Business of HYPE is a weekly series brought to you by HYPEBEAST Radio and hosted by jeffstaple. It’s a show about creatives, brand-builders and entrepreneurs and the realities behind the dreams they’ve built. On this week’s episode, Jeff sits down with Urban Necessities founder Jaysse Lopez.
You may have recently walked by NYC’s American Eagle on Houston & Broadway and seen a Supreme pinball machine or a massive amount of sneakers set up shop. Originally located in Las Vegas, Urban Necessities recently formed a partnership with the billion dollar corporation.
What is now the “disruptor” in retail, Urban Necessities began with shaky footing as Jaysse’s path to success was not easy. In 2001, with no home, phone or car, and only $20 USD in his pocket, he landed in Las Vegas and used his grit to turn one sneaker into a successful consignment business. By 2014, his business became Urban Necessities and landed a storefront inside Boulevard Mall. Within three months he earned over a million in sales and since then relocated his store to the Las Vegas strip’s Fashion Show Mall.
In this episode, Jaysse briefs us on how he turned that $20 USD into $20 million USD and why he chose to partner with American Eagle. While this union may be atypical for some, for Jaysse it serves as a solution to help revolutionize the struggling retail market. Bringing barbers and tattoo artists to the space, he hopes to diversify the shopping experience. So tune in to hear his journey, from flipping his first sneaker, to setting up shop nationwide.
This episode features references to the following:
4:21 – Urban Necessities‘ first store
5:04 – Jaysse’s beginnings
10:44 – First shoe he sold: Nike Barkley Posite Max “Area 72”
10:57 – Flipping sneakers
13:46 – Las Vegas trade show
15:54 – Franalations
16:21 – First store in Boulevard Mall
18:21 – $1 million USD in sales
19:51 – Finish Line
20:34 – Fashion Show Mall
25:00 – Business model
28:07 – 10% consignment rate
29:24 – Handling fakes
32:15 – American Eagle
32:34 – Mayor
34:00 – Agenda Show
36:30 – Jeffrey Schottenstein of Tackma
39:22 – Jay Schottenstein, CEO of American Eagle
40:39 - AE x Urban Necessities partnership
49:40 – Expansion plans
50:42 – American Eagle ownership
51:18 – Future projects
55:10 - jeffstaple’s IG post
58:38 – Kith x Atrium
1:00:07 – Foot Locker & GOAT
1:01:46 – Reed Space x Pacsun