Limited Edition footwear and streetwear business The Edit LDN to raise £3m funding round
Limited edition footwear and streetwear business The Edit LDN is set to raise £3m in 2021, as it targets expansion into the US and South East Asia markets.
Popular with royalty, celebrities and footballers, The Edit LDN is an online consignment store that sells new and pre-loved goods from a variety of brands including Yeezy, Jordan, Louis Vuitton, Dior, Off-White, Supreme, Fear of God among others to a wide community of fashionistas, collectors and investors.
Through partnerships with styling services such as Thread.com and various concierge companies, The Edit LDN has expanded its community of buyers from TV and film celebrities to professional footballers and royal families around the world.
The business has already raised £300,000 in less than a week and expects to hit its £3m before the end of the summer.
Moses Rashid, founder and CEO of The Edit LDN commented: “We’re already in hyper growth mode and just 18 months old as a company. We’re delivering on our brand experience and our customers around the world are enjoying the journey. We’re keen to build on this and get to places where demand is greatest and showcase the awesome experience the team have built from London. I am amazed how quickly we hit £300,000 and I am sure we will get to the £3m target very quickly”.
“This is a marketplace worth $6b a year globally and will grow 5x by 2030. By the end of this year, The Edit LDN will be worth £10m 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 are doing this fundraise now to set us up for success over the next 24 months”.