London Based Start-Up Laced Raises $1m in Funding to Build EU Based Sneaker Resale Marketplace.
In the presently exciting trainer resale space, there is ample opportunity for UK and EU-facing businesses to grow. With much of the concentration in this industry built around the American market so far, there is a noticeable gap for European and British companies to succeed. One company making waves in the UK market at present is that of Laced. Laced is one of the only UK and EU-facing companies in the trainer resale market.
Having grown quickly, the London-based start-up has already managed to grab some important investment. They have partnered up with venture capitalists Talis Capital and have gained around $1m in funding. This funding will ensure that the company has the opportunity to keep pushing on with their stated intention of helping emerging companies ‘unlock their potential for future growth’.
The company has grown at a relatively steady pace, but the latest injection from Talis Capital should really help. With the UK and EU trainer resale markets comparatively weak for an industry expected to be worth as much as $6bn come 2025, it’s vital that companies make changes. The market seems rather empty of competition, with many North American competitors making up the corporate shortfall across the region.
Laced has begun to grow in size and in opportunity and have begun to work towards reshaping the local marketplace. Competition, though, is quite vast. For example, companies like North American-based StockX have a valuation of around $1bn. The company, founded in 2015, also has competition from the likes of GOAT (2015), who recently formed a merger with Flight Club (2006). With a valuation of around $550m, too, these companies are some of the most well-recognised within the entire industry.
Laced, then, has spotted a marketplace gap and decided to step in to try and build up their own valuation in time. Laced is one of the only companies, as of 2020, that offers these services in the UK and the EU. For that reason, they’ve managed to quickly start competing with industry bigwigs and making a relatively large impact.
Offering greater speed of service to UK and EU-facing clients, they can deliver quickly and offer a more localised service. It’s become a service with a relatively large user base already, with a range of users already impressed by their competitive pricing and their quality of product selection. For that reason, expect to see more investment coming into the company in the near future.
For many people, the trainer resale industry could be about to explode into something larger than ever before. Interested parties can find out more about Laced through their official platform, Stocking everything from the latest Yeezy trainers to Air Jodan 1’s from the early 2000s Laced really is every sneakerhead’s dream.
The post London Based Start-Up Laced Raises $1m in Funding to Build EU Based Sneaker Resale Marketplace. appeared first on Popdiaries.
