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Fashion November, 5 2013

Flipping Supreme – The Story of a Chinatown Reseller Raking in Millions

In a run-down mall off of Elizabeth Street in Chinatown, Unique Hype Collection is in the business of buying clothing from brands like Supreme at retail prices, waiting until the items have sold out, and then putting those items up for sale with a significant markup. “I’ve brought in seven figures a year for the last two years,” Peter, the owner of the store, recently told The New Yorker. Peter hires between 10 and 30 people to stand in line each time Supreme releases clothing, allowing him to profit substantially once the items have sold out.

“Every other brand besides Supreme sees a design that sells out, and so they make it over and over. But if Supreme knows an item is selling, they’ll stop making it, never make it again, and try something else.” This is why, as Peter explains, “Supreme is the only brand whose clothing becomes more expensive as time passes. Every other brand, except Polo maybe, if you don’t sell it this season, it’s not going to move.”

The entire article can be read over at The New Yorker.

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