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By Nishtha Pandey May 22, 2023 8:26:37 PM IST (Updated)
CNBC TV18 caught up with the 23-year-old, who has created a thriving business in India's sneaker reselling industry. Lamba launched Mainstreet TV, a YouTube channel, in 2017, which later evolved into the successful startup — The Mainstreet Marketplace. Read on to know more about GenZ's galloping craze for this footwear and some eye-watering numbers.
The last couple of years have been a strong indicator of the growth of the sneaker culture in India. “A lot of kids, aged 17-19 years are now making lakhs of rupees a month by reselling shoes — starting with Rs 20,000 they are now making Rs 3-10 lakh a month in profit from just selling sneakers,” said 23-year-old Vedant Lamba who is the founder of streetwear store Mainstreet Marketplace.
From street fashion to investment opportunities, the rise of sneaker culture in India has taken the nation by storm, captivating enthusiasts and entrepreneurs to build a business out of this piece of footwear.
The hype is so much so that by 2030, a global valuation of $30 billion is anticipated for the sneaker resale industry as per a report published in July 2021 by investment firm Cowen. The business involves buying limited edition shoes (called ‘copping’) at retail prices and reselling them for a higher price.