- Apr 30, 2011
- 8,236
- 10,942
I still question if there's a single Kith customer who's spent 50K and has a majority of those purchases still, let alone all of it. Again, sales with this company are a little deceptive because it's collectible. And in a way that brands like AMM (with a tiny apparel footprint) and Givenchy are not.50k spent is wild. Victor Cruz should send a thank you card considering you paid for his last 3 vacations.
Where Kith has made a niche is in this pseudo-luxury space. And if you actually look at the value of a dollar today vs 2018 (which I'd call the inflection point for Kith as a collectible brand), their prices aren't THAT high which is important to maintain the collector/hobbyist appeal. When they start getting into mega luxury/runway prices you lose probably 80% of the customer base who are making repeat purchases.
My biggest issue with Kith right now is that they basically have a formula they're running with and the creativity of collaboration and even their own designs has waned considerably while their investment has skyrocketed to fund their physical footprint. Even with their seasonal wear a lot of it is not new, it's just different colors or a slight variation on a previous year's stuff. Newer customers probably don't even realize it because it's not like it's particularly easy to see a history of all their products or iterations of them. But you can only expect the growth to continue so long if it's insert ____ brand in ___ colorway shirt/hoodie/hat.
Uncle Ronnie can only tell us so many products and brands are near and dear to his heart before even the custiest of custies figures out it might just be transparently bad marketing to justify inflated prices.