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Meet a man, a school dropout, who earns millions reselling sneakers at age 24, backed by Indian billionaires Vedant Lamba - Founder of Mainstreet The sneaker trend in India has been gaining momentum in recent years. Sneakers have become popular among youth due to their comfort and style. Even the resale market for sneakers has seen a significant rise in popularity in recent years. Sneaker enthusiasts and collectors are increasingly turning to resale platforms to buy and sell rare and limited-edition sneakers. Vedant Lamba, founder of one of India’s largest marketplaces for sneakers, Mainstreet Marketplace, is a great example who made sneaker resale a lucrative business. The idea originated after Lamba created a YouTube Channel named ‘Main Street’ in 2017. He developed the channel later into a full-fledged start-up called Mainstreet Marketplace. At the age of 24, Lamba already showcases remarkable business acumen, evident from the scope and success of his venture, Mainstreet Marketplace. The company parades an extensive lineup of more than 3,000 products, ranging from sneakers to various t-shirts and hoodies. According to ET, Lamba said that the startup closed FY22-23 with Rs 24 crore in revenues, and is expected to reach the Rs 100 crore revenue mark in FY23-24. Moreover, the rapid growth and potential of Mainstreet Marketplace even captured the attention of Indian billionaires, securing a significant investment of $2 million. This investment round included businessmen such as Deepinder Goyal, the CEO of Zomato, Nikhil Kamath, the co-founder of Zerodha, and even famous rapper Badshah. This influx of funds has proven key in speeding up the company's growth. The Mainstreet Marketplace platform also claims to have an exclusive clientele that includes Bollywood celebrities such as Ranbir Kapoor, Karan Johar, Ranveer Singh, etc. With a record of selling more than 50,000 sneakers, the brand has made a remarkable impact in major urban spheres of India, including Mumbai, Delhi, Bengaluru, and Hyderabad. Vedanta had no college education. He once tweeted that he dropped out of high school. He studied at Pune's St Mary's School between 2005 and 2010. Mainstreet Marketplace, a multi-brand resale platform selling the world’s most popular sneakers of brands including Nike, adidas, YEEZY, Supreme, and Drewhouse has fostered a unique space to uphold and enhance sneaker culture in India. Vedant idea's to change the footwear market are amazing, Today we can see how the new generation is coming up with revolutionary ideas to make things more exciting and attractive. There is so much to learn from these young players. Follow Siddhant Garg for more such business and inspiring stories LinkedIn LinkedIn News India LinkedIn Guide to Creating #india #linkedln #business

Meet a man, a school dropout, who earns millions reselling sneakers at age 24, backed by Indian billionaires Vedant Lamba - Founder of Mainstreet The sneaker trend in India has been gaining momentum in recent years. Sneakers have become popular among youth due to their comfort and style. Even the resale market for sneakers has seen a significant rise in popularity in recent years. Sneaker enthusiasts and collectors are increasingly turning to resale platforms to buy and sell rare and limited-edition sneakers. Vedant Lamba, founder of one of India’s largest marketplaces for sneakers, Mainstreet Marketplace, is a great example who made sneaker resale a lucrative business. The idea originated after Lamba created a YouTube Channel named ‘Main Street’ in 2017. He developed the channel later into a full-fledged start-up called Mainstreet Marketplace. At the age of 24, Lamba already showcases remarkable business acumen, evident from the scope and success of his venture, Mainstreet Marketplace. The company parades an extensive lineup of more than 3,000 products, ranging from sneakers to various t-shirts and hoodies. According to ET, Lamba said that the startup closed FY22-23 with Rs 24 crore in revenues, and is expected to reach the Rs 100 crore revenue mark in FY23-24. Moreover, the rapid growth and potential of Mainstreet Marketplace even captured the attention of Indian billionaires, securing a significant investment of $2 million. This investment round included businessmen such as Deepinder Goyal, the CEO of Zomato, Nikhil Kamath, the co-founder of Zerodha, and even famous rapper Badshah. This influx of funds has proven key in speeding up the company's growth. The Mainstreet Marketplace platform also claims to have an exclusive clientele that includes Bollywood celebrities such as Ranbir Kapoor, Karan Johar, Ranveer Singh, etc. With a record of selling more than 50,000 sneakers, the brand has made a remarkable impact in major urban spheres of India, including Mumbai, Delhi, Bengaluru, and Hyderabad. Vedanta had no college education. He once tweeted that he dropped out of high school. He studied at Pune's St Mary's School between 2005 and 2010. Mainstreet Marketplace, a multi-brand resale platform selling the world’s most popular sneakers of brands including Nike, adidas, YEEZY, Supreme, and Drewhouse has fostered a unique space to uphold and enhance sneaker culture in India. Vedant idea's to change the footwear market are amazing, Today we can see how the new generation is coming up with revolutionary ideas to make things more exciting and attractive. There is so much to learn from these young players. Follow Siddhant Garg for more such business and inspiring stories #growth #busienss #markets #future LinkedIn Guide to Creating

