What are Gen Z investors wearing?
Jung bought six pieces of the last drop Fear of God Essentials for himself and his friends. In his enthusiasm for the brand, he even paid up to $400, more than three times the retail price, for Fear of God hoodies on StockX.
“For young entrepreneurs, the sky’s the limit today,” says sneaker-loving sisters Ariana (27), Dresden (25) and Dakota (21) Peters (@TheChicksWithKicks), who have a collection of sneakers from worth about $6 million. Their latest Ebay auction included over 2,000 pairs of sneakers. Current listings on the platform range from $350 to $2,000.
“The idea of a businessman has completely changed – they can look like anyone,” the Peters sisters say. When not wearing sneakers, they prefer brands with individuality, buying dresses from American label Zimmermann and colorful luxe heels from shoe names Amina Muaddi and Mach & Mach. “Sometimes it’s fun to engage in a few trends [luxury] pieces at the moment but overall when we invest in our wardrobe and accessories we like to keep them timeless.
Los Angeles atmosphere
Los Angeles is a thriving hub of activity for a hustle culture that mixes crypto activity, streetwear, social media and Gen Z energy. According to experts, Los Angeles-based labels Fear of God, Amiri and Rhude Los Angeles has a strong appeal to young investors and entrepreneurs because its founders understand new consumers who have made money in non-traditional ways.
Amiri creates tailoring, denim and streetwear for young affluent consumers who want quality without the formality. Her recent Fall/Winter 2022 show caused quite a stir at New York Fashion Week, despite showing in Los Angeles. “Amiri does not fit into a traditional box. We challenge the idea of a luxury home perched on a marble pedestal,” says founder Mike Amiri, who sold a minority stake in the company to Italy’s OTB in 2019. Generation Z is looking for something more personal and prioritizing their own needs, rather than adapting to what they are told are their needs… They are used to having access to the world at their fingertips.
Rhude’s founder, Rhuigi Villaseñor, considers himself a member of the new generation of entrepreneurs and investors. “I’m well within the age range of this current. I have a direct understanding of the consumer and their thought process. Clothes are reactive to thought,” he says. The new luxury should be “something real”, he suggests. “What people want to wear everyday – real workers.”
Gen Zers who have money don’t necessarily spend the money. Lea Thompson, a crypto investor who founded @GirlGoneCrypto, says she enjoys exploring luxury brands. “But I think my frugal side will never totally die,” she says, explaining that she still enjoys finding Gucci or Prada pieces on luxury resale sites such as Poshmark alongside her shopping trips to Nordstrom or Neiman. Marcus.