Shubbs are no-name brand clothing and/or shoes. Shubbs can also be used to describe replica clothing, fakes, knock-offs, etc. Any clothing/accessories purchased from Payless, Walmart, or Kmart are shubbs.
Look at Johnny's sneakers. They look like Nike's but they're really shubbs from Payless.
That purse is a shubbs Louis Vuitton. The logo is all crooked and shit.