A 22-year-old entrepreneur has opened what is possibly India's largest sneaker resale store in Delhi.
The practice of buying limited edition "hyped" sneakers at retail prices and reselling them for a profit is big business. Some estimates peg the global resale market to grow to $30 billion by 2030. With some of the most exclusive sneakers now landing in India, the world of reselling is getting bigger with school-going teenagers deftly flipping their prized pairs for lakhs. But while the subculture is largely confined to the online marketplace and the world of Instagram, the last two years have seen a few brick-and-mortar stores meant exclusively for reselling sneakers.
The Mainstreet Marketplace, helmed by entrepreneur Vedant Lamba, is one such sneaker resale company which transitioned to a retail store by launching their first outlet in Mumbai in August 2020. They have now opened their flagship store at Dhanmill Compound in New Delhi in a 1600 sqft space, the largest space dedicated to a sneaker resale outlet so far in India.
Featuring a futuristic design inspiration, an industrial mood, and the aesthetic of an art gallery exhibit, the store stocks some of the most exclusive kicks and apparel from Yeezys, Jordans, Anti Social Social Club, Adidas, Nike, and the like. A leading player in sneaker reselling in India, The Mainstreet Marketplace has several Bollywood patrons, including Arjun Kapoor and Ranveer Singh.
"There are barely any stores in India that physically resell pairs. I can only think of Mainstreet and Copunderdog (in Bengaluru). Most reselling happens over online websites like CrepDogCrew or independent Instagram pages," says Satjit Singh, a lawyer and a bona fide sneakerhead from Delhi. With stores, there is no hassle of ordering from abroad, navigating customs etc. No shipping. Just walk in, and buy. As simple as that. This could not be done before."
Making a distinction between a resale sneaker store and a retail one like VegNonVeg, Singh expounds on the niche business. "Retail works like any other store. They receive products from the manufacturer/company direct and sell at MRP. Whereas resale stores buy at resale values and add their margins on top depending on how hyped or popular the shoe is."
The Mainstreet Marketplace plans to open more sneaker resale outlets in Indian metros.
