The global sneaker reseller market has grown into a $30 billion industry and is steadily growing 5 per cent year on year. Serving this demand, rapidly growing sneaker marketplace The Edit LDN has announced a $4.8M seed funding as it scales into the US and MENA region following a successful two years since launch. The seed round was led by Regah Ventures (early investors to Uber, Coinbase and Instacart) with participation from sports celebrities including New York Giants Captain Xavier McKinney, NBA superstar PJ Tucker and Premier League soccer player Jesse Lingard.
The Edit LDN was founded in January 2020 by Moses Rashid in his spare bedroom and it has quickly become a multi-million dollar business within just two years. Seeing a gap in the market for luxury in the sneaker space, The Edit LDN built its proprietary technology facilitating a global marketplace with a focus on speed, efficiency and experience. They offer the ability for a Same Day Service, through to storage facilities for Resellers, as well as a proactive seller service through their Personal Shopping team.
Moses Rashid, CEO at The Edit LDN commented: “We have been laser focused on providing a premium service and doing this super fast to anyone buying limited edition sneakers globally. This was an unmet need in the sneaker community and our growth success is testament to how we are conquering this. Having built relationships with brands, celebrities and consigners, we can secure the most sought after products by clients. Our robust authentication process and detailed supply chains has helped to grow trust and love for the brand – we will double down on our tech stack to ensure we are ahead of the curve to source, offer and send the latest sneakers to anyone, anywhere in the world quickly.”
On leading the seed funding round, Mark Hager, CEO at Regah Ventures commented: “We are backing The Edit LDN to be the most disruptive and innovative global marketplace for limited sneakers, streetwear and collectibles. With unique market positioning, celebrity endorsements, and the powerful brand they have built in a short space of time, it is a really exciting business. We have every confidence in Moses and the wider management team to turn this into a $1billion+ business quickly, and we at Regah Ventures are delighted to be a part of the journey”.