Grailed, founded in 2013 by CEO Arun Gupta, is a New York-based online marketplace where ‘Sneakerheads’ go to buy and sell items of clothing, footwear and even art. Adopting a similar fee-system to the online giants eBay, Grailed offers anyone who signs up to the app the chance to buy rare pieces of streetwear brand new or second hand, with protection provided to buyers in the case of illegitimate knock-offs being sold as authentic.
“Grailed is a community driven marketplace for men’s fashion and streetwear, making great clothing affordable and available to everyone.”
In an age where streetwear is said to be making up over 10% of clothing and footwear sales in high-street retailers, Grailed provides a very useful platform for people to buy and sell their new and used streetwear in a protected “community” environment.
The demand for sneakers such as Kanye West’s Adidas ‘Yeezy’ and for clothing from brands such as Supreme and Palace has created a resale market that could be even bigger than the market offered by high-street retailers, creating a gap in the market which Grailed have arguably filled for an online marketplace to buy, sell and trade in such brands.
Grailed isn’t however exclusive to streetwear brands sold in stores such as Supreme and Adidas; the market for high fashion brands such as Balenciaga, Off White and Gucci has also been a contributing factor to the growing success of the online marketplace.
Whilst eBay has had great success since its foundation in 1995, Grailed arguably offers a product that appeals more to the younger generation of streetwear and fashion enthusiasts.