider