The rise of the sneaker culture in India over the past several years has been clearly visible. According to Vedant Lamba, 23, the owner of streetwear retailer Mainstreet Marketplace, "A lot of kids, aged 17 to 19, are now making lakhs of rupees a month by reselling shoes. Starting with Rs 20,000, they are now making Rs 3 to 10 lakh a month in profit from just selling sneakers.
" The emergence of trainer culture in India has swept the country, enticing fans and businesspeople to create a company out of this item of footwear through street fashion and investment potential.
According to a forecast released in July 2021 by financial firm Cowen, the excitement is so intense that by 2030, a global valuation of $30 billion is expected for the sneaker resale market.
The company is purchasing limited edition shoes at retail costs and then reselling them for a profit. One such businessperson, Vedant Lamba, has established a successful enterprise in India's trainer resale market. Lamba's adventure began at the age of 16 when he found the alluring world of trainers after growing up with no exposure to luxury products.
The now 23-year-old immediately became aware of a gaping need in the Indian market for trainer resale. Then, in 2017, Lamba launched Mainstreet TV, a YouTube channel that later grew into the prosperous business known as The Mainstreet Marketplace. In 2023, the business has grown to have two locations in India. In fact, according to Lamba, Mainstreet Marketplace is on pace to generate sales of Rs 100 crore this fiscal year.
"In our first fiscal year, we made roughly Rs 7 crore in sales. We'll accomplish more than that next month. We expect to generate sales of more than Rs 100 crore this fiscal year, according to Lamba. The business had previously revealed that it had raised an undisclosed sum of seed money. Lamba also disclosed to CNBC-TV18 that Mainstreet Marketplace had concluded a new round of funding with a few venture capitalists.
