Highsnobiety is reporting that cult streetwear label Vetements is about to go belly up. The brand – famed for their $200 DHL tee shirts, guerilla-style Paris fashion events and oversize, cartoonish silhouettes – became an instant hit when it debuted in October 2015, catapulting it’s designer Demna Gvasalia all the way to the head design post at Balenciaga.
“From a retail stand point, Vetements is completely dead,” an anonymous source tells Highsnobiety. “Over the course of two seasons no one is even looking at it. Sales have dropped dramatically to the point where you are now seeing Vetements on sale on various outlets at 60-70% off.”
Another source says that Vetements became a receptacle for anything Gvasalia didn’t want to include in his well-recieved collections for Balenciaga – and sloppy seconds is not what the fashion elite want to buy. So before the Vetements gravestone is officially announced, one can still score a Snoop Dogg tee shirt – for a cool $924.