breaking news Meet Vedant Lamba, who is on his way to earning Rs 100 Crore just by reselling sneakers
CNBC TV18 caught up with the 23-year-old, who has built a thriving business in India’s sneaker resale industry. Lamba launched Mainstreet TV, a YouTube channel, in 2017, which later grew into the successful startup – The Mainstreet Marketplace. Read on to learn more about GenZ’s runaway craze for this shoe and some tantalizing numbers.
The past two years have been a strong indicator of the growth of sneaker culture in India. “Many children, aged between 17 and 19, are now earning hundreds of thousands of rupees per month reselling shoes – from Rs 20,000 they are now earning Rs 3-10 lakh per month just selling sneakers “said the 23-year-old. -former Vedant Lamba who is the founder of streetwear store Mainstreet Marketplace.
From street fashion to investment opportunities, the rise of sneaker culture in India has taken the country by storm, captivating enthusiasts and entrepreneurs alike to build a business out of this shoe.
Such is the hype that by 2030, a global valuation of $30 billion is predicted for the sneaker resale industry, according to a July 2021 report by investment firm Cowen. The business involves buying limited-edition shoes (called “copping”) at retail price and reselling them at a higher price.
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