Nestled within the upscale Gangnam district in Sinsa-Dong, Supreme’s first store in South Korea features floor-to-ceiling windows with the brand’s iconic red logo prominently displayed above the entrance, and an array of captivating artwork inside.One of just 16 standalone Supreme stores in the world – six of which are in Japan – the opening in Seoul earlier this month attracted a throng of eager customers who queued outside in anticipation of acquiring the brand’s exclusive streetwear tailored for the South Korean market. The store is the brand’s largest Asian flagship yet, and likely to be just the beginning of a broader foray in a country known for its fashion-savvy consumers. Founded in New York 1994, the brand was acquired by VF Corporation for $2.1 billion in 2020. It currently has a bricks-and-mortar presence in seven nations, including the United States, the United Kingdom, France, Italy, Germany, Japan, and now, South Korea.A giant leapAccording to an interview with GQ, Supreme sees a lot of room for growth in South Korea. Brand director Todd Jordan revealed that Supreme had been eyeing Seoul for the last six years. According to him, the brand was attracted to the city’s vibe, and that was more of a pulling factor than just trying to break into a new market.James Jebbia, the founder of Supreme, said that Seoul is as important as Tokyo or Paris, and that the target market in the city is “super cool and sophisticated, and while skateboarding culture is small and vibrant, the love for fashion, art and music is real and thriving”.Jordan emphasised that the brand will continue to serve the skateboarding marketplace, but said there is also room to scour the archives and reissue some classic collections.There is speculation that the brand may be opening a presence in China soon, following its entrance into the country last year through a collaboration with the upscale multi-brand retailer Dover Street Market in Beijing. But Jebbia told GQ that it’s all about “feelings and dynamics on the ground”. The global marketplaceAccording to Lyndall Spooner, CEO of Fifth Dimension, a consulting firm, the global skateboarding market was valued at US$145 million in 2022 and is anticipated to reach US$166.8 million by 2031.But Supreme will need to manage its growth in this space carefully, since it is not looking to become a mass-market brand, but rather a sought after one for people who are drawn to its unique brand personality.“If they change their look, they lose their brand identity,” she told Inside Retail. “The South Korean consumer who chooses the brand will want to stand out. Supreme is a brand that doesn’t classify anything as limited but only releases short runs and never re-releases products.”She believes streetwear is being driven by the increased demand for luxury products, with Asia having evolved into a dominant market in this space over the last ten years. “Market analysts estimate growth of up to 25 per cent in demand by Chinese Gen Z and millennial consumers for fashion, with the majority being driven by streetwear. Southeast Asia is not far behind showing strong growth in personal luxury consumption,” she added.Spooner thinks streetwear has enjoyed tremendous success because it offers the exclusivity and ‘street cred’ of legacy luxury brands, often for a fraction of the price. “For a growing South Korean middle class keen to show off their new status, streetwear represents an excellent combination of price point and prestige,” she noted.Little detailsShe also thinks Supreme is on to a winning formula by collaborating with well-respected local artists. This highlights how the brand uses ambassadors to cleverly link itself to local culture. “Ambassadors and influencers are a clever way to connect to youth culture as long as you choose the right people to collaborate with. You also create limited-edition pieces that consumers want to own and this generates desirability,” she said.These strategies, in her opinion, also create instant brand credibility and trust by linking the brand to respected and mass-followed influencers and celebrities. Spooner is a firm believer that brand desirability needs to be fed to be sustained – by having a regular stream of product innovations and clever marketing tactics. “Brands that are exciting do exciting things, they don’t stand still. They continue to create, innovate and percolate new ideas, concepts and activations,” she added.Nonetheless, with only one store in South Korea, she pointed out that customer expectations for Supreme will be high, and they will want to walk away with strong lasting positive emotions.“If the store design and customer experience do not live up to expectations there is a risk customers will not only walk away from the brand but share that negative experience on social media,” she concluded.