Brands aside, the fit and styles differ. I've generally viewed hipster and street to be opposites of each other. But maybe it's merging on some level?
The mainstream conception of the hipster look is "skinny jeans, trucker hats, Costello glasses, slogan tees, PBR, Vans, and All-Stars," according to TONY.
Recent trends in hip hop fashion have geared toward a tighter, hipster-inspired style of dressing (so called "prep-hop"), which is coming to include raiments such as Nike Dunks, polo shirts (often worn with popped collar), sportcoats, large ornamental belt buckles, skull and skeleton decorations, elaborately decorated zip-up hoodies, trucker hats (Von Dutch), fitted caps (New Era Cap Company), tight tee shirts (Dangerous Elite), tighter denim jeans. Shorter length t-shirts with shorter arm sleeves has become involed in recent trends because of wanting to expose decorated belts. In some circles, the baggy style has faded away, with the growing influence of rappers such as Kanye West, Common and Andre 3000, often sporting such colorful fitted prep-hop and hipster-inspired clothing, and tighter-fitting skater influenced styles in the case of Pharrell. Yet, the baggy style remains active in other places despite recent trends.