Stepping into Cultural Resonance: Unraveling Virgil Abloh's Influence using Excel and Tableau
An Exploration of Sneaker Re-sell using Excel and Tableau
"Introduction"
In the vast landscape of sneaker culture, we delve into a compelling narrative centered around the profound impact of Virgil Abloh's "The Ten" collection. Our exploration navigates through the intricacies of data, offering an in-depth analysis of StockX sales that transcends numerical values.
As we immerse ourselves in this journey, the data becomes more than just statistics; it transforms into a storytelling tool that unveils the cultural resonance and market dynamics shaped by the release and subsequent events surrounding "The Ten." Join me in unraveling the threads that connect artistry, market trends, and the intricate dance of anticipation and release within the sneaker world.
"Process"
The data for this analysis comes from the StockX Data Contest dataset from 2019. Here is a link to the project and dataset.
After cleaning and organizing the data, the columns that were relevant were analysis were: Order date, brand, sneaker, sale price, release date, net income, and percent return on investment (ROI).
After Analyzing almost 100,000 rows, the questions that stuck out in my mind were
- How did "the TEN" perform during the data cycle?
- How did Virgil Abloh's accomplishments effect the resale value of these shoes?
- How did later iterations of the Off-White x Nike Collaboration sale compared to the original "the TEN"?
"The Ten"
On August 17th, 2017, Nike unveiled that it would be creating a long-term collaboration with Virgil Abloh, a highly revered and established designed and visionary. Abloh's brand, "Off-White", would be the second name in the collaboration. This partnership would prove to be one of the most successful in sneaker history.
During this time, the sneaker resell market was having a cultural resurgence. With companies like The Goat Group and Stock X, it was easier than ever to get unworn, authentic sneakers from anywhere in the world. When the Off-White x Nike collection was announced, the power of these platforms would shine.
"Life Cycle" - The originals
Using Excel, I took the data on the on the original "The Ten" and created a pivot table showing the Percent ROI from Q3 2017 to Q1 2019.
Over the course of almost three years, after over 27,000 sales, the average return on "The Ten" was a 413% profit. With the average sales price of $179, a StockX reseller was making, on average, $560. That being said, the percentage of return varied greatly over time.
As we can see, the ROI over 400% more in 2019 compared to 2017. Using Tableau, the heat map below helps us visualize the increase in ROI from Month to Month.
"Digging In"
Virgil Abloh was an icon and visionary in the fashion world. Growing up as the son of a seamstress in the suburbs of Chicago, he learned to sew at a young age. The impact of clothing would remain a significant aspect of his life throughout his career. After studying Architecture, in 2009, Abloh interned with Fendi, an Italian fine clothing brand under the French group LVMH. Alongside Kanye West, who would soon become a visionary rapper and clothing designer, the two collaborated on numerous prolific projects, including West’s label “Donda.”
In 2013, Abloh founded his Milan-based streetwear company, “Off-White,” with which he would rise to stardom and gain a massive following. Off-White is recognized for its use of quotation marks, zip ties, and bold graphic prints, creating a unique and recognizable style.
- Announcing "The Ten"
The collaboration between Off White and Nike was announced in August of 2017. As the announcement was made, the World Wide release date was publish in November. Before this time, select resellers we able to get their hands on the shoes before the official release and sell on StockX. As the excitement grew, the price grew with it. Lets look at how the price fluctuate in 2017 as the shoes gradually became released:
Between September 9th, 2019 and November 9th, 2017, the resale price spiked at an average of 586%, an average sale of $1,048.94. After World-Wide release, however on November 9th, the ROI settled at an average 277%. That would be an average sale of $524.47, exactly half as much. As prices stabilized and shoes became more scarce, the price would refresh sales at an even higher ROI. What Influenced this continuous growth?
"The Louis Vuitton Effect"
As the shoes became a mainstay in the sneaker world, Virgil Abloh's prominence was more present than ever. On March 25, 2018, Abloh was announced as the new artistic director of Louis Vuitton, the French Luxury Powerhouse based out of Paris. With this incredible achievement, How did this effect the resell value of “The Ten”?
As the data shows, by April 1, 2018, 6 days after his appointment to Louis Vuitton, The price of “The Ten” jumped by a substantial margin.
As we can see in the Pivot Table and in our Tableau, a number of silhouettes skyrocketed in price, notably the Air Jordan 1 by almost 200%. On average, the shoe's resale value increased by more than $250 each.
"Different Silhouettes"
After the success of "The Ten", Nike and Off-White would go on to announce and release many additional shoes in the collaborative line-up. With the established achievement of the original shoes, how would the secondary line-up resell?
As you can see, some shoes had the same profile and profit as the original silhouettes. (Air Jordan 1 White with an average 921% ROI) That being said, the total ROI on these shoes was slightly under the original "The Ten". Using Tableau, lets look at the highest performing shoes in the data collected.
"Conclusion"
- Data Snapshot:
- Analyzed 100,000 StockX data rows (Q3 2017 - Q1 2019).
- Explored the dynamics of sneaker culture, focusing on Virgil Abloh's "The Ten" collection.
- Resale Impact:
- Peak resale of the original 10 at an extraordinary 1300%.
- Average net profit soared to an impressive $560.
- Influential Factors:
- Pivotal moments like Virgil Abloh's Louis Vuitton appointment correlated with notable shifts in resale values.
- A nuanced interplay of artistry, market dynamics, and external events emerged as influencers.
- Cultural Resonance:
- Beyond numerical trends, the data encapsulates the essence of cultural resonance.
- "The Ten" legacy extends beyond data points, symbolizing a transformative moment in sneaker culture.
Legacy Beyond Resale
Thank you so much for checking out my Virgil Abloh Project! Please leave me a comment below and let me know what you think or if you have any questions! I'd love to connect through Linkedin or via Email!
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