The Edit Man London, the UK’s largest online store for limited edition sneakers and streetwear, has rebranded to The Edit LDN to reflect the rapidly growing female market for new and pre-loved sneakers and streetwear. As for the first time, more women than men are making premium purchases.
In the last 12 months, The Edit LDN has reported that sales have grown 60 percent month-on-month, and its new name addresses the broadening of its community which now has a 50/50 male/female buyer split.
Moses Rashid, founder and chief executive of The Edit LDN, said in a statement: “As a brand, we want to remain current and relevant to our community, our new name now fairly represents and embraces our diverse community but is true to its origins.
“We dropped the ‘Man’ from the name simply because the number of women buying had been steadily increasing since launch in January 2020 and passed 50 percent in March this year. It was the right thing to do.”
The online consignment store sells new and pre-loved goods from brands including Yeezy, Jordan, Louis Vuitton, Dior, Off-White, Supreme, and Fear of God and has established itself as a trusted source of authenticated and high quality new and pre-loved streetwear and sneakers.
Rashid, added: “We set out to create a destination that opens up and levels up the opportunity for anyone wishing to own extremely limited edition goods. Essentially we make Inaccessible, accessible.
“Previous means to buy these goods have been riddled with issues such as sending payments to random resellers found on social media, authenticity issues when buying online and long delivery times on purchases from global marketplaces. The Edit LDN addresses all these concerns and is transforming the customer experience and industry simultaneously.”
The Edit LDN targets the US and Asia as sales soar
The online retailer is also looking to the future, with big ambitions to raise funding that will scale the business into the US and South East Asia markets, as it targets a 60 million pound valuation by 2025.
In 2021 to April, The Edit LDN reports that it has attracted more traffic, transactions and revenue than in their first year of trading in 2020, and states that the company will be worth 10 million pounds by the end of the year, and 30 million pounds by 2022.
Rashid, added: “This is a marketplace worth 6 billion US dollars a year globally and will grow 5x by 2030. By the end of this year, The Edit LDN will be worth 10 million pounds and given the hyper growth rate of our sales and revenues, we will 3x our valuation by the end of 2022 for sure. In meeting the needs of this rapid scaling, we will seek to raise funds this year to propel us as we launch in new markets.”