If you made it out to Supreme’s weekly drop today, you may have noticed something a bit different across the street, a new billboard designed to get people who resell streetwear to start investing their money for retirement. The message comes courtesy of Wealthsimple, which is a new breed of investing service.
For the latest installment in the company’s Data series, Wealthsimple continues to dig into the numbers to learn more about how the world of money works, here focusing on the iconic streetwear imprint.
While most Supreme resellers are seemingly attempting to grow their money into more money, Wealthsimple wants to get such individuals to think about their future, more specifically, retirement. The investing service insists that one can become a millionaire simply by reselling Supreme goods, and that’s even before 60 years of age.
“Supreme is the only company anywhere, outside of like Tesla or some shit, where the sell-through rate is literally like 99 or 100 percent,” Lawrence Schlossman, brand director at the premier online reseller Grailed, told Wealthsimple. “I can’t think of any other brand that’s comparable. It’s hard to really put into words how much bigger the demand and want and audience is for Supreme products versus the amount of Supreme that exists in the world. Proportionally speaking, I can’t think of another business that has been so successful employing scarcity on purpose.”
After taking a look at the challenges of reselling, as well as the method behind the reselling madness, Wealthsimple provides info on the resell percentages of various items, notably the classic box logo tee, in addition to more hyped collaborative styles that tend to do very well. More notably, the company reveals that clothes most often outperform objects.
But once you’ve profited from your Supreme hustle (pun intended), what should you then be doing with your earnings?
Wealthsimple breaks it down that if you flip 149 items each year, with an average of $67 USD profit on each, then you will earn $10,000 USD annually. Then to turn 10 grand into one million, the firm recommends using a combination of extremely low fees, efficient investment portfolios, and simple software, like Wealthsimple, of course.
After locking down your Supreme hustle, be sure to check out the 10 best personal finance apps available right now.