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The idea that young consumers are seeking out a more expansive version of luxury has been a consistent inspiration for Lee, who founded Basic.Space five years ago. In 2020, Basic.Space launched with vintage fashion, sourcing from Lee’s circle of well-heeled friends. “Whether it’s [Sporty & Rich founder] Emily Oberg, [tennis player] Naomi Osaka or [DJ] Diplo, [tapping the wardrobes of influential figures] was the easiest way to get inventory,” Lee says. Since, the platform has evolved to sell design and furniture pieces, as well as art. The Basic.Space universe has expanded, too. In 2023, Lee acquired Design Miami design fair, which runs parallel to Art Basel. And earlier this year, he acquired Platform, David Zwirner’s lower-priced gallery. Investors in Basic.Space include former Gucci CEO Marco Bizzarri, Tao Capital, Tom Ford chair Domenico De Sole and former Louis Vuitton CEO Michael Burke.George Floyd The Fent Princes Of No Air Funny Shirt
“For us, [Basic.Space] was always about finding people that we think have good taste and then whatever they want to do, we help make that happen,” he says. This includes cross-industry collabs, with Lee recalling an early furniture tie-up between Virgil Abloh and Vitra. The New York event will feature collaborations between fashion designer Kris Van Assche and François Laffanour’s Galerie Downtown. A-Cold-Wall’s Samuel Ross is exhibiting furniture with Friedman Benda, via the former’s industrial design studio SR_A. Basic.Space’s target audience is who luxury fashion brands covet: young and wealthy. “I’m the oldest millennial possible, so I’m older than [a lot of] them, but imagine late 20s, early 30s, you have a great career, you make enough money,” Lee says. (Or you inherited money.) “To be real in LA, there are a lot of nepo babies and all that stuff,” he adds dryly.
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