What is now a substantial commercial category began as small operations serving specific scenes, selling to people who were participants rather than customers.
The transition to its current position happened within about two decades and the mechanics are worth setting out.
The original structure
Small shops, frequently attached to a skate, surf or music scene, producing limited quantities of printed goods.
The audience was local and knew the people involved. Authenticity was not a marketing claim; it was a fact about who made the thing and who wore it.
Scarcity was a consequence of small operations with limited capital rather than a strategy.
And the pricing was ordinary, because the customers were young people in a scene rather than a luxury market.
What changed it
Several developments, arriving over about a decade.
Scarcity became deliberate once the operations realised that limited releases sold out and generated attention.
The internet removed the geographic limit, so a small shop had a global audience and the same production capacity.
Collaborations with established brands brought credibility in both directions and enormous reach.
And luxury houses, facing an ageing customer base, acquired or partnered with these operations to reach younger buyers.
That last step is the decisive one, and the acquisitions involved were very large.
What the transition did to the product
Several visible effects.
Prices rose to luxury levels for products that are frequently manufactured to ordinary standards, since the value is in the name rather than the construction.
The design language spread into luxury generally, so that houses with no connection to the scenes involved produce garments in the same idiom.
And the audience changed from participants to consumers, which is the change that people within the original scenes object to most.
The authenticity problem
Which is genuinely difficult rather than merely nostalgic.
A brand's value in this category rests on association with a culture it emerged from.
Once ownership passes to a conglomerate and the customer base is global consumers, that association is a marketing asset rather than a fact.
The brands that have handled it best have retained the people, continued to support the scenes, and kept some production and pricing at the original level.
The ones that have handled it worst have retained the imagery and discarded everything else, which is visible and which the original audiences identify quickly.
The appropriation question
Which cannot be avoided in an honest account.
Much of the aesthetic originated in Black and Latino communities, in specific cities, in conditions that were not affluent.
The commercial value has accrued substantially to companies and individuals outside those communities.
This has been discussed extensively by people from those scenes, and the objection is generally about credit and about who profits rather than about who wears what.
Some brands have addressed it deliberately through ownership, hiring and support for the communities involved. Many have not, and the ones that have not tend to be the ones using the imagery most heavily.
Where the interesting work is now
The pattern repeats, which is worth noting.
Small operations with genuine connection to specific scenes continue to emerge, sell locally, and are interesting for the same reasons the originals were.
Some will follow the same path, and the ones that do not will remain small and will be better for it by most measures except commercial ones.
Which suggests the cycle is a feature of how commerce absorbs subculture rather than a failure of anybody's integrity, and it has happened to every scene that produced a saleable aesthetic.
What a buyer might reasonably do
Buy from the small operations if the connection matters to you, since that is where the money reaches the people involved.
Recognise that a large brand's heritage story is a marketing asset and price accordingly, which generally means not paying a premium for it.
And judge the garment on construction and design rather than on the narrative attached, which is a reasonable position for any category and is unusually difficult here because the narrative is the product.
The resale market as a filter
One further consequence of the commercialisation.
When items carry substantial resale value, a proportion of buyers are purchasing to sell rather than to wear.
Which changes who is in the queue and what the product is for, and it is the specific development that people within the original scenes object to most concretely.
Some brands have responded with measures intended to favour actual wearers — local collection, purchase limits, in-person release — with partial success.
The tension is unresolvable while the premium exists, and the premium exists because the supply is restricted, which is the brand's own decision.
What the garments are actually made of
A point worth making since the prices imply something.
A great deal of the category is printed cotton jersey and fleece, produced by the same manufacturers serving the wider market.
Construction quality varies and is frequently ordinary at prices that are not.
Which is not a criticism so much as a description. The buyer is purchasing a design and an association, both of which are real things, and the garment underneath is generally a blank that costs a small fraction of the price.