It’s a match made in luxury heaven.
The Edit LDN, a major luxury sneaker resale and consignment platform, has just opened up its first physical location as a shop-in-shop in Harrods, London’s iconic 172-year-old department store.
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The store within a store concept opened earlier this month and was brought to life via a partnership between The Edit and Kurt Geiger, which manages footwear for Harrods and Selfridges. This shop-in-shop marks the first-ever physical location for the consignment and resale platform since it began its life as a website in 2020.
“We saw a beautiful marriage of two brands because we purposefully pitch ourselves to a higher audience,” said Moses Rashid, the founder and CEO of The Edit.
The sneaker boutique lives in the men’s footwear section of Harrods and features some of the hardest to get sneakers from brands such as Yeezy, Jordan, Off-White and Supreme. Items are sold at secondhand market rates, as Rashid sources the merchandise from resellers or sells them on consignment.
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Since its birth in 2020, The Edit has raised £200,000 (or over $270,000) in early funding, with plans to raise another £3 million (or over $4 million) in another round by the end of 2021. The company lives in the highly lucrative and fast-growing sneaker resale market, which Rashid estimates to be worth $6 billion per year with the potential to reach $30 billion by 2030.
Given the growth of the luxury sneaker market, executives at Kurt Geiger were determined to find a way to bring high-end sneakers in-house to Harrods, a global destination for luxury goods.
“I think today in my mind to run a successful, very high end men’s shoe floor, if you don’t carry Nike and Yeezy and brands like that, you look like you don’t really know what you’re doing. Because that is now luxury,” said Helen David, the chief merchant at Kurt Geiger who initially approached Rashid about occupying the space.
The boutique currently lives in the men’s footwear section of Harrods. But since its opening, about half of the sales have been made by women. David and Rashid see this trend as representative of a larger shift within the footwear and sneaker space.
“The thought that men and women wear the same shoe, ten years ago would have been maybe odd,” David said. “And today, it’s totally normal that five people can walk in within an hour, all buy the same shoe and three are men and two are women, and they wouldn’t bat an eyelid that the shoe is a man’s size.”
Gender is not a differentiator when it comes to the people coming to buy from The Edit. Instead, these customers are defined by a willingness to buy shoes at much higher price point than at retail.
Ans as the line between luxury and street fashion continues to blur, Rashid sees Harrods as the perfect home for meeting his ideal consumer.
“The people that come to Harrods and will purchase a product are the same type of individuals that will come to us,” Rashid said.
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