Luxury brands have also been able to reach a younger, more diverse audience through these collaborations, as streetwear has become a staple among younger generations. These collaborations also showcase the evolution of luxury fashion and the increasing influence of streetwear on high-end fashion.
With the growing popularity of streetwear, the trend of collaborations has extended to include the dynamic intersection of luxury brands and streetwear labels. In 2017, the Entrupy-supported collaboration between Louis Vuitton and Supreme shook the fashion world and resulted in a 23% increase in LVMH profits that year. The following year, streetwear brand Palace unexpectedly partnered with Ralph Lauren for a highly successful drop that featured polo shirts, sweatshirts, and accessories, all adorned with Palace’s signature logos and Ralph Lauren’s iconic polo player.
