MSCHF is back with a collaboration with Lil Nas X and the launch of Satan Shoes. This event created a stir when Nike sued MSCHF for stealing the product.
Alter/ˈɑːl.tɚ/ (v): to edit, change or refurbish something
On March 28, Nike filed a lawsuit against MSCHF for causing confusion and creating false associations with its Air Max 97 pair. The publisher of the pair of Satan Shoes said they changed it by adding a drop of blood mixed with Lil Nas alter into Nike's original design.
Unauthorized /ʌnˈɑː.θə.raɪzd/ (adj): lack of permission or authorization from the copyright owner
In this case, Nike sued MSCHF for unauthorized use of its product. Although the Satan Shoes carry the Nike logo, Nike said they have no connection to MSCHF or Lil Nas X and there is no guarantee from Nike regarding the shoes.
Drop /drɑːp/ (n): refers to limited batches of products released to the market, usually fashion products.
MSCHF said they only released 1 drop of 666 pairs of Satan shoes. Although the listed price was up to 1018 USD/pair, they were sold out in less than a minute.
Creating limited edition fashion products is a very popular advertising tactic. People often say "what is rare becomes precious", causing the prices of these products on the market to often be unexpectedly high.
Resale market /ˈriːˌseɪl ˈmɑːr.kɪt/ (n) A market for reselling products after they have been purchased at retail price, often used in the fashion industry.
Different from 'retail market' or retail market, where regular mass products are sold, 'resale market' is often used to buy and sell drop products. Satan Shoes are highly sought after in this market. It's understandable that only lucky people can own them right after launch.
Hype /haɪp/ (n) fever about user demand
With Drop products like 666 pairs of Satan Shoes, the number of people wanting to own them is so large that this event becomes a 'hype'. The proof is that 666 pairs of shoes were sold out in less than 1 minute of launch.
This is the reason why the price of the above product on the 'resale market' is 2-3 times higher than the original price.
Now that you know the common fashion terms, start chatting with fashionistas all over the world. EnglishTop study well.