India’s Sneakerhead Entrepreneurs Cash In on Rare Footwear Market
- Thousands of resellers are chasing returns of 1,000% or more
- Wealthy Indians are adding sneakers to investment portfolios
A few blocks away from a Mumbai neighborhood that’s home to several celebrities, Anchit Kapil frequently hosts movie stars, cricketers and influencers to browse his collection of vintage and limited-edition sneakers. Some 600 pairs of vibrantly colored Air Jordans, Dunks and Louis Vuittons, some priced as much as $11,000, line the walls of his store, meticulously displayed as works of art.
India’s growing affluent class is creating opportunities for resellers like Kapil. More than 10 such stores have opened across Mumbai and New Delhi in the past three years, while thousands more Gen Z entrepreneurs sell footwear through their Instagram feeds or digital marketplaces. Private equity firms and venture capitalists are getting in on the action, investing millions of dollars in startups.