Laced

The company's business model is centered on providing a secure and anonymous consignment-based marketplace that connects buyers and sellers. Sellers send their items to Laced, and upon a successful purchase, Laced handles the transaction, ensuring neither the buyer's nor the seller's identity is revealed. Revenue is generated by taking a commission from the sale price before paying the seller. The business targets both casual consumers and serious collectors within the expansive sneaker and luxury goods resale market. A key challenge Laced addresses is the rampant issue of counterfeit goods in the resale market; the counterfeit sneaker market was reportedly worth more than five times the legitimate market in 2021.

Laced's core service is its rigorous, in-house authentication process. Once a sale is made, the seller ships the item to Laced's authentication center, where a team of experts verifies that the product is genuine, unused, and in its original packaging before it is sent to the buyer. If an item fails this inspection, the transaction is canceled, the buyer is refunded, and the item is returned to the seller, who may incur a fee. This process is a key differentiator, building trust and ensuring product legitimacy. The platform also offers features designed for speed and convenience, such as same-day order processing, seven-day-a-week deliveries, and prompt payouts to sellers.

Since its inception, Laced has achieved significant milestones, including surpassing $100 million in Gross Merchandise Value (GMV). The company has successfully raised a total of $17 million over two funding rounds. Its most recent funding was a Series A round on May 24, 2023, which raised $12.1 million, led by Talis Capital with participation from H&M Group Ventures, among others. This capital is being used to enhance its technology and expand its product offerings. Keywords: sneaker marketplace, luxury resale, authentication service, online consignment, e-commerce platform, limited edition sneakers, streetwear, collectible goods, direct-to-consumer, circular fashion