Fashion recommerce platform Charan has successfully secured a substantial Series A investment of W10 billion ($7.4 million), as announced by its operator, 'Mine is', under the leadership of CEO Kim Hye-sung. This recent funding round has brought the total investment in the company to an impressive W15.4 billion ($11 million). The investment was spearheaded by Hashed, a venture capital firm, with notable participation from Altos Ventures, SBVA (formerly SoftBank Ventures), Delivery Hero Ventures, and Hana Ventures. Charan, a distinguished player in the secondhand clothing consignment market, streamlines the entire process from collection to delivery, offering discerning customers access to luxury and popular brand clothing at discounts of up to 90% off retail prices. Since its inception in August 2023, Charan has experienced rapid growth, surpassing the milestone of 200,000 users within a mere 8 months of operation. Notably, the platform achieved an outstanding 4.5x increase in monthly sales from December to March, marking a remarkable ninefold increase from its launch month. 'Mine is' attributes this remarkable success to the burgeoning focus on sustainable fashion practices and the evolving perception of secondhand goods within the market. The global secondhand market size, which reached $177 billion in 2022, is projected to ascend to an impressive $350 billion by 2027. Charan's strategic trajectory is well-aligned with this upward trend, positioning the platform to capitalize on the expanding market opportunities. The fashion recommerce sector is witnessing a surge in demand, fueled by an escalating awareness of sustainable practices and a cultural shift towards conscious consumption. Charan's remarkable ascent mirrors the industry's optimistic outlook, as consumers increasingly embrace secondhand clothing as an environmentally responsible choice. Bolstered by the support of distinguished investors and buoyed by a promising market forecast, Charan stands at the forefront of the recommerce landscape, poised to redefine the consumer fashion experience. Source: StartupN, Charan #FashionRecommerce #SustainableFashion #SecondhandMarket

As Indian kids who grew up in the 1990s, we wore black Bata leather shoes every day at school and white canvas Keds (sold at Bata stores) on sports days. A lucky few of us had generous parents who gave us stylish Action sports shoes. No one even aspired to own a pair of Nike, Adidas, Puma, etc., at least in the smaller towns. It wasn't due to brand loyalty that we bought these same shoes every year. We didn't feel cool wearing Bata. We simply didn't have a choice. Socialism kills options. It destroys #economy. It was a different country back then. While doing some research, I found out that the USA has 50-odd D2C shoe brands that have raised #venturecapital including public companies like Allbirds and On Holding. None of these D2C startups are in the top 10 shoe brands in the country. Conventional players like Nike, Adidas, New Balance, Puma, Reebok, Asics, Converse, etc. still dominate the American sneaker market. All these D2C shoe brands, despite raising billions of dollars in capital, remain niche. A tiny percentage of the population buys them. So, why do VCs continue to back new sneakers or shoe brands? The USA footwear market is $88B. That's big enough to build dozens of new #startups with $100M in revenue. Such a scale makes these companies an attractive target for behemoths like Nike. A big acquisition means a successful exit for both founders and investors. Back home, we have also moved away from the 1990s era. We can choose between international brands and scores of domestic D2C brands. The Indian footwear market is 30% ($25B) of the USA, but it's exploding. There's growth, and VCs love growth. Hence, you often read about a new sneaker or fashion brand raising capital. Do we need more shoe or fashion brands in #India? The answer is yes. We need more brands to capture different consumer niches. We need brands that speak to their users. Indian founders are building brands that resonate with skateboarders, rap enthusiasts, marathon runners, startup employees, restaurant chefs, etc. These brands will never rival Nike or Asics. However, some will find their niche and become big, successful companies. This thought keeps VCs and founders going.

