Vedanta Lamba mentioned that in the secondary market, a sneaker valued at Rs 20,000 can fetch as much as Rs 2 lakhs.
Vedant Lamba has an intriguing journey. After completing school, he embarked on a venture by launching a YouTube channel called Mainstreet TV. As time went on, he transformed the channel into a fully-fledged startup called Mainstreet Marketplace. Over the years, his company has achieved remarkable success, particularly in the domain of sneaker resale.
During his interview with CNBC, Vedant Lamba revealed that he is not alone in this business. He mentioned that numerous teenagers, aged 17 to 19, are making substantial amounts of money by selling used shoes. These young entrepreneurs typically begin with an initial investment of Rs 20,000 and are able to generate monthly profits ranging from Rs 3 lakhs to Rs 10 lakhs.
During his school days, Lamba had limited knowledge about sneakers. However, at the age of 16, he stumbled upon this fascinating realm when he started his YouTube channel. Through his channel, he delved into the world of sneakers and began to explore its intricacies.
In its inaugural year of operation, Mainstreet Marketplace achieved a remarkable sales figure of Rs 7 crore. Looking ahead, they have even greater aspirations for the coming month, aiming to surpass that impressive number in a single month. Their target is to achieve sales exceeding Rs 100 crore.
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During its first year of operation, Mainstreet Marketplace accomplished an impressive sales milestone of Rs 7 crore. Looking towards the future, the company has set ambitious goals for the upcoming month, aiming to exceed this impressive figure within a single month. Their target is to achieve sales surpassing Rs 100 crore.
The younger generation shows a strong preference for Air Jordan 1 sneakers, while the older demographic tends to favor Nike and Louis Vuitton Air Force 1 sneakers.
According to his statement, in the resale market, a sneaker valued at Rs 20,000 can potentially yield as much as Rs 2 lakhs.
He mentioned that his company once successfully sold a pair of Jordans for Rs 13 lakhs, earning a commission of Rs 2 lakhs. Surprisingly, the market price for the shoes was only Rs 1.5 lakhs. It turns out that someone initially purchased the pair for Rs 7-8 lakhs and then sold it to his company for Rs 10-11 lakhs.
His company has recently opened a brick-and-mortar store in New Delhi, spanning an impressive area of 1600 square feet. This offline store holds the distinction of being Asia’s largest sneaker resale store.
Vedanta did not pursue a college education and openly shared on Twitter that he was a high school dropout. He attended St Mary’s School in Pune from 2005 to 2010.