Paris It-brand Vetements is undoubtedly having a moment - so it comes as no surprise that someone has already launched a parody of one of its cult items - enter, the Vetememes raincoat

They say you've made it as a designer as soon as the cheap knockoffs start rolling in. So the designer of cooler-than-cool label Vetements, Demna Gvasalia (who also helms Balenciaga) should be feeling supremely flattered. In what is surely a confirmation that Vetements is at the A-game of fashion right now, 22 year old New Yorker Davil Tran launched a parody label, Vetememes, just two and a half weeks ago.

While his product offering is slim at best (he spruiks just one product: the Vetememes-branded black rain jacket), the US$59 price tag is easily a third of the original's cost. Retailing for upwards of US$185, the Vetements rain jacket is the kind of hot-ticket item that is sold out across websites like Ssense and La Garçonne, then fetches even higher prices on eBay. So naturally, the parody version has been slavishly reported on by the online fashion community, with the Vetememes Instagram proudly publishing press received from Fashionista, Vogue Runway, Racked, High Snobiety and more.

Meet Vetememes, the parody of fashion’s hottest label

Funnily enough, it's exactly the kind of buzz that the real brand has been building over the last 12 months. So successful is this parody, that it's led some to speculate whether the Tran parody will be liable for lawsuit. Speaking to WGSN, Tran says the higher resale value of the rain jacket simply fascinated him. "I wanted to start with the raincoat because of how "meme" it is. You can't look at any street style right now without seeing it," he explains. "It's pretty rare that a designer brand resells for [higher than the retail price] and Vetements is doing that right now."

Asked why he thinks the Vetements rain jacket is so popular, he offered this: "I think it's the limited-edition aspect. You definitely can't just go to a store and buy a Vetements raincoat right now. I think the hype helps, and also gives it a status because of how high the aftermarket value gets."

While it remains to be seen what Vetements thinks of their copycat version, we have to applaud Tran for striking while the iron was hot. Wonder how many Vetememes jackets he'll sell?

Meet Vetememes, the parody of fashion’s hottest label