WHAT'S DRIVING EASTRN EUROPE'S FASHION-TECH BOOM? Marc Bain for The Business of Fashion: From the Baltics to the Balkans, Eastern Europe has emerged as a hotbed for online resale players, virtual try-on start-ups and other fashion-tech firms with global ambitions. Key Takeaways: 👟 A technology boom across Central and Eastern Europe and a fashion-conscious populace are contributing to a rise in fashion-tech businesses. The region has benefited from accession to the EU, a strong macroeconomic environment and a deep pool of tech and design talent. Venture capital is flowing into the area as both local and overseas investors seek opportunities from Estonia and Bulgaria to Czechia and Poland. In 2008, the year Milda Mitkute co-founded fashion resale marketplace Vinted with Justas Janauskas in Vilnius, Lithuania, the country’s start-up scene was basically non-existent. “I call it the wild, wild West in Lithuania,” Mitkute said. “It was like zero start-ups at that time.” 🎒 Today the situation is different. Since becoming the first Lithuanian company to capture a $1-billion valuation in 2019, Vinted has embarked on an acquisition spree, opened operations in several countries including Italy and Canada, and swung into profit. Mitkute, who stepped back from the company after having her first child several years ago, is now an angel investor in Lithuania’s start-up ecosystem, which she said is bustling and attracting global venture-capital firms looking for exciting opportunities. The Central and Eastern European region has emerged as a hotbed for fashion-tech businesses in recent years, producing a number of start-ups serving both local and overseas markets. Vinted is an especially successful example, but also from Lithuania is Wanna, the augmented-reality and virtual try-on provider that has worked with brands like Gucci and was acquired by Farfetch in 2022. Estonia has produced businesses including Alpha AR, which uses 3D modelling to create content for AR and try-on experiences, and Fits.me, a virtual fitting company bought by Japan’s Rakuten in 2015. ⛑ Cause and Effect An education system that emphasised STEM (science, technology, engineering, and mathematics) topics — a holdover from the Soviet era when Moscow held sway over many countries in the region through the Eastern Bloc alignment — provided a talent pool with the right skillset. And the region built up a good digital infrastructure, offering widespread access to high-speed internet. This environment and low labour costs compared to Western Europe have attracted foreign businesses looking for IT services. Growth of the tech industry hasn’t been evenly distributed across the region. Some countries are racing ahead while others are taking longer to get up to speed. 👑 LEARN MORE: https://lnkd.in/gT2qBZkg #ai #ar #metaverse #fashion #crypto #investment

Bengaluru-based fashion brand The House of Rare, which operates popular apparel brand Rare Rabbit, has almost doubled its net profit in the financial year ending on March 31, 2023 👇 The bootstrapped startup has recorded a profit of INR 32.2 Cr FY23, a 84% YoY increase from INR 17.5 Cr, on the back of rise in sales. In FY23, the startup’s revenue from operations jumped by 77% YoY to INR 376 Cr, from INR 212.5 Cr. The apparel startup primarily earns revenue by selling clothes and footwear through its retail stores, a native ecommerce store and online channels such as marketplaces. Including other income, House of Rare’s total income stood at INR 381 Cr, a 74% higher than INR 219 Cr. 🔗 To read more in detail, click here: https://lnkd.in/gUwyGupc #fashion #startup #financials

GenZ-focused 60-minute clothes delivery app Slikk has raised $300K in its pre-seed round led by Better Capital, with participation from Untitledxyz Ventures. The proceeds will be used to scale to over 100 brands, set up a large-format dark store, and expand delivery coverage to 70% of Bangalore's pincodes, the company said in a press release. The startup also plans on expanding to other metropolitan cities in India, and broadening its offerings to include beauty, personal care, and home decor. Led by Akshay Gulati, Slikk delivers fresh styles daily, allowing users to explore the latest trends frequently. In order to stay up with the rapidly changing fashion industry, Slikk delivers the newest trends directly to its customers' doorsteps, with new styles arriving weekly. Initially launching in Bengaluru, the platform will soon extend to other cities. According to market research, the Indian apparel market is expected to reach $105. 50 billion by 2024, with the fast fashion segment growing from $9.90 billion in 2023 to $28. 84 billion by 2030.

India’s online handbag market is a goldmine, expected to hit a massive $512.7 million by year's end. But there is a glaring mismatch between the cost & quality of products being offered to end users. Enter eské – a young D2C brand giving tough competition to established brands like Aldo, Tommy Hilfiger, Da Milano Leathers, among others 👀👇 eské’s founder, Shivam Khanna, identified a gap while running SK Exports, a successful manufacturer for global brands like Tommy Hilfiger, Calvin Klein, Kenneth Cole, and Aldo.  He highlighted that several of these lavishly priced luxury brand products are manufactured at a fraction of their retail costs. Peeved by this gap in the Indian fashion and lifestyle space, he founded the D2C lifestyle brand in 2018. eske's secret weapon? Vertical integration. Unlike traditional brands, eské controls the entire production process, from manufacturing to sales. This allows them to optimize costs and offer premium quality at a fraction of the price you'd expect. Since its launch, eské has secured $1.5 million in funding and achieved impressive online sales, with 70% coming directly through their website. In FY23, their total revenue, including both manufactured and traded goods, reached INR 8.5 Cr. But eské’s vision goes beyond online. They plan to expand to 150-500 physical stores in Tier 2 and Tier 3 cities within the next 6 years – aiming to capture a significant portion of the offline market and achieve a revenue target of INR 100 Cr in the next 2 years. Dive deeper into their journey here: https://4-2.co/3QZyLpM #startups #growth #D2C

