London-based Laced, an online marketplace for authentic sneakers, announced that it is now available to buyers and sellers in Europe. The company will offer industry-leading authentication of items, same-day order processing, and same-day-as-sale payouts as standard.
The company has introduced various currencies and dedicated language websites for countries like Germany and France, with plans to add Italian and Dutch sites later. This expansion aims to cater to the growing demand for authentic sneakers in the European market.
The development comes after Laced raised $12M in a Series A round of funding in May 2023.
Buying and selling authentic luxury goods
Founded in 2018 by Chris Gibbons, Laced claims to offer access to the latest sneakers as easily as possible. The platform enables the buying and selling of the “most exclusive and desirable” sneakers via its marketplace by bringing together buyers and sellers of authentic goods.
The company’s marketplace is completely anonymous with buyer and vendor names never revealed. Laced says it distinguishes itself from other sneaker, high fashion and luxury items retail and resale sites by handling each transaction safely and securely.
The company’s European customers can access the same wide selection of authentic products, including rare sneakers and popular brands like Air Jordans and Nike Dunks, all available in euros. This expansion enables buyers to access the company’s offerings across Europe and the UK.
Tech-enabled access to authentic luxury goods
Luxury goods and sportswear are key sectors in the fashion industry, and the European sneaker market, worth around $16.4B annually, highlights this trend. Demand is high due to the exclusivity and limited accessibility of these products.
Laced offers a transparent and efficient means for people to access the sneaker resale market without relying on raffles. The platform ensures anonymity for buyers and sellers, guaranteeing secure transactions and distinguishing itself from other luxury goods resale sites.
The counterfeit sneaker market’s value exceeded the legitimate market by more than five times in 2021, posing a significant issue for resale platforms. To combat this, Laced has an in-house team of authenticators who inspect every pair of sneakers before they’re sent to buyers.
This authentication process, designed by industry expert Matt Miller, guarantees the authenticity of each sneaker sold on Laced.
Gibbons says, “Half a decade after launching in the UK, and having become the most trusted resale site in the country, it’s with immense pride that we are now expanding into Europe, offering our same great authentication processes, product library and customer service to European buyers and sellers.”
“At the heart of the Laced platform and mission lies our belief that everyone, wherever they are, should be able to go online, purchase luxury goods and have them delivered to their door in the easiest way possible.”
“Expansion into Europe means we will be putting more genuine items in the hands of more customers, which has been our goal from the very start,” adds Gibbons.
Laced is expanding into Europe, which will lead to a 25 per cent growth in staff. The expansion will create jobs in content marketing, operations, and logistics. The company recently underwent a rebranding in partnership with the creative agency SomeOne to prepare for its European expansion.