SINGAPORE –\u00a0Media
What started as an underground
The partnership reflects Carousell’s
Leveraging Ox Street’s strong domain
The demand for sneakers on both
“We are excited to partner with Gijs
“We initially started a conversation
With Carousell’s reach and
1.\u00a0\u00a0\u00a0\u00a0
SINGAPORE –\u00a0Media
OutReach\u00a0–\u00a015 November 2021 – Carousell
Group, the leading classifieds group in the Greater Southeast Asian
region, has announced that it has acquired\u00a0Ox Street,
one of the fastest growing end-to-end marketplaces for authenticated sneakers
and streetwear in Southeast Asia, as it sets sights on the US$10 billion
sneaker resale market in Greater Southeast Asia. …<\/p>\n","protected":false},"author":1,"featured_media":18804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18803"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18803"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/18804"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nOutReach<\/a>\u00a0–\u00a015 November 2021 – <\/a>Carousell
\nGroup<\/a>, the leading classifieds group in the Greater Southeast Asian
\nregion, has announced that it has acquired\u00a0Ox Street<\/a>,
\none of the fastest growing end-to-end marketplaces for authenticated sneakers
\nand streetwear in Southeast Asia, as it sets sights on the US$10 billion
\nsneaker resale market in Greater Southeast Asia.<\/p>\n![](\"https:\/\/images.media-outreach.com\/Thumb\/500x0\/196484\/oxstreet.jpg#image-196484\")
<\/p>\n
\nmovement has quickly become mainstream with sneakers emerging as one of the
\nmust-haves in men’s accessories. In fact, in 2020, the total global sneaker
\nmarket revenue was valued at approximately US$70 billion and was forecasted to
\nreach a value of US$102 billion by 20251<\/sup>. Within Southeast Asia, the
\nforecasted yearly growth is over 20%, double the global average.<\/p>\n
\ndeep commitment to reimagining the classifieds experience, with a focus on
\ntrust and convenience, to make secondhand the first choice. The Ox Street team
\ninspects and authenticates every pair of sneakers before it reaches its buyers.
\nCarousell’s advanced and intuitive technology, extensive reach, and marketplace
\nliquidity across a wide range of categories, combined with Ox Street’s
\nauthentication capabilities will further propel the mutual goal of creating an
\nexperience where transacting secondhand is as convenient and trusted as buying
\nfirst hand.<\/p>\n
\nexpertise in the streetwear industry, Carousell intends to deepen its reach and
\nscale to become a market leader for fashion and luxury goods. It will also
\nallow both marketplaces to capture the growth of the Greater Southeast Asian
\nmarket across sneakers and more emerging categories driven by Gen Z trends.<\/p>\n
\nplatforms are growing, especially among male users. 70% of Ox Street users are
\nmale who spend on average $400 per pair. While on Carousell, 28% of\u00a0 men’s footwear is sold for US$100 to $250,
\ndouble that of women’s footwear. <\/p>\n
\nand team in our mission to inspire the world to start selling. We share common
\nvalues in being user-first and in building communities, as evidenced by the
\nbrand love they have created amongst their dedicated community of sneakerheads
\nand fashion enthusiasts, especially amongst the Gen Z. They have also built
\ntrust by authenticating every pair of sneakers that gets transacted on the Ox
\nStreet marketplace. We see immense opportunity in bringing that capability and
\ntheir learnings to double down on our recommerce efforts. Most of all, we see
\nthis acquisition as joining forces to accelerate our shared vision of making
\nsecondhand the first choice.” said Quek Siu Rui, Co-founder and CEO of
\nCarousell. <\/p>\n
\nwith Carousell on partnering up to provide authentication as a service for
\nsneakers, but as discussions progressed we found so much common ground in how
\nwe see the future, that we decided it would be much more powerful for Ox Street
\nto fully join the Carousell group. Our focus markets align nearly 1 to 1, and
\nin these markets Carousell was actually the first, and remains the largest
\nmarketplace for sneakers and streetwear. We started Ox Street to bring a more
\nseamless experience to buying and selling in these categories, and it’s very
\nexciting that we can now continue building our vision for this space on a much
\nlarger scale. <\/p>\n
\ntechnological capabilities, we can supercharge Ox Street’s ability to innovate
\nand reach more buyers and sellers. Last but not least, we have a lot of shared
\nvalues and found a very strong cultural fit, and I cannot be more excited to
\npartner with Siu Rui, Marcus, Lucas and the entire Carousell team.” said Gijs
\nVerheijke, the Founder and CEO of Ox Street.<\/p>\n
\nhttps:\/\/www.statista.com\/statistics\/1017918\/sneakers-market-value-forecast-worldwide\/<\/a><\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"