🧟♀️ It struck me that Modern Retail’s recent article on DTC Zombies references two brands (Feat and Outdoor Voices) situated within the athleisure apparel space. Just as retailers anticipated a permanent shift from in-store shopping to e-commerce after the pandemic it was expected everyone would continue wearing athleisure at the same frequency after lockdowns. 📈 Projecting market demand for athleisure is challenging because it sits in the in-between spaces. Athleisure blurs traditional clothing lines, raising questions: Are hoodies and sweatpants athleisure? What about t-shirts? Is loungewear indoor athleisure or a separate category? Is “Bad Sandy” wearing a leather jacket and leggings at the end of “Grease” athleisure? The definition is fluid, influenced more by styling and usage than by distinct categories. 👗 While many women still wear yoga pants beyond the mat, there’s also a resurgence in tailored bottoms, exemplified by Aritzia’s wide-leg trousers. Dresses and skirts have made a comeback with a return to more careerwear and occasion dressing. Women consumers are embracing a post-pandemic wardrobe era with more distinctive outfitting propositions than 4 years ago. 🧘🏻♀️Of the upstart DTC brands described as athleisure in recent years, only Alo Yoga is the major competitive threat to Lulu’s women’s business. Not even Nike or adidas have been able to pull that off with apparel, though they have tried. Alo is smaller in volume than Lulu, but growing 30% YoY with a higher proportion of women’s consumers. Gap Inc. has also successfully evolved Athleta from a catalog business (old-school DTC) into a growing omnichannel concept that exclusively serves women and girls. 🏃🏾♀️Lululemon may have popularized leggings as casual wear, but it remains rooted in its athletic heritage, evident in its partnerships with Team Canada at the Olympics. Alo Yoga and Athleta’s very names indicate that activewear is the core of their brand. The latter has even attracted high-profile former Nike athletes Allyson Felix and Simone Biles as brand partners. 🎽 While at first glance DTC athleisure may be seen as a fading opportunity, Lulu Lemon, Alo Yoga, and Athleta are all DTC brands leading in the space. This would suggest that winning in DTC athleisure is less about positioning a brand in the in-between spaces but rather winning with women’s performance apparel. #merchandising #sportswear #athleisure #trends #DTC #fashion

AIFs excited to Invest in Next Big Thing, The New-age Ethnic Wear Brands for GeNext. New-age ethnic garments brands are venture investors' latest pick spurred by an uptick in business as Gen Z employees work up a penchant for formal ethnic wear, be it sarees or kurtas. In May, Libas raised Rs 150 crore ($18 million) from ICICI Venture, while Beng- aluru-based Koskii secured Rs 61 crore ($7 million) from Baring Private Equity last year. Several other Indian clothing- focused new-age internet firms are also on the radar of venture funds, multiple industry executives told ET. Libas founder Sidhant Keshwani said the Noida-based company has repositio- ned itself from being an ethnic wear brand to an "Indian wear brand" to tar- get the Gen Z audience. Nearing market saturation in urban areas, it also expects to derive growth pri- marily from tier II and smaller towns. Launched in 2014, the company clocked *500 crore revenue last fiscal and aims to reach 1,000 crore by the end of FY26. "We never thought Gen Z consumers would be a market but so many wear a saree now," said Sujata Biswas, cofounder of Mumbai-based Suta. The bootstrapped fashion startup clocked 75 crore reve- nue in FY24 and is aiming to close FY25 with 100 crore. While those aged 25-35 years are the lar- gest cohort of customers for Suta, the 18- 25 years segment is also witnessing rapid growth, as Indian clothing styles are gai- ning traction among younger people, she said. Suta has 10 offline stores too. Another startup making waves is Gur- gaon-based urban ethnic lifestyle brand Truebrowns, which was founded by Udi- ta Bansal and acquired by ecommerce rollup company Goat Brand Labs. Chennai-based Fashor is also nearing the 100-crore revenue mark. The startup is part of the portfolio of Sprout, an ear- ly-stage venture capital fund. #AIFs #invest #newage #GeNext #ethnicwear #retail #brands #Suta #Libas #TrueBrowns #Fashor #fashion #startups #VCs #PEs #Sprout #iciciventures #giftcity #investment #opportunity #NRIs #Gandhinagar #ahmedabad #Gujarat #propertyadvisor #icanflip #consultant https://lnkd.in/dE558XbC