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Laced, a UK-based resale marketplace for authenticated premium sneakers, raises $12M

Variety

24-05-2023 | 08:57

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Laced, a UK-based resale marketplace for authenticated premium sneakers, raises $12M

The $79 billion sneakers (or “trainers,” for our UK readers) industry has spawned a lucrative resale market, expected to hit $30 billion by the end of the decade — up from $5 billion in 2020. Some have even called sneakers an alternative asset class, an investable product that can be bought and sold on for an inflated price — particularly for limited edition or otherwise hard-to-get sneakers.

Throw into the mix the prevalence of counterfeit sneakers, with some reports indicating that the fake footwear industry out-values the legitimate market five-fold at a staggering $450 billion, and it’s easy to see why there might be value in technology platforms designed to give sneakerheads peace-of-mind when parting with their hard-earned cash.

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