Sneaker E-Commerce Platform Kicks Crew Raises $6M Series A
03/09/22, 11:30 AM
Money raised
$6 million
Industry
software
commerce and shopping
Round Type
series a
The global thirst for an up-charged pair of Yeezy’s or limited edition Jordan’s combined with a growth in a digital ecosystem is creating new opportunities, particularly in the sneaker resale market, for companies like Kicks Crew, a Los Angeles- and Hong Kong-based sneaker and apparel platform.
Company Info
Additional Info
The company just raised a $6 million Series A round, led by Gobi Partners, Pacific Century Group and Complex China, to strengthen its foothold in the U.S. The startup has the B2B2C sneaker marketplace model, which involves working directly with verified retailers of the brands they carry and guarantees product authenticity for consumers, chief operating officer at Kicks Crew Ross Adrian Yip, who previously worked for the U.S. sneaker platform GOAT, told TechCrunch. Yip also said that the firm plans to incorporate more transparency to the customer by implementing blockchain technology to access the product’s order and quality control information via a QR code. “Kicks Crew identified this massive market opportunity and built a trusted brand servicing these customers.”The startup has worked with large direct-to-consumer platforms like Amazon, eBay, Tmall.com and JD.com, Yip said, adding that it developed a reputation for its authentic, scalable and deep supply. The company says its platform enables creators, curators and consumers to come together in one inclusive community. Kicks Crew also sees potential to expand its business in Southeast Asian countries that have a wide potential audience with no dominant player, as of yet, making the region ripe for the startup to disrupt the athletic footwear buying experience, according to Yip. The startup is considering countries like the Philippines, a nation known for its love of basketball, as well as Thailand, Indonesia and Malaysia, all of which have a growing consumer base with brands, he added.