(Reuters) - Soletron, a start-up corroborated by former Adobe Systems Chief Executive Bruce Chizen, is building an online marketplace for streetwear and sneakers, a marketplace that is value roughly $60 billion by one estimate.
Soletron, run by Shane Robinson and Allen Steigman, lifted about $250,000 from angel investors including Chizen in early 2011 and launched a marketplace in November. The association is lifting some-more income in a array A turn of try collateral financing early subsequent year and Chizen skeleton to deposit in a business again then.
"Urban wear is a outrageous niche that no one unequivocally pays courtesy to," Chizen told Reuters. "To turn a Etsy of a streetwear marketplace -- that's a whole idea."
Etsy, an online marketplace for handmade and vintage products launched in 2005, now has over 12 million members and saw sales of roughly $500 million this year, by November.
Soletron has about 50 streetwear and sneaker designers offered some-more than 1,200 products so far. Brands embody Dunkelvolk, Nooka and Kanvas Kings.
The association collects transaction fees from joining designers and buyers and generates other income from promotion and member subscriptions.
Robinson and Steigman have large skeleton given their aim marketplace is potentially huge. There is small central information on this partial of a attire market, though accounting organisation Grant Thorton pegged civic attire sales during $58 billion in 2006.
U.S. teenagers aged 15 to 19 spend $22 billion a year on conform products, according to estimates by Piper Jaffray. Action sports brands, Wall Street's tenure for streetwear brands like Volcom, Quiksilver and Hurley, have been a many renouned among wealthier teenagers given late 2008, according surveys conducted by a investment bank.
Volcom was acquired by French oppulance hulk PPR this year, and Nike owns Hurley.
"This attention is a self-evident sleeping hulk of a sell and e-commerce worlds," Robinson said.
Soletron is competing opposite Karmaloop, an online streetwear tradesman that is on march to beget about $130 million in income this year. The company, run by Greg Selkoe, has an online marketplace called Kazba, that accounts for about 10 percent of sales.
"There's room for some-more people doing it," Selkoe said.
"18 to 24 year-olds have spending energy of $90 billion in a U.S. and a good 20 percent of that income goes into shopping into this form of wardrobe and sneakers," he added. "Extrapolate globally and that's a large market."
(Reporting by Alistair Barr in San Francisco; Editing by Steve Orlofsky)
News referensi http://news.yahoo.com/soletron-targets-60-billion-streetwear-market-221236415.html Also On shopping
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