Is Streetwear Still Cool?

Luxury is over its streetwear obsession.

This season, sneakers and hoodies rarely graced the fashion week shows of megabrands in Milan and Paris as they did in previous years, while luxury-streetwear tie-ups such as Air Jordan and Dior or Supreme and Louis Vuitton have become less frequent.

Balenciaga, which under creative director Demna made hoodies and chunky sneakers luxury essentials, has since widened its focus to couture and red carpet…